Bank credit surges by over 18% to $756 billion in H1 2026

Bank credit surges by over 18% to $756 billion in H1 2026

Solutions have been carried out to channel credit towards production and business sectors, priority sectors and growth drivers as directed by the Government and the Prime Minister, helping increase access to bank credit and support and promote economic growth.

A view of the press conference. VNS Photo

Total outstanding loans across the banking system as of June 26 this year reached nearly VNĐ20 quadrillion (US$757 billion), up 7.4 per cent compared to the end of 2025 and 18.1 per cent year-on-year, Deputy Governor of the State Bank of Vietnam (SBV) Phạm Thanh Hà said at a press conference on Thursday.

At the event to reveal the banking sector's performance in the first half of 2026 and outline steps for the second half of the year, Hà said that the results were due to measures taken by the SBV and commercial banks.

According to Hà, the SBV publicly announced principles for credit allocation this year, enabling credit institutions to carry out their lending plans.

The SBV also asked credit institutions to control the rate of credit disbursement to high-risk sectors, including the real estate sector, aiming to channel credit flows towards production and business sectors, priority sectors and economic growth drivers, while ensuring the stability of money market liquidity and the safety of the credit institution system.

“Credit solutions for specific sectors and fields have been implemented to channel credit towards production and business sectors, priority sectors and growth drivers, as directed by the Government and the Prime Minister, which have helped increase access to bank credit and support and promote economic growth,” Hà said. 

Nguyễn Xuân Bắc, deputy director of the SBV’s Department of Credit for Economic Sectors, told the press that credit institutions have carried out lending programmes as directed by the Government and the Prime Minister.

"Following the direction of the Government and the Prime Minister, the SBV directed commercial banks to implement a loan programme for the forestry and fisheries sector. By the end of May, the cumulative disbursement of the programme reached approximately VNĐ219 trillion with over 79,900 customers," Bắc said.

"For the loan programme that links production, processing and consumption of high-quality and low-emissions rice products in the Mekong Delta, after 12 months of implementation, the programme disbursed approximately VNĐ4.2 trillion by the end of May."

Bắc said that nine commercial banks have thus far also participated in the social housing lending programme for VNĐ145 trillion, with interest rates of 6.5 per cent per year for borrowers and 7 per cent for real estate developers.

The banking industry has also implemented a credit programme for electricity, transportation and strategic technology infrastructure sectors as directed by the Government and the Prime Minister. By May 31, the programme's outstanding loans at commercial banks reached nearly VNĐ10.53 trillion, he said.

Regarding interest rate management, Hà said that in the first six months of 2026, the SBV continued to maintain benchmark interest rates, creating favourable conditions for credit institutions to access capital from the SBV at low costs, enabling them to support the economy.

At the same time, the SBV issued a directive to credit institutions to stabilise interest rates and continue publishing lending interest rate information on the commercial banks' websites, to provide customers with reference information when accessing loans.

According to Hà, although the exchange rate and foreign exchange market have been under pressure from recent unpredictable global developments and domestic challenges, the SBV managed the exchange rate flexibly, helping to absorb external shocks.

"Effective coordination between monetary policy tools helped stabilise the foreign exchange market, contributing to macroeconomic stability and inflation control. As a result, the foreign exchange market is operating smoothly, the legitimate foreign currency needs of the economy are being fully and promptly met, and the USD-VNĐ exchange rate is fluctuating flexibly, in accordance with market conditions," Hà said.

In the second half of the year, Hà said that the SBV will continue to flexibly manage monetary policy, closely coordinating with fiscal policy and other macroeconomic measures to control inflation, contribute to macroeconomic stability and support sustainable economic growth.

The SBV will manage open market operations and provide prompt liquidity support to credit institutions. Interest rates will be managed in line with market developments, macroeconomic conditions, inflation and monetary policy objectives. The central bank will also continue to closely monitor developments in deposit and lending interest rates for the market and for each credit institution.

"The SBV will continue to closely monitor international and domestic market developments. It will manage exchange rates flexibly, in accordance with market conditions, and coordinate with other monetary policy tools to stabilise the foreign exchange market, contributing to macroeconomic stability, controlling inflation and supporting economic growth," he said. 

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