Bắc Ninh
Credit growth projected at 16% for 2025
Credit growth across Vietnam's banking system is projected to reach about 16% in 2025, according to the State Bank of Vietnam (SBV). In a document sent to financial institutions, said the central bank.
It reaffirmed its commitment to managing credit policies that foster economic growth while controlling inflation and taking into account macroeconomic conditions.
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An employee counts Vietnamese banknotes at a bank in Ho Chi Minh City. |
The allocation of credit quotas will be based on a scoring and ranking system derived from 2023 performance, as outlined in Circular No. 52 (2018) (amended).
The SBV required financial institutions to ensure safe and efficient credit growth in compliance with regulations.
Credit should go into production, business, and prioritised sectors while avoiding high-risk areas. Institutions are also required to enhance their credit assessment and appraisal capabilities, swiftly address any violations, and maintain flexibility to further reduce lending rates.
The central bank emphasized the need for a flexible, timely, and data-driven approach to credit management in 2025, aiming to ensure an adequate credit supply while safeguarding the stability of the system.
Prime Minister Pham Minh Chinh on September 21 chaired a meeting between Cabinet members and leaders of 13 joint stock commercial banks to seek measures to promote national socio-economic development.
More than 10 banks have increased their deposit interest rates by 0.1-0.9 percentage points in the last month, with the highest now for a 12-month period being 6.2%.
Banks’ average lending interest rate was 8.3% as of the end of June, down 0.96 percentage points for the year, according to the State Bank of Vietnam.
Some 20 banks have hiked their deposit interest rates by 0.1-0.9 percentage points in the last month, with the highest for 12-month deposits now being 5.9%.
The State Bank of Vietnam (SBV) will research and amend regulations on safety and security in online banking service provision to better protect customers, an SBV official said on July 4.
Despite low interest rates, bank deposits have reached a new historic peak of 16 quadrillion VND (628.5 billion USD) as of the end of March, according to the latest data from the central bank.
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