Pioneering the implementation of directives, strictly controlling risks
For many years, real estate has always been one of the sectors accounting for a large proportion of the total outstanding debt of the banking system. In 2025, real estate credit increased by 42%, nearly double the credit growth rate of the entire system of 19%. Real estate outstanding debt accounts for about 25.5% of the total outstanding credit of the economy. In that context, the Government and the SBV have continuously issued close directives to stabilize the macroeconomy, control inflation and ensure the safety of the banking system. In which, controlling credit capital flows into potentially risky sectors such as real estate is always one of the top priorities.
In Official Dispatch No. 4551/NHNN-CSTT on credit growth in 2026 sent to 25 credit institutions, the SBV stipulates that from January 1, 2026 to the end of December 31, 2026, credit institutions do not have to calculate the additional credit balance compared to the end of 2025 for social housing, industrial parks and export processing zones into real estate credit balance when controlling real estate credit growth according to Point 4 of Official Dispatch No. 11686/NHNN-CSTT dated December 31, 2025. According to the SBV, the adjustment of the calculation method aims to create conditions for credit institutions to provide capital for some types of real estate in accordance with the policy of developing the real estate market and the socio-economic development goals of the Government.
Closely following that direction, Agribank has proactively implemented a series of synchronous measures to control the growth rate and credit quality for the real estate sector. In management work, Agribank manages real estate credit growth in a proactive, flexible and quality-oriented direction. The allocation of growth targets is carried out to each branch, combined with regular monitoring of the implementation situation to promptly adjust to suit the actual capital needs, growth capacity and credit quality of each unit. At the same time, Agribank strengthens control over loans showing signs of speculation, focusing capital on projects with full legal basis, meeting real housing needs and serving production and business activities.
In particular, according to Official Dispatch No. 10669/NHNo-TD dated June 23, 2026 on growth for the real estate sector in 2026 and risk control for collateral assets being land use rights and assets attached to land located in planning or subject to recovery and clearance, the General Director of Agribank requests Branches throughout the system to focus on reviewing and strictly controlling the appraisal process, assessing the financial capacity of investors/customers, the legality of the project as well as the capital recovery capacity. In addition, proactively review, access, and provide credit for real estate projects serving the actual housing needs of people, serving production and business activities according to assigned planned targets and ensuring safety, efficiency, and management capacity.
This shows that the requirement to control real estate credit at Agribank is not to "tighten" rigidly or prevent capital flows, but to implement intelligent ways to restructure the investment portfolio, ensuring safe and targeted profitable capital flows. Prioritizing capital flows for real estate projects serving real needs such as social housing, housing for low-income people, housing for workers in industrial parks/export processing zones instead of pouring capital flows into speculative projects, high-end segments or resorts with potential liquidity risks also clearly demonstrates Agribank's sensitivity and social responsibility.
Efforts to develop safe and efficient business, sustainable growth
As a state-owned commercial bank holding a leading role in the economy, especially in the agricultural and rural markets, Agribank always puts the factor "Safety - Efficiency - Sustainability" first. Strengthening real estate credit control is a strategic step to protect asset quality and maintain the bad debt ratio at a safe level according to regulations. As of June 30, 2026, Agribank's real estate sector credit balance reached 289,630 billion VND, down 15,462 billion VND (equivalent to 5.07%) compared to the beginning of the year. Although the scale of outstanding loans decreased, credit quality continued to be well controlled when the bad debt ratio was only at 0.87%, equivalent to 2,513 billion VND, down 0.04 percentage points (down 254 billion VND) compared to the beginning of the year.
In the context of a market with many changes, Agribank has promoted the application of information technology and digital transformation in risk management. The early warning and cash flow monitoring system after lending is operated continuously, helping the bank promptly detect and handle abnormal signs from capital flows allocated to the real estate sector. Thanks to this, capital is always preserved and optimized for use efficiency.
In parallel with risk control, Agribank continues to prioritize allocating capital sources for real estate sectors to serve real housing needs and socio-economic development, especially social housing, housing for low-income people, industrial park projects, export processing zones and effective projects that fully meet credit granting conditions according to regulations. In the first 6 months of 2026, Agribank approved nearly 1,000 billion VND and disbursed more than 500 billion VND for social housing projects and buyers in many localities across the country (Da Nang, Hai Phong, Bac Ninh, Quang Ninh, Lao Cai, Tuyen Quang, An Giang,...), contributing to the implementation of the Government's policy on social housing development.
Agribank prioritizes allocating capital sources for real estate sectors to serve real housing needs and socio-economic development, especially social housing, housing for low-income people, contributing to the implementation of the Government's policy of developing social housing.
Along with controlling credit in the real estate sector, Agribank focuses its efforts and prioritizes capital flows to meet the production and business needs of the economy. Especially priority sectors according to the Government's policy such as: agriculture and rural areas, exports, small and medium-sized enterprises (SMEs), supporting industries and green projects, sustainable development.
It can be seen that Agribank's efforts in controlling real estate credit growth are not separate from the general goal of the banking industry: Maintaining macroeconomic stability, supporting the recovery and healthy development of the country's economy; both encouraging capital flows into priority sectors serving social security and production, and maintaining control barriers for potentially risky segments, thereby ensuring safety for the financial system and supporting sustainable economic growth. The results achieved in the past time show that Agribank has effectively implemented the policy of credit management in the direction of strictly controlling credit quality, restructuring the real estate credit portfolio in a safe and sustainable direction, while limiting the generation of potentially risky loans, especially loans for speculative purposes or projects with unclear legality, consumption capacity and investment efficiency.
Persistently with a cautious but flexible strategy, controlling risks well but not missing the opportunity to accompany the economy, Agribank is proving its position as a modern, responsible financial institution, always ready to be a pioneer for the sustainable and prosperous development of the country.
