On December 30, the State Bank sent a document to credit institutions, announcing the principle of credit growth in 2025.
The credit growth limit of each unit will be based on the 2023 rating results as prescribed in Circular 52, multiplied by the coefficient commonly applied to banks.
The State Bank expects system-wide credit growth in 2025 to be about 16%, higher than the target of 15% this year. The operator will proactively adjust targets, creating conditions for credit institutions to provide sufficient and timely capital to the economy without the need for a written request.
At the same time, this management agency said it would continue to implement the roadmap to limit and eventually eliminate the allocation of credit growth targets for each bank according to Resolution 62.
The operator requires banks to grow credit safely, effectively and in accordance with regulations on the basis of risk management capacity, liquidity situation and capital mobilization ability. Growth ensures operational safety, credit goes to production and business sectors, priority sectors and growth drivers according to the Government’s policies. Credit sources need to be strictly controlled in potentially risky areas.
In addition, banks are also required to continue to reduce costs, increase the application of information technology, digital transformation… to have room to continue striving to reduce lending interest rates.
As of December 7, credit grew 12.5% compared to the beginning of the year, more positive than 9% in the same period last year. Accordingly, the total outstanding debt of the economy is about 15.3 million billion VND. Capital mobilization reached 14.8 million billion VND with a lower growth rate than outstanding debt.