OUTSTANDING LOANS AT HCMC BANKS TOP VND4.1 QUADRILLION

Stacks of Vietnamese banknotes at a local bank - PHOTO: LE VU

HCMC – Total outstanding loans in HCMC’s banking system amounted to VND4.1 trillion as of the end of May, up 3.89% compared to the end of 2024 and 13.64% year-on-year.

Nguyen Duc Lenh, deputy director of the State Bank of Vietnam’s Region 2 Branch, credit growth in HCMC during the first five months of 2025 was positive, outpacing the same period in the past two years.

The results reflect a clear economic recovery and the efforts of credit institutions to inject capital into the market. A favorable business environment, flexible monetary policy, and low interest rates have supported production and consumption activities, he said.

Outstanding credit in the wholesale, retail, and motor vehicle repair industries rebounded in the past two months, reaching over VND580 trillion, up 0.34% from the end of last year and 15.1% year-on-year.

Loans in the manufacturing and processing sector climbed to VND557 trillion, a 2.37% increase compared to the end of 2024 and a 9.35% year-on-year rise.

Lenh noted that the shift in credit toward core production and consumption sectors signals positive expectations from businesses and consumers regarding the economic outlook.

In the coming months, credit growth is expected to gain further momentum, driven by new engines such as the digital economy and green economy, along with factors like the development of an international financial center and expanded growth space following the consolidation of administrative units.

Additionally, summer tourism activities and the disbursement of public investment capital will continue to support credit growth in line with targeted orientations.

Source: The Saigon Times