Business News

HCMC aims to enter the top 50 of the Global Financial Centers Index by 2045 under a draft strategy to develop an international financial center in the city. The draft strategy for the Vietnam International Financial Center in HCMC (VIFC-HCMC) sets targets of reaching the top 75 by 2035 and the top 50 by 2045, according to Nguyen Huu Huan, vice chairman of the VIFC-HCMC executive authority.

According to the State Bank of Vietnam’s (SBV) Region 2 Branch, total incoming remittances to the city amounted to more than US$10.34 billion last year, up 8.3% from 2024. Most remittances were channeled through economic organizations, totaling nearly US$7.43 billion, or 71.8% of the total. Transfers via credit institutions accounted for the remainder, at about US$2.92 billion.

Vietnam’s corporate bond market continued its recovery in 2025, with the total value estimated at US$21.8 billion, driven largely by banks, according to industry data. Figures compiled by the Vietnam Bond Market Association (VBMA) from the Hanoi Stock Exchange (HNX) and the State Securities Commission show that as of December 26, 2025, there were 55 corporate bond issues done in December alone, worth a combined VND48.5 trillion.

Credit growth in December alone is estimated at about 0.95% compared with November, bringing the year-to-date increase to 12.43% by the end of November. Total deposits in the city are estimated at around VND5.17 quadrillion, up 11.94% year-on-year. By the end of November, deposits had risen 10.83% compared with the end of 2024, a level regulators described as relatively solid.

Profits in Việt Nam’s banking sector showed a brighter picture in the third quarter of 2025 than in the first half of the year, supported by continued positive credit growth and a stable net interest margin (NIM). Experts at MB Securities Company (MBS) said credit growth momentum remained steady in the third quarter, with an estimated increase of 14.8 per cent since the beginning of the year and 4.6 per cent compared to the previous quarter.

The first half of 2025 has revealed an impressive earnings landscape among listed enterprises, marked by the continued dominance of banks and the remarkable rise of select real estate players. According to data compiled by CafeF.vn, banks continued to assert overwhelming strength in the top 10 pre-tax earners of the period, claiming seven positions alongside three companies under the Vingroup ecosystem. 

The banking sector has been shifting its focus toward start-ups, reflecting a broader regulatory and institutional alignment with private sector innovation. According to the State Bank of Vietnam, by the end of June 2025, total system-wide credit had grown by approximately 9.9 per cent, with capital flows concentrating on priority sectors such as production, business, and notably, start-ups.

The common highlight in banks’ reports in the first half of 2025 showed a more stable and sustainable growth cycle in the banking industry. Credit expansion, improved profitability, and tighter control of asset quality are collectively laying a solid foundation for a strong performance in the second half of the year. According to the State Bank of Vietnam (SBV), as of June 30, 2025, total outstanding credit of the banking system exceeded VND17.2 quadrillion, up 9.9% compared to the end of 2024 and 19.32% year on year.