Credit increases, businesses hope interest rates will continue to decrease

These are the highlights of the Conference "Promoting bank credit to contribute to economic growth in Region 6", organized by the State Bank of Vietnam on March 21, in Hai Phong City.

Conference on Promoting bank credit to contribute to economic growth in region 6. Photo: Duy Minh

Regions with higher growth than the whole country

State Bank Region 6 includes the following provinces and cities: Hai Phong, Hai Duong, Hung Yen, Quang Ninh, Thai Binh, with headquarters located in Hai Phong City and 4 satellite locations operating in the following provinces: Hai Duong, Hung Yen, Quang Ninh, Thai Binh.

Speaking at the conference, Deputy Governor of the State Bank Pham Thanh Ha said that in Resolution 25/NQ-CP dated February 5, 2025, the Government assigned the GRDP growth target for 5 provinces of Region 6 from 8 - 12.5%, higher than the national average. This is a challenge that requires the efforts of all sectors, all levels of the People's Committees of provinces and cities in the region and the participation of the entire banking sector in the area.

According to Mr. Pham Thanh Ha, for the banking sector, the State Bank's management must achieve multiple objectives, contributing to stabilizing the macro economy, controlling inflation, ensuring the safety of the banking system, and supporting economic growth. Closely following the solutions and tasks in Resolution 158/2024/QH15 of the National Assembly, the State Bank has specified the goals and solutions for the entire system on currency, credit, restructuring, bad debt handling, inspection, supervision, administrative procedure reform; promoting non-cash payments, digital transformation of banking activities and ensuring security and safety of payment activities....

“The above solutions and management have initially achieved positive results. Although according to the seasonal laws of each year and the Lunar New Year, credit often decreases at the beginning of the year, credit growth in early 2025 showed signs of improvement compared to the same period in 2024. Specifically, by March 12, 2025, credit increased by 1.24% compared to the end of 2024 (the same period in February 2024 decreased by 0.74%" - Deputy Governor Pham Thanh Ha informed.

Deputy Governor of the State Bank Pham Thanh Ha speaks at the conference. Photo: Duy Minh

Regarding the credit situation in the region, Ms. Nguyen Thi Dung - Acting Director of the State Bank of Region 6 - said that the credit of the provinces in Region 6 in 2024 is higher than the national average. In particular, some provinces have the highest credit growth rate in the country such as: Hai Phong 24.67%, Hung Yen 18.24%. In early 2025, credit continued to show signs of improvement compared to the same period in 2024, specifically credit by the end of February is estimated to increase by 1.02% (higher than the national average credit increase of 0.8%); capital mobilization reached over 1 million billion VND, ensuring sufficient credit supply for the region, in addition, system liquidity is guaranteed, interest rates tend to decrease.

Up to now, the business activities of the State Bank of Vietnam, Region 6 branch have been deployed smoothly, the connection between the branch's headquarters in Hai Phong city and the "satellites" in the remaining 4 provinces has been smooth and continuous without interruption; cash supply activities, processing of business transactions on digital platforms and management, inspection and supervision of credit institutions in the area have all been smooth, without any problems compared to the time before the State Bank of Vietnam, Region 6 branch was established.

Right credit, on target right from the beginning of the year

At the conference, the opinions of representatives of State management agencies, associations, enterprises, and credit institutions showed a comprehensive picture of the local socio-economic situation, especially the situation of production and business activities, and banking credit work in the past time. From there, proposals, recommendations and solutions were made to jointly build the most optimal scenario to promote economic growth of the provinces in the Region in particular and the whole country in general.

Mr. Le Quang Thang - Chairman of the Board of Directors, Viet Long Investment and Construction Joint Stock Company - proposed that banks consider the valuation of mortgaged assets such as waste treatment plants, and consider the credit factor for leased land and assets attached to leased land so that businesses can receive sufficient capital disbursement according to production and business needs.

Meanwhile, Mr. Nguyen Van Tien - General Director of Hateco Hai Phong International Container Port Company Limited requested to continue to receive support to reduce loan interest rates.

The State Bank of Vietnam announced the decision and launched the State Bank Region 6. Photo: Duy Minh

In response to the recommendations of enterprises and credit institutions, Deputy Governor Pham Thanh Ha suggested that the regional State Bank perform well its state management function on currency, credit and banking activities in the area; in which, it continues to direct local credit institution branches to provide credit to production and business sectors, priority sectors and economic growth drivers according to the direction of the Government and the Prime Minister; strictly control credit for sectors with potential risks; continue to actively implement solutions to remove difficulties for people and enterprises; promptly meet the capital needs of people and enterprises.

At the same time, the Deputy Governor requested credit institutions' Headquarters and branches in the area to continue to reduce operating costs, increase the application of information technology, simplify procedures to reduce lending interest rates, and be willing to share part of the profits to support people and businesses in accessing bank credit capital, promoting production and business development.

In particular, implementing credit growth solutions correctly and on target right from the beginning of the year, promptly meeting the economy's credit capital needs, directing credit to production and business sectors, priority sectors and economic growth drivers. Strictly controlling credit for sectors with potential risks; focusing on credit investment in feasible key projects and works serving socio-economic development; local strengths and sectors according to the orientation in Resolution 30-NQ/TW of the Politburo such as tourism, industry, modern services, etc.

In addition, promote the implementation of credit programs and policies under the direction of the Government and the Prime Minister. Effectively implement the program connecting banks and enterprises, proactively coordinate with local Party committees, authorities, and socio-political organizations to organize exchanges and dialogues with loan customers to grasp and promptly handle and resolve difficulties and problems of customers. Thereby, expanding the ability to access credit capital for businesses and people; developing modern payment services; promoting digital transformation in banking activities; ensuring security and safety of information technology and payment systems...

Also on this occasion, the State Bank of Vietnam announced its decision and launched the State Bank Region 6. The leaders of the State Bank Region 6 include: Ms. Nguyen Thi Dung, Acting Director of the State Bank Region 6. The Deputy Directors include: Mr. Nguyen Duc Hien, Ms. Nguyen Thi Thanh Binh, Mr. Nguyen Duc Thiep, Mr. Nguyen Minh Chien, Mr. Mai Viet Trung.

Thuy Linh