Central bank sets 2025 credit growth target at 16%

The State Bank of Vietnam (SBV) has set a system-wide credit growth target of 16% for 2025.

In a document sent to credit institutions on December 30, the central bank also said that it is studying a plan to gradually abolish the credit growth quota policy following the National Assembly and the Government’s directions. Instead, the SBV will only manage credit growth cap for the whole banking system as part of solutions to curb inflation.

In 2025, the central bank will closely monitor domestic and international market developments to have proactive, flexible and efficient credit management, and stand ready to support credit institutions in providing credit to serve the economy and ensure the safety for the banking system.

The SBV will actively adjust credit growth quota for banks to create conditions for them to supply enough credit for the economy.

As of December 13, credit growth reached 12.5% over the end of 2023 and 16.51% year-on-year.