VIETNAM’S CREDIT TOPS VND19.18 QUADRILLION, FLOWS INTO PRODUCTION SECTORS

Seafood processing at a factory in the Mekong Delta - PHOTO: TRUNG CHANH

HCMC – Total outstanding loans in Vietnam’s banking system had reached over VND19.18 quadrillion in the year to March 31, up 3.18% against the end of 2025, with lending largely directed toward production and priority sectors, according to the State Bank of Vietnam.

Data released at the central bank’s first-quarter press briefing on April 14 showed that several Government-backed lending programs have recorded notable disbursement progress. A credit package for the forestry and fisheries sectors has been expanded sharply, from VND15 trillion to VND185 trillion.

Meanwhile, a lending program supporting production, processing and consumption of high-quality, low-emission rice in the Mekong Delta had by end-February disbursed around VND3.6 trillion after nine months of implementation.

Credit institutions are also accelerating disbursement of loans for social housing, support for homebuyers under 35, and a VND500-trillion credit program aimed at infrastructure and digital technology investment.

At the same briefing, the central bank reported Vietnam’s gross domestic product grew 7.83% in the first quarter, while core inflation rose 3.63%. To support the economy, it would maintain its policy rates to ensure banks can access funding at low cost.

On interest rates, around 26 commercial banks had cut deposit rates following a meeting on April 9, with reductions ranging from 0.1 to 0.5 percentage point per year, for terms of six months or longer. The move is expected to create room for potential lending rate cuts in the coming period.

Regarding exchange rate management, the central bank said it would continue monitoring global market developments and pressure from the U.S. dollar to ensure flexible operations, while meeting the economy’s foreign currency demand. The overarching goal is to keep average inflation at around 4.5% in 2026 and maintain macroeconomic stability.

Source: The Saigon Times

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