For the first time, Ho Chi Minh City's outstanding credit has surpassed VND4.1 quadrillion, marking a higher level than the same period in the past two years. This growth signals a strong recovery and reflects the proactive efforts of credit institutions to inject capital into the economy amid rapidly evolving conditions.
According to Deputy Director Nguyen Duc Lenh of the State Bank of Vietnam (Region 2), as of the end of May 2025, total outstanding credit in the city reached VND4.1 quadrillion —up 3.89 percent from the end of 2024 and 13.64 percent year-over-year. This credit growth significantly outpaces the same period in 2024 and 2023, when rates increased by just 1.9 percent each year.
According to Deputy Director Nguyen Duc Lenh, the monetary, credit and interest rate policy mechanism, along with the investment and business environment and economic growth, continue to be favorable factors promoting credit growth in the area in the first 5 months of the year.
Low interest rates continue to play a key role in stimulating production and consumption. In particular, outstanding loans in the wholesale and retail trade, as well as the repair of automobiles, motorbikes, and other vehicles, have shown positive growth over the past two months—rising to over VND580 trillion, an increase of 0.34 percent since the end of 2024 and 15.1 percent year-over-year.
Lending to the manufacturing and processing sector also reached VND557 trillion, up 2.37 percent from the end of last year and 9.35 percent compared to the same period in 2024.
Deputy Director Nguyen Duc Lenh noted that credit growth will continue to benefit from new policy drivers, including the digital and green economies, the development of an international financial center, and expanded socio-economic zones following administrative mergers.
Additionally, seasonal demand from tourism and services during the 2025 summer holiday, along with accelerated public investment disbursement, is expected to further support the State Bank’s credit growth targets.
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