The State Bank of Vietnam convened a conference in Son La on boosting bank credit to support economic growth in “Region 3” and, later the same day, announced the launch of the SBV Region 3 branch. Deputy Governor Pham Thanh Ha urged credit institutions to implement credit growth measures from the start of 2025 that meet funding needs while maintaining credit quality, containing non-performing loans and reducing lending rates through cost-cutting and process simplification. Region 3 covers Hoa Binh, Son La, Dien Bien and Lai Chau. Outstanding loans by credit institutions in the area stood at VND 136,776bn as of 31 December 2024 (up 7.63% year on year) with a non-performing loan ratio of 0.84%, and declined to VND 134,571bn as of 28 February 2025 (down 1.61% from end-2024). The bank–enterprise connection programme was reported to have delivered VND 20,500bn of lending to 1,165 businesses and 1,699 other customers, alongside loan restructuring for 17 customers and lending-rate and fee reductions. The central bank’s guidance included prioritising lending for feasible flagship projects and key agricultural products, strengthening loan classification and debt recovery practices, applying digital transformation in credit processes, keeping deposit rates stable and reasonable, and publishing information on lending-rate packages and credit programmes on institutions’ websites. The SBV noted it has completed the establishment of 15 regional SBV branches effective 1 March 2025 following the reorganisation of 63 provincial and city branches. For Region 3, the Governor’s personnel decisions effective 1 March 2025 appointed Trinh Cong Van as Acting Director, with Pham Manh Kien, Le Cao Cuong and Nguyen Dinh Vinh as Deputy Directors; the branch has 140 staff and six departments spanning inspection, supervision, policy and operations functions. The SBV said further work related to the reorganisation will continue to ensure progress and improve the effectiveness of state management.
State Bank of Vietnam 2025-03-27
State Bank of Vietnam inaugurates SBV Region 3 branch and calls for targeted credit growth across four north-west provinces
The State Bank of Vietnam held a conference in Son La to boost bank credit for economic growth in Region 3 and announced the launch of the SBV Region 3 branch. Deputy Governor Pham Thanh Ha emphasized credit growth measures for 2025, focusing on maintaining credit quality, reducing non-performing loans, and lowering lending rates. The SBV completed the establishment of 15 regional branches, including Region 3, with Trinh Cong Van appointed as Acting Director.