Total loans of Vietnam's banking system expanded 0.77 percent in the first two months of this year, the lowest growth over the past few years, according to the country's Ministry of Planning and Investment on Tuesday.

The credit growth was much lower than the nearly 2 percent posted in the same period in 2018 and 2017.

In recent months, the credit structure has shifted its focus towards manufacturing, especially to such prioritized sectors as agriculture and small and medium-sized enterprises, while loans were tightened to sectors with high potential risks including property and securities, according to the State Bank of Vietnam.

Total loans of Vietnam's banking system grew 14 percent in 2018, falling short of the target 17 percent. The central bank has set the 2019 credit growth target at about 14 percent.