On December 30, 2024, the State Bank of Vietnam (SBV) sent a document to credit institutions (CIs) to publicly and transparently announce the principles for assigning credit growth in 2025. Accordingly, the SBV expects credit growth for the entire system in 2025 to be about 16%.
In line with the Resolution of the National Assembly, the direction of the Government and the Prime Minister, the SBV continues to implement credit management solutions in line with macroeconomic developments, contributing to promoting economic growth and controlling inflation. In order to facilitate credit institutions to provide credit capital to meet economic growth needs, the SBV has publicly announced the principles for assigning credit growth targets for 2025 for credit institutions to proactively implement.
The level of credit growth target allocation for each credit institution is based on the results of the 2023 rating scoring as prescribed in Circular 52/2018/TT-NHNN (amended and supplemented), multiplied by the coefficient applied to all banks. At the same time, the State Bank continues to implement a roadmap to limit and eventually eliminate the management of credit growth target allocation for each credit institution according to Resolution 62/2022/QH15.
The State Bank requires credit institutions to conduct credit growth safely, effectively, in accordance with legal regulations, in line with risk management capacity, liquidity situation and capital mobilization capacity. In addition, it is necessary to ensure credit quality, use capital for the right purposes, limit bad debt, and at the same time increase capital flow into production and business sectors, priority sectors and growth drivers according to the Government's policy. On the other hand, credit institutions must strictly control credit for potentially risky sectors, improve assessment and appraisal capacity, and strictly handle cases of law violations in credit granting activities.
The State Bank encourages credit institutions to continue to cut costs, promote the application of information technology, and digital transformation, thereby creating room to strive to reduce lending interest rates.
In 2025, the State Bank will closely monitor socio-economic developments to proactively, flexibly, promptly, effectively and scientifically manage credit growth; ensure adequate capital supply for the economy, while maintaining system safety. In case of practical requirements, the State Bank will proactively adjust credit growth targets, creating conditions for credit institutions to promptly supply capital without a written request.
