Total outstanding loans across Vietnam’s credit institution system reached approximately 20.75 trillion VND as of September 30, marking an 11.59% increase from the end of the previous year and a 16.69% jump compared to the same period of the previous year, according to a report. State Bank of Vietnam Deputy Governor Pham Thanh Ha stated at the regular government press conference on October 3 that this performance matches the central bank’s target for the entire year.
The central bank implemented monetary and macroeconomic policy measures over the first nine months to control inflation while supporting economic recovery, according to Pham Thanh Ha. The monetary authority deployed targeted credit policies to ensure capital reaches priority sectors and key projects while maintaining overall financial system safety.
Policy Measures Expanding Credit Space
The State Bank of Vietnam directed credit institutions to issue proactive lending guidelines for priority sectors, including social housing, industrial parks, export processing zones, restaurants, hotels, ecotourism areas, and resorts. Outstanding loans directed toward these specific sectors are excluded from the central bank’s routine credit growth ceilings.
Commercial banks received instructions to exclude large-scale, multi-regional infrastructure projects and initiatives targeting double-digit growth from their total calculated outstanding loan volumes. In early August, the central bank encouraged financial institutions to join a dedicated credit program designed to stimulate economic growth and assist small and medium-sized enterprises.
Commercial Bank Participation in Preferential Programs
Nineteen commercial banks committed to a joint lending program totaling roughly 409 trillion VND, following initial registrations by the country’s four major state-owned commercial banks. Ten of these participating banks extended approximately 18.6 trillion VND in loans to 12,900 eligible corporate and individual customers.
Interest rates under this specific economic support initiative run between 1% and 3.6% lower than standard commercial lending rates. A separate financing scheme supporting the production, processing, and consumption of high-quality, low-emission rice products in the Mekong Delta disbursed around 5 trillion VND, maintaining interest rates at least 1% below comparable commercial loans.
Fourth-Quarter Regulatory Adjustments and Sector Focus
The central bank plans to review, adjust, and improve legal frameworks and policy mechanisms throughout the fourth quarter to facilitate easier capital access for commercial banks and targeted sectors, Pham Thanh Ha stated. The final quarter of the year remains critical for meeting national economic objectives.
Credit institutions must direct funding toward growth-driving priority sectors while enforcing strict controls on lending to high-risk industries. Banks are instructed to simplify operational procedures, streamline internal processes, and increase digital technology integration to reduce borrowing hurdles for customers.
Frequently Asked Questions
Which specific sectors are exempt from normal credit growth restrictions?
Loans directed toward social housing, industrial parks, export processing zones, and tourism-related developments such as hotels, restaurants, and resorts do not count toward the controlled credit volume.
How much capital was mobilized by commercial banks for the SME and growth support program?
Nineteen commercial banks committed a total lending volume of roughly 409 trillion VND to the program, with ten banks having disbursed about 18.6 trillion VND to 12,900 customers.
What interest rate reduction applies to the Mekong Delta low-emission rice initiative?
Participating commercial banks offer interest rates that sit at least 1% below the rates charged on comparable standard commercial loans.
What is the total outstanding credit volume recorded by the end of September?
Total outstanding loans across the entire credit institution system reached approximately 20.75 trillion VND as of September 30.