As of July 28, system-wide credit increased by 9.64% compared to the end of 2024. This year, the State Bank of Vietnam sets a credit growth target of about 16%.
The State Bank of Vietnam said that under the condition that inflation is controlled in accordance with the targets set by the National Assembly and the Government, the State Bank of Vietnam announced to adjust the credit growth target this year for credit institutions according to specific principles, ensuring publicity and transparency.
The addition of this limit is the initiative of the State Bank without the need for credit institutions to request it. The adjustment is also to implement the direction of the Government and the Prime Minister on managing credit growth appropriately, promptly, effectively, and meeting the capital needs of the economy .
The State Bank requires credit institutions to seriously implement the directions of the Government , Government leaders and the State Bank, and resolutely organize and implement solutions on credit activities to improve business efficiency, ensure system safety and stabilize the monetary market.
Units are required to increase credit growth safely and effectively, directing credit to production and business sectors, priority sectors and economic growth drivers according to the policies of the Government and the Prime Minister; and strictly control sectors with potential risks.
The State Bank also requires banks to continue to have policies to remove difficulties in accessing credit capital for businesses and people; and to grant credit to customers in accordance with the provisions of law and the direction of the State Bank.
Credit institutions need to comply with legal regulations on safety ratios, credit limits for customers, debt classification and risk provisioning; strengthen credit risk control, measures to handle bad debts, limit bad debts arising, conduct strict appraisal before granting credit and strengthen inspection and supervision before and after granting credit to ensure credit quality.
Recently, enterprises have also boosted production, while bank capital is an important tool to support the production and business process of enterprises.
Financial expert - Dr. Nguyen Tri Hieu analyzed that, along with the credit flow into the production and business sector, one of the relatively new factors recorded this year is that public investment disbursement increased higher than last year. Disbursed public investment capital is considered as seed capital to help increase credit growth.
According to experts, there are three main pillars for credit growth in the second half of the year: public investment, real estate and consumption.
Regarding the public investment sector, expert Nguyen The Minh - Director of Research and Development for individual clients of Yuanta Securities Vietnam commented that this will be one of the strongest growth drivers, boosting capital demand for infrastructure projects.
For the real estate sector, the lending interest rate is at a very low level and the real estate supply is gradually improving, the credit demand for this sector will be strongly stimulated again. This is an important factor to help unblock the capital flow of the bank.
Currently, the average interest rate for home loans ranges from 3.99% to 8.69% per year depending on the bank and term, about 2% lower than last year. Some banks also offer preferential interest rates from only 3.99% per year with a loan limit of up to 90% of the property value, with a loan term of up to 35 years.
As for the retail and consumer sector, many experts predict that this sector will likely recover more slowly and need more time, as it depends on the improvement of the overall economic picture. This momentum will be more evident at the end of the year, possibly in the fourth quarter of 2025, while the third quarter may still be a relatively challenging and difficult period.
Source: https://baolaocai.vn/tin-dung-chay-vao-san-xuat-kinh-doanh-post878565.html
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