The State Bank of Vietnam (SBV) has just sent a document to credit institutions to publicly and transparently announce the principles for assigning credit growth in 2025.

The document clearly states that, closely following the National Assembly's resolution and the direction of the Government and the Prime Minister, the State Bank of Vietnam continues to implement credit management solutions in accordance with macroeconomic developments, contributing to promoting economic growth and controlling inflation.

To facilitate credit institutions to provide credit capital to meet economic growth needs, on December 30, the State Bank of Vietnam publicly and transparently announced the principles for assigning credit growth in 2025 for credit institutions to proactively implement.

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Credit growth is expected to be around 16% in 2025. Photo: Nam Khanh

The credit growth target assigned to a credit institution is based on the 2023 rating results as prescribed in Circular 52 of 2018 (amended and supplemented) multiplied by the coefficient commonly applied to banks.

Accordingly, the SBV expects the credit growth of the entire system in 2025 to be about 16%. At the same time, the SBV continues to implement a roadmap to limit and eventually eliminate the management of credit growth targets for each credit institution according to Resolution No. 62/2022 of the National Assembly.

The State Bank also requires credit institutions to carry out safe, effective and regulated credit growth; increase credit growth correctly and on target; credit goes to production and business sectors, priority sectors and growth drivers; strictly control credit for potentially risky sectors; improve credit assessment and appraisal capacity; promptly detect and strictly handle violations... to have room to continue striving to reduce lending interest rates.

Providing more information about the credit management orientation in 2025, the State Bank said that next year, this agency will closely monitor developments and actual situations to proactively, flexibly, promptly, effectively and scientifically manage credit growth of the banking system.

At the same time, closely follow the situation so that the credit institution system can provide enough credit capital to serve the economy and ensure system safety, while prioritizing promoting economic growth, stabilizing the macro economy, and controlling inflation.

This agency will proactively adjust credit growth targets to facilitate the timely and adequate supply of credit capital for the economy; credit institutions do not need to submit written requests.

Second increase in credit growth target for banks The State Bank of Vietnam (SBV) on November 28 announced an adjustment to increase the credit growth target for 2024 for credit institutions.