Adjustment to credit growth target for 2025

According to the State Bank, in line with the resolutions of the National Assembly, and the directions of the government and the prime minister, the State Bank of Viet Nam is managing monetary policy in a proactive, flexible, timely, and effective manner, thereby ensuring close, harmonious, and synchronised coordination with fiscal policy and other macroeconomic policies. The aim is to strongly prioritise economic growth while maintaining macroeconomic stability, controlling inflation, and ensuring the major balances of the economy.

Since the beginning of 2025, the State Bank has assigned credit growth targets to credit institutions. As of July 28, credit across the entire system has increased by 9.64% compared to the end of 2024.

Given that inflation has been brought under control in accordance with targets set by the National Assembly and the government, and following the government’s and prime minister’s directions on ensuring timely, effective, and appropriate credit growth management to meet the capital needs of the economy, on July 31 the State Bank announced an increase in the 2025 credit growth targets for credit institutions based on specific principles ensuring transparency and openness.

This additional credit limit is initiated proactively by the State Bank and does not require proposals from credit institutions.

Alongside the limit adjustment, the State Bank requires credit institutions to strictly implement directives from the government, government leaders, and the State Bank, and to decisively carry out credit activity solutions aimed at improving business efficiency, ensuring system safety, and maintaining monetary market stability.

The focus is on ensuring safe and effective credit growth, directing credit towards production and business sectors, priority areas, and key economic growth drivers in line with the policies of the government and the prime minister, as well as on exercising strict control over high-risk sectors.

Additionally, credit institutions are required to maintain stable deposit interest rates and strive to reduce lending interest rates through cost-cutting measures, enhanced application of information technology, streamlined administrative procedures, and organisational restructuring.

The State Bank also requests credit institutions to continue implementing policies to ease difficulties in accessing credit for businesses and individuals.

The State Bank affirms that in the time ahead, it will continue to closely monitor domestic and international market developments, remain ready to support liquidity, facilitate credit supply to the economy, and promptly adopt appropriate monetary policy measures.

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