Bank credit - the driving force of Khanh Hoa's economy

Bank capital flows are and will continue to play a key role in the journey of recovery, acceleration and bringing Khanh Hoa's economy to the finish line not only in 2025 but also in the new development stage after administrative merger...

Capital flows to unlock growth

Recently, the banking system in Khanh Hoa has developed strongly, becoming an important driving force to promote the local socio-economic development. Up to now, the whole province has 53 level 1 bank branches, 19 level 2 branches, 157 transaction offices, 7 people's credit funds; 416 ATMs and more than 5,118 POS machines covering all areas...

Since the beginning of 2025, credit institutions in the area have proactively implemented many synchronous solutions to promptly meet capital needs for production and business. Credit capital flows are focused on priority areas under the direction of the Government, contributing to unlocking resources and creating momentum for economic growth in the province.

According to Mr. Luong Phan Sang, Director of Vietcombank Khanh Hoa, the bank is always aware of its role and responsibility in providing capital for the economy. Our credit growth is always linked to the goal of supporting investment, production and business, thereby contributing to stabilizing people's lives and promoting consumption.

Commercial banks in Khanh Hoa have implemented many synchronous solutions to promptly meet capital needs for production and business.

Credit institutions are also constantly innovating, diversifying products, simplifying lending procedures, shortening approval time, and being flexible in the use of collateral. Many banks have reduced interest rates, implemented preferential interest rate programs, and supported businesses to restore production and expand their business scale.

Thanks to that, the credit flow in the area continues to be unblocked, creating favorable conditions for many businesses to expand investment and improve production capacity. According to the report of the State Bank of Vietnam, Branch Region 10, by the end of September 2025, the total capital mobilization in Khanh Hoa province reached 179,346 billion VND, up 12.63% compared to the beginning of the year; outstanding loans reached 198,051 billion VND, up 7.39%. Of which, outstanding loans to the private economic sector accounted for 98.3% of the total outstanding loans in the area, reaching 194,686 billion VND, up 7.78% compared to the beginning of the year.

It is estimated that by the end of October 2025, the outstanding loans of credit institutions in the area will reach VND 199,150 billion, an increase of VND 14,720 billion compared to the beginning of the year, an increase of 7.98%, and an increase of VND 20,383 billion compared to the same period last year, an increase of 11.4%. Loan turnover is estimated at VND 263,156 billion, an increase of 15.78% compared to the same period last year.

Credit serving agriculture and rural areas in Khanh Hoa is having an impressive growth rate of 15.63%.

In parallel with growth, credit institutions in the area always focus on controlling and improving credit quality. Regularly check, monitor, and evaluate the use of loans, grasp the business situation, customers' ability to repay debts, the status of collateral... From there, build effective and feasible debt collection plans for each customer and related customer group...

Directing credit to priority sectors

In addition to expanding lending, credit institutions in Khanh Hoa have also actively implemented the bank-business connection program to remove difficulties and create favorable conditions for businesses to access capital. Many cooperation signing sessions with industry associations, business associations and economic organizations are held regularly, helping banks grasp the reality and promptly adjust appropriate credit policies.

In the first 9 months of 2025 alone, local banks disbursed more than VND 3,248 billion under this connection program. Of which, many small and medium-sized enterprises have access to preferential loans, reducing cost pressure, recovering operations after a difficult period...

The efforts of the banking sector have significantly contributed to the socio-economic development of the locality. In the first 9 months of 2025, Khanh Hoa's GRDP increased by 7% over the same period; the industrial production index (IIP) increased by 6.42%; total retail sales of goods and consumer service revenue increased by 15.6%; tourism revenue increased by 19.2%; export turnover increased by 8.7%. State budget revenue reached 103.1% of the estimate assigned by the Central Government...

Credit growth is linked to the goal of supporting investment, production and business, contributing to stabilizing people's lives.

These figures clearly reflect the effectiveness of credit capital flows in supporting production and business, stimulating local economic vitality. This is also a solid foundation to help Khanh Hoa accelerate in the last quarter of the year, aiming for a GRDP growth target of 8.1% in 2025, while continuing to complete infrastructure, clear land for key projects, and promote the main growth drivers of the locality.

Despite many positive results, banking activities in Khanh Hoa have faced some difficulties recently. The demand for loans in the industrial and import-export sectors is still weak; after administrative mergers, many mortgage files and loan contracts need to be adjusted, causing the disbursement process to be prolonged. Some legal procedures related to secured assets, lawsuits, and auctions are still stuck.

In particular, the change of administrative boundaries requires updating many business licenses, “red books”, and transaction documents, leading to delays in appraisal and disbursement. Some administrative procedures at the Public Administration Center are still prolonged, causing difficulties for banks in registering collateral and completing credit records…

Bank credit has been promoting Khanh Hoa's economic stability and development.

In that situation, to continue promoting credit growth and contributing to local economic development, Mr. Bui Huy Tho, Director of the State Bank of Vietnam Branch Region 10, said: "We continue to closely follow the direction of the Government and the State Bank of Vietnam, proactively advising localities to implement monetary and credit policies in accordance with reality; at the same time, closely monitor the disbursement progress, ensuring that capital flows to the right address, right subjects, safely and effectively."

Specifically, from now until the end of the year, the banking system in Khanh Hoa will continue to direct credit to the fields of production - business, export, consumption, rural agriculture, as well as new growth areas such as green economy, digital economy, innovation, science and technology. Credit institutions will continue to review and simplify loan procedures, creating maximum convenience for people and businesses to access capital, while still ensuring the principles of safety and sustainability in credit activities.

In addition to those efforts, the People's Committee of Khanh Hoa province has strengthened the direction of relevant departments and branches to closely coordinate with the State Bank of Vietnam Branch Region 10 in removing obstacles, ensuring the banking system operates safely and effectively, contributing positively to the socio-economic development of the locality. Directing competent authorities to provide information to the banking system on regional development planning, list of projects calling for investment, and loan needs of enterprises in the area. In particular, information on key projects such as Ninh Thuan Nuclear Power Plant, infrastructure projects, tourism, urban areas, etc. to proactively arrange credit capital sources, etc.

Source: https://thoibaonganhang.vn/tin-dung-ngan-hang-dong-luc-thuc-day-kinh-te-khanh-hoa-173108.html