The State Bank of Vietnam published an update on a banking-sector delegation led by Standing Deputy Governor Dao Minh Tu to Yen Bai province ahead of Lunar New Year 2025, combining social welfare donations with messages on credit support for the local economy. The programme earmarked VND 9.6 billion for Yen Bai, including VND 8.6 billion from the Vietnam Banking Trade Union and VND 1 billion from the State Bank of Vietnam central trade union, to support the construction of a school valued at VND 5 billion, build 30 homes to replace temporary or dilapidated housing, and distribute 2,000 gift packages worth VND 900,000 each to poor households and families affected by Storm Yagi. Dao Minh Tu also noted that banks in Yen Bai are providing around VND 50 trillion in credit and asked the State Bank of Vietnam’s Yen Bai branch and local commercial banks, particularly state-owned lenders, to increase support, with credit growth in 2025 expected to exceed the 19% expansion recorded in 2024. He further indicated that the Vietnam Banking Trade Union is preparing to launch a sector-wide campaign for staff to donate one day’s salary to fund the elimination of temporary housing, with an allocation planned for mountainous provinces including Yen Bai.
State Bank of Vietnam 2025-01-13
State Bank of Vietnam delivers VND 9.6 billion Lunar New Year social welfare support to Yen Bai and urges higher local credit growth
The State Bank of Vietnam announced a delegation led by Standing Deputy Governor Dao Minh Tu to Yen Bai province, combining social welfare initiatives with credit support messages. The programme allocates VND 9.6 billion for local projects, including school construction, housing, and gift distribution. Dao Minh Tu highlighted that local banks are providing VND 50 trillion in credit, with 2025 credit growth expected to surpass 2024's 19% increase.