HCMC – Loans in Vietnam’s banking system expanded by 9.9% in the first half of this year against the end of last year to over VND17.2 quadrillion, showed data from the State Bank of Vietnam (SBV).
Credit picked up by 19.3% year-on-year, reflecting a robust recovery in lending, particularly in key production and business sectors, said Pham Thanh Ha, deputy governor of the SBV, at a press briefing on July 8.
Most credit went to priority sectors. As of May-end, loans to agriculture and rural development accounted for 23.16% of the total while small and medium-sized enterprises (SMEs) made up 19%. Notably, growth of credit for supporting industries and high-tech firms was nearly double the national average, at 15.7% and 17.6% respectively.
The SBV had proactively assigned annual credit growth quotas to commercial banks at the start of the year. For 2025, the credit growth target is set at around 16%, subject to adjustment based on macroeconomic conditions.
The central bank has directed lenders to prioritize credit to productive sectors such as agriculture, supporting industries, and SMEs, while tightening controls on lending to high-risk areas like real estate and corporate bonds.
Several large-scale lending programs are also being deployed. These include a VND145 trillion package for social and worker housing, a VND500 trillion program for digital infrastructure and national key projects, and a VND100 trillion initiative for agriculture, forestry, and fisheries.
