In alignment with the National Assembly's Resolution and the directives of the Government and Prime Minister, the SBV is managing monetary policy proactively, flexibly, promptly, and effectively. This is coupled with synchronous, harmonious, and close coordination with fiscal policy and other macroeconomic policies , prioritizing the robust promotion of economic growth while maintaining macroeconomic stability, controlling inflation, and ensuring major economic balances.
The SBV had already assigned credit growth targets to CIs at the beginning of 2025. As of July 28, 2025, credit growth across the entire system increased by 9.64% compared to the end of 2024. According to the SBV, with inflation controlled in line with the targets set by the National Assembly and the Government, and in adherence to the Government's and Prime Minister's directives on appropriate, timely, and effective credit growth management to meet the economy's capital demands, the SBV announced on July 31, 2025, an upward adjustment to the 2025 credit growth targets for CIs. This adjustment follows specific principles, ensuring publicity and transparency.
Concurrently, the SBV requires CIs to strictly implement directives from the Government, Government leaders, and the SBV. They must decisively implement solutions regarding credit activities to enhance business efficiency, ensure system safety, and stabilize the monetary market. This includes promoting safe and effective credit growth, directing credit towards manufacturing, business, priority sectors, and economic growth drivers as per the Government's and Prime Minister's policies. CIs must also tightly control areas with potential risks, maintain stable deposit interest rates, and strive to reduce lending interest rates by cutting costs, increasing IT applications, simplifying administrative procedures, and restructuring their organizational apparatus. Furthermore, CIs are to continue implementing policies to alleviate difficulties in accessing credit for businesses and individuals, and provide credit to customers in strict accordance with legal regulations and the SBV's directives in Instruction No. 01/CT-NHNN dated January 20, 2025, on implementing key tasks of the banking sector in 2025.
In addition, CIs need to comply with legal regulations on prudential ratios, credit limits for customers, loan classification, and risk provisioning. They should also strengthen credit risk control, implement measures to handle bad debts, limit the incurrence of new bad debts, conduct thorough appraisals before granting credit, and enhance pre- and post-credit inspections and supervision to ensure credit quality.
Moving forward, the SBV will continue to closely monitor domestic and international market developments, remain ready to support liquidity to enable CIs to provide credit to the economy, and promptly implement appropriate monetary policy management solutions.
VNBA News/SBV
