Vietnam’s central bank is tightening the reins on credit growth this year, but several dynamic private lenders are still setting ambitious lending targets, signalling a sharply differentiated outlook across the banking sector.

VOV.VN - Vietnam’s average consumer price index (CPI) in 2026 is projected to hover around 3.5%, slightly higher than in 2025 but still within the National Assembly’s target ceiling of 4.5%, say experts.

With an increasingly significant role in the economy, the small and medium-sized enterprise (SME) sector is becoming a key focus in banks’ credit growth strategies, prompting lenders to roll out a range of solutions to support businesses that often run on tight cash flow.

The State Bank of Vietnam (SBV) plans to steer credit growth across the banking system to around 15% in 2026, with room for adjustment in line with macroeconomic conditions, inflationary pressures and banking system safety, aiming to balance growth support with financial stability.

Ho Chi Minh City’s credit growth continued on a positive trajectory in 2025, with total outstanding loans estimated at over VND5 quadrillion (US$190 billion), up 0.95% from November 2025 and approximately 13.5% compared to the end of 2024.