The State Bank of Vietnam (SBV) has raised credit growth quotas for commercial banks to help stimulate economic growth while keeping inflation under control, in accordance with government directives, the central bank announced on July 31.

As of July 28, total outstanding loans increased 9.64% compared to the end of last year, the SBV said.

The credit quota adjustments were made based on specific principles to ensure transparency, the SBV noted, adding that no proposals from commercial banks were required. However, the central bank did not disclose the exact scale of the new quota allocations.

Earlier this year, the SBV set the annual credit growth target at 16% for 2025.

The SBV stressed that credit expansion must be carried out prudently and efficiently, with a focus on priority sectors aligned with the Government’s economic growth strategy, while maintaining close oversight of lending to high-risk areas.