Credit growth for the whole year is expected to increase by 20%.

As of the end of September, credit had grown by nearly 14% compared to the end of 2024, of which more than 70% focused on production and business, the remaining outstanding loans focused on consumption.

According to the State Bank, as of the end of September, credit had grown by nearly 14% - Photo: SBV

Credit growth of nearly 14%

Speaking to the press at a press conference on banking activities in the third quarter, held on the morning of October 3, Ms. Ha Thu Giang - Director of the Department of Credit for Economic Sectors, State Bank - said that as of September 29, credit in the whole economy increased by 13.37% compared to the end of 2024, much higher than the same period.

The credit structure of the sectors is consistent with the economic structure. Accordingly, the credit proportion for the three economic sectors, namely agriculture, forestry and fishery, accounts for 6.23%, industry - construction accounts for 23.97%, and trade - services accounts for 69.8%.

Credit capital continues to be directed towards production and business sectors and priority sectors, in which about 78% of outstanding loans in the economy serve the production and business sectors.

"For real estate loans, outstanding loans increased by 19%. We find this result quite consistent with recent developments when the National Assembly , the Government, the Prime Minister as well as ministries and localities have many solutions to remove difficulties for the real estate market.

"When projects are restarted or project implementation is accelerated, capital demand will also increase," Ms. Giang commented.

Regarding the social housing loan program for young people under 35 years old, Ms. Giang said that about 4,700 billion VND has been disbursed.

Compared to the entire scale of 120,000 billion VND of this program, this is also a modest result, although the disbursement speed has changed more positively than at the end of 2024.

One of the solutions to speed up disbursement is to soon have many projects that meet the needs of home buyers.

Credit growth for the whole year is very high, but quality must be ensured.

Sharing more about credit management, Mr. Pham Chi Quang - Director of Monetary Policy Department, State Bank - said that from the beginning of the year, credit growth targets were assigned to credit institutions.

The State Bank has just extended credit limits to credit institutions with high credit ratings, good ratings and sound and safe management. The goal is to ensure that credit institutions have enough capital supply for the economy.

"It is expected that with the current credit growth rate and capital absorption situation of enterprises, from now until the end of the year, credit growth for the whole year can reach 19-20%" - Mr. Quang predicted, adding that this is a very high growth rate compared to other countries in the region and the world.

On the one hand, it supports economic growth of 8% or more as the target approved by the National Assembly. But on the other hand, it also contains risks in maintaining debt quality.

Therefore, the State Bank has issued documents and worked with credit institutions to warn about high credit growth but must ensure efficiency as well as credit quality.

In the coming time, the State Bank will continuously review and direct credit institutions to consider, calculate, and pay special attention to credit allocation and risk management to avoid bad debt arising in the future.

Regarding interest rate management, Mr. Pham Thanh Ha - Deputy Governor of the State Bank - said that from the beginning of 2025 until now, the State Bank has continued to maintain operating interest rates at a low level to guide the market to reduce lending interest rates to support businesses and people.

At the same time, the State Bank regularly directs credit institutions to continue to reduce operating costs, increase the application of information technology and other solutions to strive to lower lending interest rates...

As a result, the lending interest rate level continues to decrease, the average lending interest rate for new transactions of commercial banks is at 6.52%/year, down 0.41%/year compared to the end of 2024.

LE THANH

Source: https://tuoitre.vn/du-kien-tin-dung-ca-nam-tang-20-2025100312201814.htm