Vietnam Raises Banks' Credit Targets

The Central Bank of Vietnam has announced that certain banks will be permitted to exceed their established lending targets for the current year in order to stimulate credit growth. Annually, Vietnam establishes credit growth objectives for individual financial institutions and the overall banking sector. However, as of 26 August, the level of credit in the system has only increased by 6.63%, which is below the set target of around 15% above the 2023 level. To accelerate credit growth, banks that have already disbursed 80% of their individual targets will be permitted to exceed their targets for the remainder of the year. This decision was made despite a recent increase in bad loans and warnings from the World Bank regarding asset quality and rising levels of non-performing loans (NPLs). The central bank has not yet announced the extent to which banks will be permitted to increase their lending, as this will depend on their credit scores.

https://internasional.kontan.co.id/news/vietnam-mengerek-target-kredit-sejumlah-bank
 

BYD is targeting 50% of its sales to come from the global market.

BYD Co., China's leading electric car manufacturer, has announced plans to generate half of its future sales from overseas markets. This strategy is designed to address the tariff challenges faced by the State Panda company. In a recent statement, BYD Executive Vice President Stella Li indicated that the company anticipates that nearly half of its future sales will originate from international markets. While no specific timeframe was mentioned for achieving this target, a significant increase in production and delivery is likely to be required. BYD is currently targeting global sales of 500,000 units for this year, and it seems likely that they will achieve this target, given that their overseas sales have already reached 270,000 units in the first seven months. In total, BYD is aiming to sell approximately 3.6 million electric and plug-in hybrid cars globally this year. To achieve this ambitious goal, BYD has invested billions of dollars in production facilities across Europe, Asia, and South America. This allows the company to cater to local markets and bypass trade barriers on Chinese electric vehicles imposed by regions such as the European Union, Canada, and the US.

https://internasional.kontan.co.id/news/byd-targetkan-separuh-penjualannya-berasal-dari-pasar-global