Credit growth in 2025 is about 16%

The State Bank of Vietnam expects system-wide credit growth in 2025 to be about 16%.

Closely follow the Resolution of the National Assembly, the direction of the Government and the Prime Minister, State Bank said, continue to implement credit management solutions in accordance with macroeconomic developments to contribute to promoting economic growth and controlling inflation.

Accordingly, in order to facilitate credit institutions to provide credit capital to meet economic growth needs, on December 30, 2024, the State Bank sent a document to credit institutions to publicly and transparently announce the principles for assigning credit growth in 2025 so that credit institutions can proactively implement it.

The operator said, the target delivery level credit growth of credit institutions based on the results of the 2023 rating as prescribed in Circular 52/2018/TT-NHNN (amended and supplemented) multiplied by the coefficient applied to banks. Accordingly, the State Bank expects the credit growth of the entire system in 2025 to be about 16%. At the same time, the State Bank 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/QH15 dated June 16, 2022 of the National Assembly.

The State Bank expects system-wide credit growth to be around 16% in 2025. Photo: Duy Minh

The State Bank requires credit institutions to conduct safe and effective credit growth in accordance with the law on the basis of risk management capacity, liquidity and capital mobilization capacity, ensuring credit quality, using capital for the right purposes, limiting the increase and occurrence of bad debts, and ensuring operational safety.

"Increase credit growth correctly and on target, credit goes into production and business sectors, priority sectors and growth drivers according to the Government's policy; strictly control credit for sectors with potential risks; improve credit assessment and appraisal capacity; promptly detect and strictly handle violations of the law in credit granting activities; continue to reduce costs, increase the application of information technology, digital transformation... to have room to continue striving to reduce the lending interest rate level" - State Bank required.

The operator also affirmed that in 2025, it will closely monitor developments and actual situations to proactively, flexibly, promptly, effectively, scientifically manage credit growth of the banking system, closely following the situation so that the credit institution system can provide enough credit capital to serve the economy and ensure system safety, in conjunction with prioritizing promoting economic growth, stabilizing the macro economy, and controlling inflation.

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