Ho Chi Minh City’s total outstanding credit reached VND3.943 quadrillion (over $155 billion) by the end of 2024, an 11.34% increase compared to the end of 2023, according to data from the State Bank of Vietnam, Ho Chi Minh City Branch.

Mr. Nguyen Duc Lenh, Deputy Director of the Branch, highlighted five key aspects of the city’s credit activities in 2024.

The southern city's credit maintained a relatively strong growth rate in 2024, lower than that in 2022, but exceeding the rates recorded in 2023 and 2020.

Credit activities were closely linked to supporting businesses, driving the city’s economic growth through effective preferential credit programs and bank-business connection initiatives.

Credit activities also successfully supported monetary policy, paying the way for economic growth and enabling the development of key industries.

Foreign currency credit and low-interest VND credit, coupled with quality foreign exchange services and efficient payment systems, contributed positively to the city's import and export activities.

Credit activities reflected effective capital exploitation, controlled bad debts, and aligned with the debt structure between short, medium, and long-term, consistent with capital mobilization activities.