NBC: Total Credit Reaches US$44.9 billion by Q3 2021; Construction Contributes 25.6%

• Kongleaphy Keam
• 21 December 2021
• Uncategorized
• 2201 Views

By the end of the third quarter of 2021, total domestic credit provided by banking and financial institutions reached US$44.9 billion, an increase of 23% compared to the same period last year, according to a National Bank (NBC) report on 20 December.

Among all, credit given to the construction sector was at US$11.5 billion, or 25.6% of the total credit. This number has increased by 31.2% compared to the same period last year.

In addition to the construction sector, credit was also given to other important sectors such as US$4.2 billion for agriculture, US$4.7 billion for services, US$11.1 billion for wholesale and retail trade, US$1.5 billion for manufacturing, US$2.7 billion for household, and US$9.2 billion for others.

Regarding the growth of domestic credit, the World Bank recently warned that excessive credit growth and concentration of domestic credit in the construction and real estate sector remains a key risk to Cambodia’s financial stability despite the GDP growth rate projection of 4.5% in 2022.(Read more)

 

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