Ho Chi Minh City credit exceeds 4.1 million billion VND after 5 months

(Dan Tri) - By the end of May, total outstanding credit in Ho Chi Minh City exceeded VND4.1 trillion for the first time, up nearly 4% compared to the end of 2024 - double the increase in the same period of the previous two years, which was only around 1.9%.

Recently, Mr. Nguyen Duc Lenh, Deputy Director of the State Bank of Vietnam (SBV) Region 2 branch, said that by the end of May, the total outstanding credit balance in the area reached more than 4.1 million billion VND, an increase of 3.89% compared to the end of 2024 and an increase of 13.64% compared to the same period last year.

Mr. Lenh assessed that the credit growth situation in the past 5 months recorded many positive points. Firstly, credit continued to maintain an upward trend and the growth rate was higher than the same period in the last two years. Specifically, in 5 months, credit growth reached 3.89%, while in the same period in 2024 and 2023, it both reached an increase of 1.9%.

Credit in Ho Chi Minh City by the end of May reached an increase of 3.89% (Illustration photo: Manh Quan).

Second, many favorable factors have contributed to promoting credit such as monetary policy, reasonable interest rates, improved investment environment and economic recovery. In particular, low interest rates continue to play a positive supporting role for production and consumption activities.

Credit for wholesale, retail, auto, motorbike and other motor vehicle repair has grown again in the past two months, reaching over VND580 trillion, up 0.34% from the beginning of the year and up 15.1% over the same period. Credit for the processing and manufacturing industry reached VND557 trillion, up 2.37% from the end of the year and up 9.35% over the same period.

Third, new growth drivers such as digital economy and green economy are creating more positive expectations, as new policies are issued to implement central resolutions, promote the formation of an international financial center and expand urban development space after the city's administrative boundaries are merged.

Source: https://dantri.com.vn/kinh-doanh/tin-dung-tphcm-vuot-41-trieu-ty-dong-sau-5-thang-20250625110427055.htm