According to the latest statistics of the State Bank of Vietnam (SBV), by the end of July 2025, credit in the entire system increased by 9.64% compared to the end of last year. In the context of accelerating credit, the SBV has increased credit targets for many commercial banks, in an effort to direct capital flows into production - business, priority sectors and economic growth drivers...
Banks pump capital into businesses amid rising lending rates
In 2025, the State Bank of Vietnam aims to increase system-wide credit growth to about 16% to promote economic growth associated with macroeconomic stability and inflation control.
To achieve a breakthrough in credit growth, the State Bank said that the entire industry has implemented a series of credit programs, such as the loan program to build social housing, workers' housing; renovate and rebuild old apartments according to Resolution 33/NQ-CP (currently the scale is 145,000 billion VND).
Credit program of 500,000 billion VND for loans to invest in infrastructure and digital technology to implement key/important national projects in the fields of transportation, electricity and digital technology. Loans for the agriculture - forestry - fishery sector (increasing the scale to 100,000 billion VND).
According to the reporter of Nguoi Lao Dong Newspaper, many commercial banks have higher credit growth than the average of the whole industry such as: Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) increased by 10.3%; Vietnam Technological and Commercial Joint Stock Bank (Techcombank) 10.6%; Military Bank (MB) 12.5%; Ho Chi Minh City Development Joint Stock Commercial Bank ( HDBank ) 18.2%...
At the recent conference to review the first 6 months of the year and deploy tasks for the last 6 months of 2025, Mr. Pham Toan Vuong, General Director of the Bank for Agriculture and Rural Development of Vietnam (Agribank), said that Agribank's outstanding credit balance reached over 1.85 million billion VND, an increase of 7.6% compared to the beginning of the year.
"Agribank has promptly implemented 13 credit programs/products with a scale of VND400,000 billion to boost credit growth right from the beginning of the year; increased the scale and expanded the scope of the credit program for the agriculture, forestry and fishery sector to VND20,000 billion. Agribank has continuously resolved difficulties, increased access to capital for people and businesses; reduced costs, and reduced lending interest rates to support customers," said Mr. Vuong.
A notable development is that despite the recent upward trend in deposit interest rates, lending interest rates remain stable and even decrease.
Deputy Governor of the State Bank of Vietnam Pham Thanh Ha said that in managing interest rates in the first half of 2025, the management agency will continue to maintain the operating interest rates, creating conditions for credit institutions to access capital sources from the State Bank of Vietnam at low costs, thereby creating conditions to support the economy.
Lending interest rates continue to trend downward. The average lending interest rate for new transactions of commercial banks is currently at 6.29%/year, down 0.64 percentage points compared to the end of last year.
Credit growth of the entire banking system reached 9.64% in the first 7 months of the year, pumping capital into businesses, contributing to promoting economic growth. In the photo: Agribank staff talking with customers Photo: LAM GIANG
Businesses "breathe easier"
By the end of July, credit growth across the system reached 9.64%, the highest in the past few years - meaning about VND1.55 trillion was pumped into the economy. In this context, many businesses said that accessing capital from commercial banks was also "easier".
Mr. Nguyen Cong Tin, Director of Bologna Trading and Service Company Limited - operating in the agricultural sector, said that recently, many banks have proactively contacted and offered preferential interest rate loan packages, ranging from 8% - 10%/year. This interest rate has decreased compared to before.
According to Mr. Tin, if interest rates decrease further, the company will borrow to invest in production and business such as upgrading factories, expanding raw material areas, new farming and building facilities to create momentum for development next year.
Mr. Le Hong Duc, founder of OneAds Digital Company Limited, said that the company is borrowing capital from the bank to serve its operations. He is considering borrowing more to expand its scale, especially to invest in software systems to improve the quality of service for customers. However, he is still hesitant because the market is currently quite quiet.
"If credit capital with more comfortable interest rates is available, it will certainly create a great driving force for the market to become vibrant again, thereby promoting business development," said Mr. Duc.
Many enterprises said that in addition to capital from banks, there are currently a number of capital support policies from the state budget for the agricultural sector, such as non-refundable capital, 0% interest rate capital with a term... but it is very difficult to access due to lack of information. Mr. Nguyen Cong Tin proposed that there should be a channel to guide these support capital sources as well as an access process so that enterprises can participate.
From another perspective, Mr. Dinh Hong Ky, Vice President of the Ho Chi Minh City Business Association (HUBA), acknowledged that the current difficulties of some enterprises, especially small and medium enterprises, do not come from difficulty in accessing credit capital but from reduced export orders and consumer markets... "Credit capital flowing strongly into the economy is good, but it is necessary to orient and direct the flow so that capital is focused on priority areas such as technology, green credit, and social housing for sustainable economic development" - Mr. Dinh Hong Ky emphasized.
Mr. Nguyen Xuan Thanh, Fulbright School of Public Policy and Management, said that from now until the end of the year, the State Bank should maintain the current interest rate level. If there is pressure to increase interest rates, especially in the interbank market, the operator will increase liquidity for the system by injecting capital through the open market, issuing treasury bills or valuable papers...
Recommendations for businesses to borrow credit
In the 2025 Business Confidence Report recently published by the Private Economic Development Research Board (Board IV), businesses proposed many solutions to support access to credit capital.
Accordingly, businesses wishing to borrow unsecured loans with low interest rates based on their financial statements and business performance. Loans are given to small businesses if they have a good tax payment history from the second year of establishment with low interest rates and no collateral required, with a small capital of 100 - 200 million VND.
Propose to immediately erase bad debts on the National Credit Information Center (CIC) system for businesses and people when they have fully paid off so that they can re-borrow with suitable assets and continue to rotate cash flow for survival and development.
Source: https://nld.com.vn/ngan-hang-cap-tap-bom-von-cho-doanh-nghiep-19625080221315201.htm
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