Ho Chi Minh City bank lending growth down in early this year
Despite Ho Chi Minh City-based banks’ efforts to provide preferential loans, credit growth declined slightly in the first two months of 2025.
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| Credit growth will continue to be the key target in Vietnam’s new development policy. (Source: vnbusiness.vn) |
According to deputy director of the State Bank of Vietnam’s Ho Chi Minh City office Nguyen Duc Lenh, outstanding credit as of February was 3.936 trillion, down 0.17% from December 2024 but 12.2% up year-on-year.
But credit flows to key economic sectors remained stable.
Foreign currency lending to import-export businesses grew by 1.37% month-on-month.
Lenh said Ho Chi Minh City banks’ lending remained concentrated on production, business, trade, services, and consumption.
Loans to these sectors account for about 75% of the total amount and mainly meet short-term funding needs.
Lending in February increased by 14% from the previous month.
The central bank’s Ho Chi Minh City office said economic growth solutions help increase the ability to absorb capital and promote credit growth.
Stable, low interest rates and programmes to link banks and businesses would further promote production and consumption, boosting credit growth, the office added.
The state bank aims for 16% credit growth this year.
(Source: VNA)
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