Credit growth of 18-20% for 2025 appears achievable as banks’ outstanding loans continued to expand over the first nine months.

As many as 17 banks in Vietnam have announced programmes to support their customers who were affected by Typhoon Yagi.

As of June 30, credit expanded 6% compared to the end of 2023 while total outstanding loans approximated VND14.4 quadrillion (US$563.3 billion), a positive signal showing this year's credit growth target of 14 - 15% is within reach, experts said. ​

Credit within the banking system to the end of May 2024 increased by only 2.41% against the end of 2023, far from the credit growth target, the Government reported.

The bad debt ratio of the banking system skyrocketed from 2% at the beginning of this year to 3.56%, or more than VND440 trillion, at the end of July 2023, according to the latest data from the State Bank of Vietnam (SBV).

Outstanding loans in Vietnam exceeded VND8.79 quadrillion (US$378.74 billion) as of November 17, an increase of 7.26% from the end of 2019, according to the State Bank of Vietnam (SBV).