Turkey’s July foreign trade deficit narrows but business chamber chief says conditions for industry “unbearable”
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The State Bank of Vietnam (SBV) has announced an increase in the 2025 credit growth quota for commercial banks in a bid to stimulate economic growth, as inflation remains under control, Viet Nam News reports.
According to a statement issued by the central bank on Thursday, the decision aligns with government directives to support economic expansion and was undertaken proactively—without requiring proposals from individual credit institutions. The precise scale of the adjustments, however, was not disclosed.
As of 28 July, total outstanding loans had grown by 9.64% compared to the end of 2024, according to the SBV.
The central bank originally set this year’s credit growth target at 16%. While this latest move signals a more accommodative stance, the SBV underscored that any expansion of credit must be approached with caution and aligned with national development priorities. Lending will continue to be directed towards key sectors of the economy, while tighter scrutiny will be applied to capital flows into high-risk areas.
In parallel with the credit quota adjustment, the SBV has reaffirmed its commitment to maintaining stable deposit rates and lowering lending rates. Measures to support this include operational cost reductions, increased digitalisation, streamlined administrative procedures, and internal restructuring.
The central bank also indicated that access to credit will be made easier for businesses and consumers, and that close attention will be paid to both domestic and international financial conditions the Viet Nam News report added. The aim, it said, is to ensure adequate liquidity and the smooth functioning of the credit system, while deploying monetary policy tools as needed to safeguard financial stability.
The SBV further called on commercial banks to strengthen credit risk controls and accelerate the resolution of non-performing loans. These actions are part of broader efforts to ensure the continued health and resilience of the Vietnamese banking sector amid ongoing economic challenges and global uncertainties.
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