Expanding credit scale to support the economy

In 2025, the Government aims to achieve economic growth of 8% or more while continuing to stabilize the macro economy, control inflation, and ensure major balances of the economy. To successfully achieve these goals, the banking sector - including commercial banks - is expected to play a pioneering role, becoming a lever to promote and exploit potentials and opportunities, creating new momentum in national development.

Credit growth in the first phase of 2025 has shown signs of improvement compared to the same period.

According to data from State Bank of Vietnam (SBV), in 2024, the credit scale of the economy will reach more than 15.6 million billion VND, an increase of more than 15% compared to the end of 2023. Commercial banks play a huge role in providing credit to the economy, accounting for about 92.6% of the total outstanding credit balance of the whole system.

Actively "pump" capital

“In 2025, on the basis of continuing to improve the efficiency of governance and management in all aspects of operations, VietinBank will promote sustainable expansion of its operations, focusing on customer groups in potential areas. It is expected that credit growth will be maintained at 15-16% compared to 2024, along with debt quality control and ensuring operational efficiency,” affirmed a representative of VietinBank.

As for Agribank, General Director Pham Toan Vuong said that Agribank continues to provide full credit products to customers with the target of increasing outstanding debt in 2025 by about VND 200,000 billion (equivalent to a growth rate of 13%).

Credit growth in the first phase of 2025 has shown signs of improvement compared to the same period.

Similarly, in 2025, MB aims to increase credit balance by 26%, expected to reach more than 1 million billion VND. According to MB General Director Pham Nhu Anh, the bank will allocate at least 50% of the credit growth limit to the retail segment and small and medium enterprises, while the rest will focus on large enterprises. MB will also increase market share, shift retail; enhance book conversion, enhance risk management, measure and quantify risks and comprehensively implement ESG...

Credit growth in the first phase of 2025 has shown signs of improvement compared to the same period last year. According to the latest report of the State Bank of Vietnam, as of February 3, 2025, the total outstanding credit balance of the entire system reached VND 15.65 million billion, up 0.19% compared to 2024, higher than the same period in 2024 (down 0.6%).

Need more separate mechanism

2025 is the second year that the State Bank has assigned credit targets to banks at the beginning of the year. Deputy Governor of the State Bank of Vietnam Dao Minh Tu said that on average, more than 2% credit growth will help increase GDP by 1%. In 2025, the State Bank of Vietnam set a credit growth target of about 16% for the economic growth target of 8%. However, if GDP growth reaches 10%, credit growth must be at 18-20%, equivalent to the banking sector having to "pump" an additional VND2.8 to 3.1 million billion into the economy.

According to the affirmation of the Governor of the State Bank of Vietnam Nguyen Thi Hong, the entire banking industry thoroughly understands and is aware that 2025 is the year of acceleration and breakthrough, how to promote economic growth of 8% or more, control inflation, and also demonstrate the highest responsibility and determination to have appropriate management solutions. According to the Governor, if we want the economy to accelerate and make a breakthrough, credit growth plays an extremely important role.

In 2025, the State Bank has targeted credit growth at about 16% and will make appropriate adjustments to the actual situation. “The State Bank will closely monitor developments. If inflation is controlled at a low level, it will adjust this target up and vice versa. Credit policy will also focus on economic growth drivers, exploiting drivers such as consumer credit, credit for small and medium enterprises...”, said Governor Nguyen Thi Hong.

To promote credit, in addition to the efforts of the entire banking sector, there is also a need for sharing and coordination from many ministries and sectors. For example, with social housing credit, according to Governor Nguyen Thi Hong, many resources are needed, especially from the state budget.

However, to promote credit, in addition to the efforts of the entire banking sector, more sharing and coordination from many ministries and sectors are needed. For example, with social housing credit, according to Governor Nguyen Thi Hong, many resources are needed, especially from the state budget. “In fact, in recent times, the banking system has been very responsible with a humanitarian spirit, supporting and voluntarily reducing lending rates, but in the implementation process, it is facing many difficulties. To remove obstacles and promote social housing credit, the State Bank hopes that the Ministry of Construction will coordinate with localities to assess the overall demand for housing, including the demand for ownership and renting and buying, so that bank credit can focus on the core,” the Governor of the State Bank added.

In addition, according to Agribank General Director Pham Toan Vuong, with the banking industry's credit growth target of about 16% in 2025, the State Bank has assigned Agribank a credit growth target of nearly 13%, equivalent to an increase of more than VND 200,000 billion. If the annual outstanding debt increases by VND 200,000 billion, Agribank needs to add VND 15,000-17,000 billion in equity capital. Therefore, Agribank General Director proposed that the National Assembly and the Government consider and have a separate mechanism for state-owned commercial banks, including considering providing additional charter capital from Agribank's annual actual profits, at least VND 10,000 billion/year, starting from 2025 so that Agribank can fulfill its assigned political tasks, aiming for the expected double-digit GDP growth target for the 2026-2030 period.

Meanwhile, Ms. Nguyen Thi Phuong Thao, founder and Permanent Vice Chairwoman of HDBank, proposed that the Government promote the capital market, reduce pressure on bank credit, and support long-term growth. At the same time, Ms. Nguyen Thi Phuong Thao also proposed quick and timely support from the Government and the State Bank in the process of restructuring DongA Bank according to the compulsory transfer plan, in order to soon restore operations, increase credit and banking services for businesses and people.

Chairman of the Board of Directors of TP Bank Do Minh Phu proposed that it is necessary to gradually reduce and eventually eliminate the management of credit growth targets for each credit institution; at the same time, he expressed his belief that the credit growth rate of 16% in 2025 as set by the State Bank is completely feasible.

Source: https://baolangson.vn/mo-rong-quy-mo-tin-dung-ho-tro-nen-kinh-te-5039456.html