Hanoi (VNA) - Vietnam’s credit growth is on track to meet the Government’s targets for 2025, with loans channeled toward production and priority sectors, Deputy Governor of the State Bank of Vietnam (SBV) Doan Thai Son told the Government's regular press briefing on October 5.
The SBV pegged 2025 credit expansion at 16%, matching the economy’s growth goal, and will make adjustments if needed, Son said.
Since the start of 2025, the central bank has rolled out several credit-policy directives and convened sessions to bolster bank-business ties. It is accelerating digital transformation and easing administrative and lending processes to let individuals and businesses access loans quicker, all to fuel production and trade.
As of September 29, outstanding loans across the banking system totaled 17.71 quadrillion VND (681 billion USD), a 13.4% spike from late 2024. The breakdown mirrors the economy’s makeup: agriculture-forestry-fisheries took 6.23%, industry and construction 23.97%, and trade and services 69.8%, versus 6.84%, 25.65% and 67.51% a year prior.
About 78% of overall credit still pours into production and priority sectors. By late August, farm loans reached 3.9 quadrillion VND, or 22.76% of the total, while small-and medium-sized enterprise borrowing hit 3.3 quadrillion VND, or 19.04%. Certain priority areas logged double-digit gains: supporting industries rose about 23.14%, and high-tech firms climbed some 25.74% from the end of 2024.
Government-backed lending schemes are also delivering gains. A programme aiding agro-forestry-fisheries exporters has pumped out 106 trillion VND to date. A social housing and young-buyer loan programme disbursed almost 4.7 trillion VND, up 66.2% from last year.
Going forward, the SBV will steer credit expansion, attuned to macroeconomic shifts and the economy’s capital absorption capacity. It also aims to propose a decree granting 2% interest-rate subsidies from the state budget to private companies, business households and solo operators funding green and circular economy ventures while embracing environmental, social and governance standards, Son added./.
