HANOI, April 15 (Xinhua) -- Vietnam's credit expanded by 3.18 percent in the first quarter compared to the end of last year, reaching 19.18 quadrillion Vietnamese dong (about 764.05 billion U.S. dollars), the Vietnam News Agency reported on Wednesday, citing the State Bank of Vietnam (SBV).

Pham Thanh Ha, deputy governor of the SBV, said the credit growth contributed to the country's gross domestic product growth of 7.83 percent in the first quarter.

During the period, bank lending was primarily directed toward business and production activities, key drivers of economic growth, as well as priority sectors such as industry, agriculture and rural development, small and medium-sized enterprises, trade and services, he said.

The central bank has set a credit growth target of 15 percent for the year, according to the report. ■