Outstanding credit balance in 5 months in Ho Chi Minh City reached nearly 4.1 million billion VND

This is one of the most positive increases in recent years on a year-on-year basis, reflecting the effectiveness of flexible credit policies, reasonable interest rates and a stable financial and monetary environment.

Transaction at a bank

On May 29, Mr. Nguyen Duc Lenh, Deputy Director of the State Bank of Vietnam (SBV) Region 2 branch, said that by the end of May 2025, outstanding credit in Ho Chi Minh City is estimated to reach about VND 4,085 trillion, an increase of 3.6% compared to the end of 2024 and an increase of 13.2% compared to the same period last year.

Credit capital in Ho Chi Minh City continues to focus on groups and sectors that are growth drivers. In particular, commercial banks closely coordinate with the Ho Chi Minh City Investment and Trade Promotion Center (ITPC) and business associations to promptly support the export sector - one of the three pillars of economic growth in the context of the global economy with many fluctuations due to US tariff policies. At the same time, activities connecting banks and businesses, policy dialogue and problem solving continue to be maintained effectively, creating conditions for businesses to access preferential capital to develop production and business.

According to Mr. Lenh, low interest rates are the driving force for banks' credit growth, low interest rates create incentives for businesses to invest in new projects, creating a spillover effect to the economy. In the first 5 months of the year, the interest rate level continued to be maintained at a low level, which is a key factor supporting businesses, business households and cooperatives in the area to reduce borrowing costs, thereby expanding production and business.

Specifically, short-term credit programs in VND for 5 priority sectors with lending interest rates of no more than 4%/year have helped a series of small and medium enterprises, export enterprises, high-tech enterprises, etc. access preferential capital sources. In addition, policy credit programs, social housing loans, disbursement of forestry and aquatic product credit packages, housing credit packages for people under 35 years old, etc. have also created conditions for production and business development.

"In the coming time, the city's banking sector will continue to implement and promote solutions on implementing monetary and credit policy mechanisms, capital solutions and banking services... to contribute to promoting Ho Chi Minh City's economic growth to achieve the double-digit target in 2025," said Mr. Lenh.

Source: https://ttbc-hcm.gov.vn/du-no-tin-dung-5-thang-tai-tphcm-dat-gan-4-1-trieu-ty-dong-1018801.html