Effective implementation of bank credit contributes to economic growth

In line with the Party's orientations and policies, the resolutions of the National Assembly and the Government on the socio -economic development plan for 2025, the State Bank of Vietnam has concretized these into goals and solutions for the entire system. The State Bank of Region 11 is determined to implement many solutions from the beginning of the year to promote healthy and effective credit growth, contributing to promoting economic growth in the Central Highlands region.

Agribank Dak Lak branch staff advise customers on the unit's credit sources.

Many solutions to increase credit growth

The State Bank of Region 11 has the management scope of five provinces in the Central Highlands: Dak Lak , Dak Nong, Gia Lai, Kon Tum and Lam Dong. The provinces have quite different socio-economic conditions between the highlands, valleys and plateaus; the geographical distance between the headquarters in Dak Lak province and some other provinces is quite far, transportation is difficult, and infrastructure is limited. However, the network of credit institutions in Region 11 has been expanded from urban centers to mountainous districts, remote areas, meeting the demand for financial services, banking and currency and serving the goal of local socio-economic development. The whole region currently has 32 credit institutions operating with 115 level 1 branches, five branches of the Social Policy Bank, 51 people's credit funds, more than 1,170 level 2 branches...

According to Deputy Governor of the State Bank Doan Thai Son, in recent times, the entire sector has made efforts to implement solutions to remove difficulties and increase credit for production and business. Completing the Law on Credit Institutions 2024 and guiding documents, creating a legal framework for credit institutions to implement new credit granting operations, convenient for customers. Actively and flexibly operating credit policies; requiring credit institutions to strictly implement the direction of the Government, the Prime Minister and the State Bank on stabilizing deposit interest rates, reducing lending interest rates, innovating credit management measures... In 2025, the State Bank will monitor macroeconomic developments and the actual situation to proactively adjust credit growth targets; resolutely implementing solutions to remove difficulties, increasing access to credit for customers. The policy to support businesses is implemented based on the motto of sharing difficulties and accompanying people and businesses with the banking industry's own resources... Therefore, credit institutions have adjusted their plans, business targets, and profits to have conditions to support people and businesses.

Mr. Nguyen Kim Cuong, Acting Director of the State Bank of Vietnam, Region 11 Branch, said: In recent times, the entire banking sector in Region 11 has made efforts to implement solutions to remove difficulties and increase credit for production and business. As of February 28, 2025, the total outstanding credit balance in Region 11 reached over VND 590 trillion, an increase of 0.54% compared to the end of 2024, accounting for about 3.75% of the total outstanding debt of the entire economy. The credit structure is consistent with the economic development orientation of the region, such as: credit for the trade and service sector accounts for more than 54%; agriculture, forestry and fishery accounts for about 33%. Credit is focused on priority sectors according to the policies of the Government and the State Bank, such as: loans for agricultural and rural development account for 62% of the total outstanding debt in the region; In which, some key agricultural products such as coffee account for 73% of the national coffee debt; pepper accounts for 47% of the national pepper debt; rubber accounts for 12% of the national rubber debt...

Flexible management of monetary and credit policies

At the conference on promoting bank credit, contributing to promoting economic growth in region 11, recently organized by the State Bank in Buon Ma Thuot city, Dak Lak province, representatives of units under the State Bank, commercial banks, leaders of the People's Committees of the Central Highlands provinces and enterprises focused on exchanging and discussing the results of credit activities in the Central Highlands provinces in the first months of 2025. Some contents that delegates were interested in were: credit for priority areas; lending interest rate policy; the ability to effectively expand credit in 2025, contributing to promoting sustainable economic growth...

Vice Chairman of the Dak Lak Provincial People's Committee Truong Cong Thai said that the establishment of the State Bank of Vietnam Regional Branch 11 plays an important role, contributing resources to perfecting infrastructure, creating conditions for the banking sector to focus on implementing specific solutions and policies suitable to the socio-economic conditions of the Central Highlands, promoting credit growth, meeting capital needs for production and business of people and enterprises in the provinces in the region.

According to the report of the State Bank of Vietnam, Regional Branch 11, by the end of the first quarter of 2025, the total outstanding loans of the region are estimated to reach more than VND 593 trillion, an increase of VND 5,858 billion compared to the beginning of the year. Of which, outstanding loans for agricultural and rural development are estimated at VND 364,142 billion, accounting for 61.33% of the total outstanding loans, an increase of VND 4,007 billion compared to the beginning of the year; outstanding loans for small and medium enterprises are estimated at VND 56,327 billion, an increase of VND 1,595 billion compared to the beginning of the year. In particular, bank credit has been directed to production sectors, priority sectors and economic growth drivers such as consumption, investment and export under the direction of the Government and the State Bank of Vietnam, in which credit for agriculture and rural areas always plays a leading role, in accordance with the conditions and socio-economic development situation in the provinces in the region. Bank credit resources will make an important contribution to helping Dak Lak province in particular and the Central Highlands provinces in general accelerate, make breakthroughs, and strive to achieve the highest economic growth targets of 8% or more in 2025, aiming for double-digit growth in the period 2026-2030.

According to Nguyen Kim Cuong, Acting Director of the State Bank of Vietnam, Region 11 Branch, to promote credit growth, the State Bank of Vietnam, Region 11 will continue to closely follow the direction and socio-economic development program of localities in the region; synchronously implement solutions on monetary and credit policy management. In addition, promote credit growth from the beginning of the year, direct credit to production and business sectors, priority sectors, growth drivers; strictly control credit for sectors with potential risks...

However, in addition to the banking sector's solutions, it is necessary to have coordination among authorities at all levels, departments, branches, sectors, and relevant associations in the provinces in the region to deploy effective and synchronous solutions and policies, helping people and businesses stabilize production and business, develop sustainable socio-economy, and contribute to achieving the economic growth targets set by the Government and localities.

In line with the Party's orientations and policies, the National Assembly's and the Government's resolutions on the socio-economic development plan for 2025, the State Bank of Vietnam has concretized these into goals and solutions for the entire system. The State Bank of Region 11 is determined to implement many solutions from the beginning of the year to promote healthy and effective credit growth, contributing to promoting economic growth in the Central Highlands region.

Source: https://baodaknong.vn/thuc-hien-hieu-qua-tin-dung-ngan-hang-gop-phan-tang-truong-kinh-te-250397.html