Credit growth in HCM City hits $155b in first four months

Credit growth in HCM City hits $155b in first four months

The majority of the credit has been directed toward sectors that stimulate economic growth, particularly businesses and production.

Cash at a private lender in HCM City. The city has surpassed $155 billion in outstanding loans in the first four months of 2025. — VNS Photo Bồ Xuân Hiệp

Credit institutions in HCM City have reported total outstanding loans of over VNĐ4 quadrillion (US$155 billion) in the first four months of the year, up 2.62 per cent compared to the end of 2023 and up 12.78 per cent year-on-year.

Of that figure, loans allocated for real estate comprised 64.6 per cent of total outstanding loans, according to the State Bank of Vietnam (SBV).

The remaining loans were distributed among essential service sectors such as trade, tourism, communications, technology, health, education, which account for 60 per cent of the city’s Gross Regional Domestic Product (GRDP), totalling over VNĐ1.4 quadrillion ($53.6 billion).

Nguyễn Đức Lệnh, deputy director of the State Bank of Vietnam’s HCM City branch, attributed the growth to the robust performance in trade, services, and tourism, as well as an uptick in export orders. 

“The favourable socio-economic environment and supportive policies from the State Bank of Vietnam have been instrumental in fostering this upward trend,” he noted.

Lệnh said the majority of the credit had been directed toward sectors that stimulate economic growth, particularly businesses and production.

He said the banking sector would continue to prioritise effective collaborations among banks and businesses, facilitating access to credit packages for small and medium-sized enterprises (SMEs), export businesses, and consumer needs. 

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