Boosting bank credit, contributing to economic growth

On the morning of March 18, in Nha Trang City, the State Bank of Vietnam (SBV) held a conference on “Promoting bank credit, contributing to economic growth” in Region 10. Mr. Dao Minh Tu - Permanent Deputy Governor of SBV; Mr. Nguyen Tan Tuan - Deputy Secretary of the Provincial Party Committee, Chairman of the Provincial People's Committee, Secretary of the Party Committee of Khanh Hoa Provincial People's Committee; Ms. Ha Thu Giang - Director of the Department of Credit for Economic Sectors; Mr. Bui Huy Tho - Director of SBV Branch Region 10 chaired the conference.

The conference was held in person in Khanh Hoa and online in the provinces of Binh Dinh, Phu Yen, Ninh Thuan, and Binh Thuan. This is the 5th conference in a series of conferences organized by the State Bank of Vietnam at its regional branches to exchange and discuss solutions to achieve the credit growth target, contributing to promoting economic growth.

Conference chair

Timely supply of capital for production and business

Speaking at the conference, Mr. Bui Huy Tho - Director of the State Bank of Vietnam, Region 10 Branch, said that the credit institution system in the region covers all provinces and districts with 134 credit institutions (including 126 commercial bank branches, 1 Development Bank branch, 5 Social Policy Bank branches, 2 Cooperative Bank branches) and 63 people's credit funds. As of the end of February, capital mobilization of the entire Region 10 reached more than 385,000 billion VND, an increase of 1.5% compared to the end of 2024, accounting for about 2.52% of total capital mobilization nationwide; Total outstanding credit balance reached more than 446,000 billion VND (down 0.49% compared to the end of 2024, accounting for 2.83% of total outstanding debt nationwide), of which Khanh Hoa province had the largest outstanding debt, reaching about 137,000 billion VND, accounting for 30.7% of total outstanding debt in the whole region.

Credit institutions in the area always ensure adequate and timely supply of capital for production and business, in line with the regional economic structure, focusing on priority areas and local growth drivers. Banks also actively and effectively implement solutions to remove difficulties and increase access to capital for people and businesses. In 2024, 164 meetings and dialogues were organized between banks and businesses in the provinces in the region. Thereby, credit institutions lent more than VND 59.23 trillion to 3,292 businesses and 1,686 other subjects. In the first 2 months of 2025 alone, commercial bank branches in the area signed contracts for 21 businesses and 1 business household to borrow VND 1,893.9 billion. In addition, banks have reduced lending interest rates by 0.2% - 4%/year for 3,052 enterprises, reducing interest by more than VND 74.52 billion; outstanding loans with reduced interest rates are VND 70,599 billion.

According to Mr. Pham Minh Nhut - Permanent Vice Chairman of Nha Trang - Khanh Hoa Tourism Association, in recent times, credit institutions in the province have closely coordinated with all levels and sectors to focus on drastically implementing many credit solutions, promptly meeting the credit capital needs of businesses, especially tourism businesses, small and medium enterprises to quickly recover from difficulties. In 2025, Khanh Hoa tourism industry strives to welcome 11.8 million tourists, including 5.2 million international visitors. Therefore, businesses hope that the State Bank will continue to maintain low operating interest rates to guide the market to reduce lending interest rates to support businesses and people; implement many solutions to increase access to credit for people and businesses; strongly implement credit policy programs for priority areas to create growth momentum, remove difficulties, ensure livelihoods, create jobs for people, etc.

Strive for 16% credit growth

On the basis of closely following the Party's guidelines and orientations, the resolutions of the National Assembly and the Government on the socio-economic development plan for 2025, the SBV has concretized the directives into targets and solutions for the entire system. Regarding credit work in particular, the entire banking sector has set a credit growth target of 16%, contributing to achieving the economic growth targets of the whole country (at least 8%) and 5 provinces in the region (from 8% to 13%). To achieve that goal, the entire banking sector in general and in Region 10 in particular need to resolutely implement many solutions right from the beginning of the year. In particular, in addition to balancing and ensuring credit "supply", banks also closely coordinate with businesses and people to contribute to promoting the "demand" factor; promptly grasp the difficulties and problems of people and businesses and have appropriate solutions.

On the local side, Mr. Nguyen Tan Tuan said that the province is always ready to support local banks in terms of facilities and other conditions; regularly organize meetings, exchanges and dialogues between provincial leaders, credit institutions and enterprises in the area to promptly grasp and resolve difficulties in credit activities; publicize and make transparent investment projects in the area for credit institutions to access, contributing to boosting credit growth. He requested the State Bank of Vietnam, Region 10 Branch, to pay attention to directing commercial banks to continue to support businesses to stabilize production and business activities, develop sustainably and promote economic growth; expand the network of bank branches; reduce lending interest rates to support businesses and people; increase the application of information technology, digital transformation, simplify lending processes and procedures, and create favorable conditions for customers to access loans.

Concluding the conference, Permanent Deputy Governor Dao Minh Tu emphasized that in order to promote credit growth in the region, in the coming time, the SBV will focus on directing the SBV Branch in Region 10 to synchronously implement solutions on flexible monetary policy management, closely following the socio-economic programs of localities in the region; directing credit to areas with growth drivers such as import and export, seafood processing, tourism; maintaining conferences connecting banks and enterprises according to each specific economic sector of the locality; promoting policy communication; proactively connecting with relevant departments, branches, and associations in the region to deploy synchronous and effective solutions and policies. The Permanent Deputy Governor of the SBV also directed banks in the area to resolutely support businesses, consider businesses and people as the "ecosystem of the bank", and share benefits with customers; save operating costs to lower lending interest rates; continue digital transformation and cut administrative procedures; promptly summarize difficulties and obstacles, propose or recommend to local authorities and leaders at all levels to have solutions... For businesses, the Standing Deputy Governor of the State Bank of Vietnam hopes that units will proactively grasp the economic and political situation, improve management and financial transparency to have more effective access to credit sources.

MAI HOANG

Source: https://baokhanhhoa.vn/kinh-te/202503/day-manh-tin-dung-ngan-hang-gop-phan-thuc-day-tang-truong-kinh-te-faf0984/