Credit structure is consistent with the economic restructuring orientation.

(Chinhphu.vn) – Implementing the Government’s policy, the State Bank of Vietnam (SBV) has strongly directed the reduction of interest rates, credit growth and promotion of administrative reform. These are key solutions to support businesses, develop production, and at the same time contribute to ensuring the safety of the national financial system.

Mr. Pham Chi Quang - Director of Monetary Policy Department (SBV) - Photo: VGP/HT

Credit and interest rate management: Reducing costs, ensuring stability

Mr. Pham Chi Quang - Director of the Monetary Policy Department (SBV) said that in the first 9 months of 2025, the economy faced many challenges. Global economic and political shocks have directly affected the operations of domestic enterprises. In this situation, the Government and the Prime Minister issued many dispatches directing the banking sector to implement urgent solutions, focusing on two key areas: credit and interest rates.

Notably, the credit growth rate in the first 9 months is the highest in the past 15 years. Compared to the same period last year, the credit growth rate in the first 9 months of this year is also higher by over 4 percentage points. The above credit growth rate means that banks have disbursed net loans to the economy of nearly 2.1 million billion VND after 9 months, equivalent to an average of over 230,000 billion VND/month. With this credit growth rate, and the credit target to support economic growth, credit growth this year could reach 19-20%, also the highest increase in the past 15 years.

According to Mr. Quang, since 2022, the banking industry has been persistently making efforts to reduce lending interest rates. This is the result of a synchronous implementation of solutions, notably promoting the application of technology and digital transformation. Commercial banks have gradually reduced operating costs, streamlined staff, and optimized processes to have a basis for reducing lending interest rates.

"This is a great effort by the entire industry. Under the close direction of the State Bank, credit institutions have actively participated in lowering interest rates, creating conditions for businesses to access cheaper capital," Mr. Quang emphasized.

The State Bank also regularly provides liquidity to the market, ensuring that credit institutions have a stable, low-cost source of capital. However, Mr. Quang affirmed that injecting capital into the economy does not mean being subjective about inflation risks. The monetary authority closely monitors price pressure and regulates money supply through central bank tools, thereby reducing interest rates while maintaining macroeconomic stability.

"In the coming time, lending interest rates will continue to decrease thanks to liquidity support from the State Bank and credit institutions promoting digital transformation and saving operating costs," Mr. Quang affirmed.

Ms. Ha Thu Giang - Director of the Department of Credit for Economic Sectors (SBV) - Photo: VGP/HT

Capital flows strongly into priority sectors

Regarding credit quality, Ms. Ha Thu Giang - Director of the Department of Credit for Economic Sectors (SBV) added: Credit growth as of September 29 increased by 13.37% compared to the end of 2024, and credit structure also shifted positively, in line with the economic restructuring orientation. The credit ratio for agriculture, forestry and fishery reached 6.23%, industry - construction accounted for about 24%, and trade - services accounted for about 69%. In particular, credit for the field of science, technology and innovation increased by 13%.

Credit capital continues to focus on production and business and priority sectors, in which about 78% of the total outstanding loans of the economy serve production and business. Some sectors directed by the Government and the Prime Minister account for a large proportion, such as agriculture at about 23%, small and medium enterprises at over 19%. Supporting industry and high-tech sectors recorded credit growth rates of 23.14% and 25.02%, respectively.

In addition, specialized credit programs also achieved outstanding results. The agricultural, forestry and fishery loan program disbursed nearly VND 106,000 billion, exceeding the target and was increased in scale to VND 185,000 billion. The social housing loan program under Resolution 33/NQ-CP and loans for young people under 35 years old to buy houses disbursed about VND 4,700 billion, an increase of 66.2% compared to the end of 2024. 4 State-owned commercial banks alone disbursed nearly VND 19,335 billion for people under 35 years old to buy houses.

The State Bank and commercial banks also closely coordinated with the Ministry of Construction, the Ministry of Industry and Trade and the Ministry of Science and Technology to implement a VND500,000 billion credit program for lending to invest in infrastructure and digital technology. This is a program of great significance in promoting long-term development and enhancing the competitiveness of the economy.

Mr. Le Hoang Chinh Quang - Director of the Department of Information Technology (SBV) - Photo: VGP/HT

Mr. Le Hoang Chinh Quang - Director of the Department of Information Technology (SBV) said that in implementing Project 06 of the Government, the banking industry has achieved many important results.

As of September 2025, the State Bank has proactively proposed to cut and simplify 124/298 administrative procedures, accounting for 41.6%. Of these, 20 procedures were completely cut and 104 procedures were simplified. The time to process administrative procedures was shortened by 529 days (down 8.8%) and 468 days (down 16.18%). The total cost savings reached more than VND 7.6 billion.

In data work, the National Credit Information Center has coordinated with the Ministry of Public Security to cross-check 57 million customer records, cleaning up nearly 44.5 million records. The Anti-Money Laundering Department has also completed cleaning up 154 ​​million accounts and 36 million customer records in the database related to anti-money laundering.

At the credit institution level, by September 22, 2025, 57 banks and 39 payment intermediary service providers had integrated biometric matching features with chip-embedded citizen identification data on the Mobile Banking application. At the same time, 63 banks had deployed at transaction counters, 32 banks and 15 payment intermediary organizations had integrated the VNeID application, of which 19 units had officially deployed.

Online, more than 128.9 million individual customer records and 1.3 million corporate customer records have been biometrically verified. Offline, 29 banks and 11 intermediary organizations have signed with the Ministry of Public Security to implement the cleaning of customer data opening accounts.

"Thanks to the application of biometric comparison and data cleaning solutions, the number of individual customers who were scammed and lost money decreased by 59% compared to the same period in 2024, while the number of accounts receiving fraudulent money decreased by 52%," said Mr. Le Hoang Chinh Quang.

The results achieved show that the banking industry has synchronously deployed solutions on credit management, interest rates, procedural reform and digital transformation. This effort contributes to supporting businesses, ensuring social security, while maintaining macroeconomic stability, creating a foundation for sustainable growth in the coming time.

Mr. Minh

Source: https://baochinhphu.vn/co-cau-tin-dung-phu-hop-voi-dinh-huong-chuyen-dich-co-cau-kinh-te-10225100313584435.htm