Credit in Ho Chi Minh City exceeds 4 million billion VND for the first time

Mr. Nguyen Duc Lenh, Deputy Director of the State Bank of Vietnam, Region 2 Branch, said that the total outstanding credit balance in Ho Chi Minh City as of the end of April reached 4.04 million billion VND.

This growth rate is equivalent to 12.78% over the same period last year, many times higher than the modest growth in the same period in 2023 and 2024, reaching only 1.72% and 1.31%, respectively. Compared to the end of 2024, credit has increased by 2.62%.

Mr. Lenh commented that this is a positive result, clearly reflecting the positive impact of the socio -economic environment and flexible monetary management policies, especially the low interest rate level which is providing good support for production and business activities.

Credit in the area is mainly concentrated in the manufacturing sector (Photo: Tien Tuan).

Credit continues to focus on the manufacturing sector and the industry groups that play the role of growth engines. Of which, the city's nine key service industries account for more than 60% of GRDP, attracting more than VND1.4 trillion in outstanding loans, equivalent to 35.4% of total credit in the whole area, up 3.6% compared to the end of last year.

Along with the economic recovery, consumer credit has also improved. In the first quarter of the year, outstanding consumer loans increased by 2.3%, reaching VND1.1 quadrillion, in stark contrast to the downward trend of the same period last year. According to Mr. Lenh, people's spending needs are expanding, supported by increasingly diverse, flexible and high-tech consumer credit products.

Of which, outstanding consumer credit related to daily life, including loans for trade, tourism , and services, accounted for about 39.5% of total outstanding consumer credit in the whole area, up 4.5% compared to the end of last year. Of which, loans for purchasing household appliances and equipment increased the most, reaching an increase of 8.7%, accounting for 15.1% of total outstanding consumer credit.

In addition, consumer credit for housing purposes also plays a key role. Total outstanding loans for home purchases for residential use currently reach VND688,000 billion, accounting for 60.5% of total consumer credit, up slightly by 1% compared to the end of 2024.

Although the growth rate is not high, with its large scale, this segment plays a stable role and has a positive impact on both the real estate market and the Government 's housing development strategy, Mr. Lenh shared.

Source: https://dantri.com.vn/kinh-doanh/lan-dau-tin-dung-tai-tphcm-vuot-moc-4-trieu-ty-dong-20250514155510030.htm