Ho Chi Minh City: Outstanding credit balance in 4 months increased by 2.62%

State Bank of Region 2 assesses that credit is focusing on the city's key production and business sectors and products - Photo: Dinh Hai

According to Mr. Nguyen Duc Lenh - Deputy Director of the State Bank of Vietnam, Ho Chi Minh City branch, as of the end of April 2025, the total outstanding credit balance in the area reached VND 4,046 trillion, an increase of 2.62% compared to the end of 2024 and a sharp increase of 12.78% compared to the same period last year.

This is the first time the credit scale in the area has exceeded 4 million billion VND - an important milestone, reflecting a positive signal from the internal strength of the economy as well as the effectiveness of monetary and credit policy management of the State Bank of Vietnam.

Compared to the same period in recent years, credit growth in the first 4 months of 2025 was significantly stronger, double the 1.31% increase in the first 4 months of 2024 and significantly higher than the 1.72% increase in the same period in 2023.

Assessing the reasons for credit growth, Mr. Lenh said that a favorable socio-economic environment, along with appropriate and flexible monetary and credit policies and mechanisms, are the main factors driving credit growth. In particular, the low interest rate policy has been effective in supporting businesses to recover and expand production and business after a difficult period.

“The effectiveness of management policies not only helps to unclog credit flows but also promotes banking activities, contributing to the economic growth of the city in particular and the country in general,” said Mr. Lenh.

A notable point is that credit flows continue to be directed towards the production and business sector, especially key service sectors - which are the driving force of economic growth in Ho Chi Minh City.

Specifically, credit for 9 main service sectors (contributing more than 60% of total products in Ho Chi Minh City), including: trade, tourism, communications, science and technology, healthcare, education, finance, arts and entertainment... has reached over 1.4 million billion VND, accounting for 35.4% of total outstanding credit in the area; this outstanding debt level increased by over 3.6% compared to the end of 2024.

Credit growth figures from the State Bank of Vietnam, Region 2 branch, also show an improvement in the economy’s ability to absorb capital - a key factor for sustainable credit expansion. When credit flows in the right direction, focusing on efficient production and service sectors, it not only contributes to stabilizing the banking system but also creates momentum for overall economic growth.

“The current credit growth process is closely linked to economic recovery and growth. If the economy continues to maintain good capital absorption capacity, credit will continue to be an important growth driver in the coming time,” Mr. Nguyen Duc Lenh emphasized.

Source: https://thoibaonganhang.vn/tp-ho-chi-minh-du-no-tin-dung-4-thang-tang-262-164103.html