State Bank: 145,000 billion VND in social housing loans not included in credit room

(Dan Tri) - 9 banks were directed to implement a social housing lending program with a limit of 145,000 billion VND and not be counted in the annual credit growth target, applicable until 2030.

The State Bank of Vietnam (SBV) recently issued an official dispatch to 9 banks including Agribank, BIDV, Vietcombank, VietinBank, TPBank, Techcombank, VPBank, MB and HDBank to request the implementation of a loan program for social housing, worker housing, renovation and reconstruction of old apartments according to Resolution 33 of the Government.

The credit limit is VND145,000 billion and will not be counted towards the annual credit growth target. The policy will apply until 2030, provided that the loan turnover does not exceed the initial commitment amount of the banks.

According to the requirements of the regulatory agency, banks need to seriously implement their commitments to participate in the program regarding preferential interest rates and loan terms appropriate to the borrower and purpose.

Banks should pay attention and coordinate with construction projects that meet loan conditions to promptly disburse when investors need to borrow capital; creating favorable conditions for social housing buyers to access loans.

Any unit that refuses to participate in this policy must respond in writing to the State Bank, before January 15.

145,000 billion VND in social housing loans are not included in the credit room (Photo: Tien Tuan).

Previously, four state-owned banks, including Agribank, BIDV, Vietcombank, and VietinBank, committed to each participating in a credit package for social housing loans worth VND30,000 billion. The remaining five commercial banks each committed to participating in VND5,000 billion.

The State Bank has also completed the draft documents and resolutions to adjust the content of the VND 120,000 billion Program in Resolution No. 33 in the direction of reducing lending interest rates for customers buying by 3-5%; for customers who are investors, the support level remains at 1.5-2%). On August 2, 2024, the Ministry of Construction issued a document agreeing with the above proposal.

Source: https://dantri.com.vn/bat-dong-san/nhnn-145000-ty-dong-cho-vay-nha-o-xa-hoi-khong-tinh-vao-room-tin-dung-20250104211410169.htm