Vietnam credit growth to exceed government’s target


S&I Ratings Joint Stock Company analysts said credit growth could even accelerate to 17% to 18% this year if positive momentum continues. — VNA/VNS

HANOI: The Vietnamese government’s credit growth target of 16% for 2025 looks well within reach, as analysts predict the economy’s steady recovery will keep capital demand strong.

In a recent banking industry report, S&I Ratings Joint Stock Company analysts said credit growth could even accelerate to 17% to 18% this year if positive momentum continues.

Large joint stock commercial banks such as MB, VPBank and HDBank, which absorbed three weaker banks and received incentives including reduced reserve requirements and credit expansion support, are expected to see outstanding growth rates of 25% to 30% in 2025, according to analysts.

Furthermore, the State Bank of Vietnam boosted lending capacity on July 31 by extending credit limits for banks that had already used more than 80% of their initial quotas, opening the door for further credit growth in the final months of the year.

By the end of August 2025, outstanding loans across the banking system had risen by 11.8% since the end of 2024 and were 20.6% higher than the same period last year.

MB Securities Joint Stock Company analysts echoed this positive outlook in their year-end credit growth report, noting most banks are on track to meet their targets despite challenges posed by declining net interest margins.

“In particular, banks which focus on lending to public investment and small and medium enterprises, maintain stable net interest margin and asset quality.

“And have strong capital raising rates will likely continue to make a breakthrough in credit growth in the rest of the year,” the MBS analysts predicted. — Viet Nam News/ANN

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