Credit growth has been strong since the beginning of the year.

Conference "Promoting bank credit to contribute to economic growth in Region 8" - Photo: VGP/HT

On the afternoon of April 3, in Ha Tinh, the State Bank of Vietnam (SBV) held a conference on "Promoting bank credit to contribute to economic growth in Region 8" (including the three provinces of Ha Tinh, Nghe An, and Quang Binh).

Nearly 3 months, credit increased 10 times by 2024

According to SBV Deputy Governor Pham Quang Dung, system-wide credit as of March 25, 2025 increased by 2.5% compared to the end of 2024, while it only increased by 0.26% in the same period in 2024. This is a positive signal, reflecting the effectiveness of SBV's management solutions. In particular, the capital utilization ratio of banks reached 103%, showing that capital sources have been optimized to support the economy.

Deputy Governor of the State Bank of Vietnam Pham Quang Dung speaks at the Conference - Photo: VGP/HT

In Region 8 (including Nghe An, Ha Tinh, Quang Binh), outstanding credit balance by the end of February 2025 reached VND 535,700 billion, an increase of 1.5% compared to the end of 2024, accounting for 33% of the total outstanding balance of the North Central and Central Coast regions. The construction industry recorded a high growth rate, contributing significantly to local economic development.

To achieve the credit growth target of 16% in 2025, the State Bank has proposed key solutions such as: Commercial banks are required to continue reducing interest rates, supporting businesses and people to access capital more easily; prioritizing credit for production and business: Focusing on priority areas such as industry, high-tech agriculture, while strictly controlling risks in sensitive industries; promoting technology application, digital transformation, simplifying administrative procedures to shorten loan processing time.

In addition, banks are also encouraged to expand their connection programs with businesses, especially small and medium enterprises (SMEs), to remove difficulties in mortgage assets and bad debts.

Urgently remove obstacles for businesses

At the conference, representatives of the local business association made a number of recommendations such as: Some small and medium enterprises reported that they still face difficulties in accessing capital due to strict requirements on collateral and credit history. They suggested that banks be more flexible in appraisal, and at the same time have policies to support interest rates or extend debt for overdue loans.

Banking industry representatives actively answer questions from businesses - Photo: VGP/HT

Under the direction of Deputy Governor Pham Quang Dung, representatives of banks have raised a number of opinions to answer questions of businesses.

Representatives of banks pledged to accompany businesses. In return, banks also emphasized the need to improve governance capacity and financial transparency from businesses. In addition, they called on local authorities to support infrastructure improvement and disaster risk reduction to create a favorable business environment.

According to the Deputy Governor, in 2025, the Government sets an economic growth target of at least 8% and strives to achieve a higher level under favorable conditions. At the same time, the Government has assigned economic growth targets to each locality.

Among them, Ha Tinh, Nghe An, Quang Binh provinces in region 8 are assigned a growth target of 8-10.5%. These are high growth rates in the current challenging economic context.

Regarding Region 8, the Governor also noted the following issues: locally mobilized capital can only meet about 85% of capital demand in the area; the average credit growth of the region in 2024 will reach nearly 11%, although higher than the average growth rate of the North Central region, it is still lower than the national average growth rate; the bad debt ratio is higher than the average of the North Central region and the Central Coast; fourthly, the characteristics of localities in the region are often affected by natural disasters, storms and floods, affecting the operations of enterprises and the efficiency of business investment.

In the context of many challenges, the Deputy Governor said that the banking industry will resolutely implement many solutions, continue to promote the connection between supply and demand through connecting corporate customers to promptly grasp difficulties and have appropriate solutions.

"To make a breakthrough in 2025, creating conditions for growth in accordance with the set targets, especially for the coming years, the State Bank has set a credit growth target of 16% for 2025 and will flexibly adjust it depending on the situation, higher than in previous years. The banking industry will continue to closely coordinate with the government and businesses to effectively implement credit policies, contributing to promoting sustainable economic growth for Region 8 and the whole country," said the leader of the State Bank.

On the same day, the representative of the State Bank announced the Decision and launched the State Bank of Vietnam Region 8. The State Bank of Vietnam Region 8 includes 3 provinces: Nghe An, Ha Tinh, Quang Binh; the headquarters of the State Bank of Vietnam Region is located in Ha Tinh.

Deputy Governor of the State Bank of Vietnam Pham Quang Dung presented the decision to the Board of Directors of the State Bank of Vietnam Region 8 and the Heads and Deputy Heads of Departments - Photo: VGP/HT

Deputy Governor of the State Bank of Vietnam Pham Quang Dung presented the decision to the Board of Directors of the State Bank of Vietnam Region 8 and the Heads and Deputy Heads of Departments.

Previously, on March 1, 2025, the Governor of the State Bank issued Decisions on personnel transfer and appointment in Region 8, specifically: Ms. Nguyen Thi Thu Thu, Director of the State Bank of Vietnam, Nghe An province branch, held the position of Deputy Director of the State Bank of Vietnam, Region 8 branch and assigned the position of Acting Director of the State Bank of Vietnam, Region 8 branch.

Deputy Directors of State Bank of Vietnam Region 8 include: Mr. Luong Hai Luu, Mr. Nguyen Van Trung, Ms. Hoang Thi Minh Thu.

In just a short period of time, less than 3 months, the State Bank has basically completed the organization and apparatus arrangement, ensuring the correct progress and roadmap.

The restructuring of the SBV's apparatus, including 15 regional SBVs, is the result of serious and drastic efforts by the SBV's Board of Directors and Steering Committee, implementing the consistent directions of the Central Committee, the Politburo, and the Secretariat on implementing the "revolution" of streamlining the apparatus, which is a key and urgent task, of special significance to the development of the country in the new era. In the coming time, the SBV will continue to carry out related tasks to ensure progress, quality and improve the effectiveness and efficiency of state management, meeting the requirements of the Central Steering Committee and the Steering Committee of the Government to implement Resolution No. 18-NQ/TW dated October 25, 2017 of the 6th Central Conference, Session XII, on a number of issues on continuing to innovate and reorganize the apparatus of the political system to be streamlined and operate effectively and efficiently.

Mr. Minh

Source: https://baochinhphu.vn/tin-dung-tang-truong-manh-ngay-tu-dau-nam-102250403222417914.htm