Growth was high this period due to credit expansion in prioritized sectors such as processing, manufacturing and export industries, Le Minh Hung, Governor of the State Bank of Vietnam (SBV) said.

Loans outstanding in the pork industry stood at about VND51 trillion ($2.19 billion), of which VND1.2 trillion ($51.6 million) was restructured for borrowers affected by the ongoing swine flu epidemic.

"We have directed banks to restructure debt, reduce interest rates and offer new loans to serve production for these areas," Hung said.

The SBV has set a 14 percent credit growth target for this year. The focus of new loans would be priority sectors such as manufacturing, agriculture and small and medium enterprises, according to the central bank. 

Last year, Vietnam recorded credit growth of 14 percent, the lowest rate since 2014.