The State Bank of Vietnam (SBV) has raised its credit growth target for 2025, according to recent announcements, in a move designed to bolster economic expansion amidst a controlled inflationary environment.
The SBV’s decision, reported by both Le Courrier and Vietnam Plus, signals a shift in monetary policy aimed at stimulating economic activity. The revised target aims for nearly a 10% increase in credit by the first half of 2025, marking a two-year high. This adjustment aligns with government directives focused on sustained economic growth.
The move comes as Vietnam continues negotiations to finalize a free trade agreement with the European Free Trade Association (EFTA). Discussions are being accelerated, with both Vietnam and EFTA member countries reaffirming their commitment to a swift resolution, as reported by Vietnam Plus on February 27, 2026.
Alongside the increased credit growth target, the SBV is also pursuing a reduction in interest rates to further encourage lending and investment. This dual approach reflects a proactive strategy to support businesses and individuals, while maintaining financial stability.
The SBV is also emphasizing careful project selection to mitigate credit risks, particularly for large-scale real estate projects. According to reports from Meilleurtaux.com, the central bank is directing commercial banks to rigorously assess loan applications, focusing on project viability and feasibility. Financing for agricultural projects remains a priority.
The focus on credit quality follows a period of restructuring within the Vietnamese banking sector, which has led to a gradual decrease in non-performing loans. The SBV is prioritizing the health of the financial system, demanding thorough evaluations of loan requests from both financial and non-financial markets.
Businesses seeking financing for working capital and export-oriented companies are expected to have a greater chance of securing credit lines under the new guidelines. The SBV’s actions indicate a preference for supporting sectors that contribute directly to economic growth and export revenue.
The SBV is also strengthening its oversight of peer-to-peer (P2P) lending services, with Vice-Premier Vuong Dinh Hue recently convening a meeting with relevant ministries and sectors to review a report on the matter, according to Nhan Dan.
