Continuing the positive growth momentum.
According to a report from the State Bank of Vietnam's regional branch 9, credit to the trade and service sector in Da Nang city continues to maintain positive growth as the city's economy continues to recover strongly. Commercial banks are accelerating the implementation of a series of preferential credit programs for institutional and individual customers. Not only are short-term loans available, but many medium and long-term loan packages are also offered with attractive interest rates to stimulate consumer and investment demand. Many large banks are launching flexible consumer loan packages to meet diverse customer borrowing needs.
As of now, outstanding credit to the trade and service sector in the city has reached VND 312,531 billion, an increase of 23.99% compared to the end of 2024, accounting for 72.85% of the total outstanding credit in the entire city. This growth rate is significantly higher than the other two sectors: agriculture , forestry, and fisheries, and industry and construction. Several key factors contributing to this positive result include the strong recovery of trade and service activities in the city. The wholesale and retail sector is affected by seasonal factors, and the demand for capital to prepare goods and finances has increased sharply before the peak season at the end of the year and the Lunar New Year. Meanwhile, the resurgence of tourism has also contributed to stimulating demand and improving domestic purchasing power.
Ms. Do Thi Tuong Linh, Head of the General Department of the State Bank of Vietnam, Branch 9, said that in order to expand access to credit for various entities at the end of the year, the State Bank of Vietnam, Branch 9, has directed credit institutions to proactively reduce costs to lower lending interest rates. Interest rates for credit programs and packages are publicly and transparently disclosed to make them more accessible to businesses. Policies supporting businesses and households are being implemented in line with the direction of the State Bank of Vietnam . Currently, the interest rate for newly arising loans in the area continues to decline, contributing to economic recovery. Specifically, short-term lending interest rates are commonly 5.5 - 7.5%/year; the maximum short-term lending interest rate for the 5 priority sectors is 4.0%/year; and medium and long-term lending interest rates are commonly 8.0 - 10.0%/year, applicable to many commercial and service projects needing to expand investment.
Forecasts from the State Bank of Vietnam's regional branch 9 indicate that in the last two months of 2025, credit to the trade and service sector will continue its upward trend due to businesses expanding production and operations to serve the Lunar New Year, along with increased demand in the wholesale, retail, and accommodation and food service sectors.
From now until the end of the year, many major consumer spending stimulus programs will be implemented. During this time, retail systems and manufacturing businesses will also simultaneously launch numerous stimulus programs and large-scale promotions to attract purchasing power and encourage credit borrowing among individual customers.
For example, the demand for consumer loans in the areas of home and car purchases has increased significantly. In the last months of the year, the number of car buyers increased sharply, with a large proportion of customers using bank loans, signaling that the consumer finance market is recovering while the potential for growth remains very large. The system of credit institutions in the area is meeting the demand for legitimate and safe capital, in accordance with the policy of the State Bank of Vietnam.
The pillar of support for businesses and consumers.
As the state management agency for monetary, banking, and foreign exchange activities in Da Nang, Hue, and Quang Ngai provinces and cities, the State Bank of Vietnam's Branch 9 has actively implemented a comprehensive set of solutions to enhance the effectiveness of credit capital in accordance with the Party and Government's views and orientations on economic development; integrating credit growth targets into the development orientation of the banking sector and in the implementation of monetary and credit policies, creating favorable conditions for organizations and individuals to carry out projects.
Mr. Nguyen Xuan Son, Director of Huong Que Production, Processing, Trading and Import-Export Company Limited (Hoa Khanh Ward), expressed that credit capital from banks has always been a support system helping businesses convert capital into investments for production and business activities. With current lending interest rates, businesses are encouraged to borrow capital boldly to expand their scale and production and business operations.
Year-end credit activity flowing into the trade and service sector also demonstrates a preference for environmentally friendly projects and business plans. Credit institutions lending for consumption, investment, and production needs without posing risks to the environment contributes to protecting the overall ecosystem.
Mr. Le Anh Xuan, Director of the State Bank of Vietnam's Branch in Region 9, stated: "Currently, we are focusing on directing credit institutions and foreign bank branches in the area to concentrate resources on providing credit for projects and business plans in all sectors and fields; prioritizing environmentally and socially friendly projects, and promoting green credit growth. We are stepping up the dissemination of information about credit programs for green sectors through mass media and our own channels."
Regarding green credit outstanding in the area, Mr. Xuan said that more than 30 branches of credit institutions have generated green credit outstanding totaling over 11,000 billion VND, accounting for nearly 2% of the total outstanding loans; mainly concentrated in the renewable energy and clean energy sectors (accounting for about 35% of the total green credit outstanding).
Source: https://baodanang.vn/rot-von-vao-thuong-mai-dich-vu-3312238.html
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