Vietnam’s total credit outstanding was estimated at VND17.2 quadrillion ($658.3 billion) in the first six months of 2025, marking a 9.9% increase from the end of 2024 and a year-on-year  growth of 19.4%, the highest growth rate since 2023, according to the State Bank of Vietnam (SBV).

This robust expansion signals a strong recovery in lending activities, particularly for production and business sectors, and industries that the Government prioritizes, Deputy Governor of the SBV Pham Thanh Ha said at a press briefing on the banking sector’s six-month performance on July 8.

The banking sector is also implementing several large-scale lending programs to support economic priorities, including a VND145 trillion ($5.51 billion) credit package for social and worker housing; a VND500 trillion ($19 billion) program to fund infrastructure and digital transformation works in key national projects; and VND100 trillion ($3.8 billion) fund to support the agriculture, forestry, and fishery sectors.

The SBV set a credit growth target of 16% for the whole year.