Outstanding credit of the economy reached over 18.40 million billion VND, up 17.87%
The State Bank said that outstanding credit focuses on growth drivers and priority sectors.
On the afternoon of December 29, 2025, the State Bank of Vietnam (SBV) held a press conference for the fourth quarter to inform about the results of monetary policy management (MP) and banking activities in 2025 and deploy tasks for 2026.
At the press conference, Deputy Governor of the State Bank Pham Thanh Ha said that as of December 24, 2024, the outstanding credit balance of the economy reached over VND 18.40 trillion, an increase of 17.87% compared to the end of 2024.
The credit structure is suitable for the economy, meeting the credit needs of people and businesses, according to data by the end of October compared to 2024, the agriculture, forestry and fishery sector accounted for 6.15% of the total outstanding loans of the economy.
The processing and manufacturing industry accounts for 12.39%;
The construction industry accounts for 7.47% (including infrastructure investment projects that are being directed by the Government and the Prime Minister to promote investment);
The retail and wholesale industry has the largest outstanding debt scale in the whole system, accounting for 22.24%.
Speaking about the difficulties in 2025, Deputy Governor Pham Thanh Ha said that the world economy continues to face many risks and uncertainties.
Global economic growth slows, affected by many factors: From rapidly changing tariff policies, to increased geopolitical tensions; unpredictable monetary policy roadmap of major central banks. Although inflation has cooled down, there is still a risk of re-increasing. The potential risks in the global financial - monetary market and commodity market are huge... These factors have a significant impact on an economy with a large openness like Vietnam.
In the country, 2025 is of special significance, a year of acceleration, breakthrough, and reaching the finish line to achieve the highest results of the Resolution of the 13th National Party Congress and the 5-year socio-economic development plan 2021-2025.
At the same time, it is also a year of active preparation and consolidation of the foundation for the 2026-2030 period, creating a premise to bring the country into a new era.
2025 is also the year the Government has chosen the theme of management: "discipline, responsibility; proactiveness, timeliness; streamlining, efficiency; accelerating, breaking through" with the target of economic growth of 8% or more, creating the premise for double-digit growth in the coming years.
In CSTT management, the SBV proactively, flexibly and synchronously operates CSTT tools, closely coordinating with fiscal policy and other macroeconomic policies to control inflation, stabilize the macro economy, support recovery, promote economic growth, and ensure the safety of the credit institution system.
Regarding interest rate management, the SBV continues to keep the operating interest rates unchanged, creating conditions for TCTDs to access capital from the SBV at low costs, thereby creating conditions to support the economy.
At the same time, the SBV regularly directs credit institutions to continue to reduce operating costs, increase the application of information technology, digital transformation and other solutions to strive to reduce lending interest rates; be ready to share a portion of profits to support people and businesses to access bank credit capital to contribute to promoting economic development. As a result, lending interest rates continue to decrease, businesses and people are accessing loans with lower interest rates than before.
Regarding exchange rate management, from the beginning of 2025, the foreign exchange market and VND exchange rate will be mainly affected by complex and unpredictable developments in the international market such as the unpredictable monetary policy (CSTT) roadmap of the US Federal Reserve (Fed), trade policies, tariffs of the US Government and fluctuations of the international USD. In some stages, the domestic foreign exchange supply and demand balance is temporarily pressured by short-term factors.
In that context, the SBV operates exchange rates flexibly, in line with market conditions, contributing to absorbing external shocks; synchronously coordinating tools for interest rate collection, VND liquidity and foreign currency intervention; at the same time, to meet liquidity needs, especially at the end of the year, in addition to the money supply channel through open market business channels, the SBV has implemented foreign currency exchange transactions with credit institutions, thereby contributing to supporting exchange rate stability, stabilizing the macro economy and controlling inflation.
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