At the regular first-quarter 2026 board meeting of the Vietnam Bank for Social Policies (VBSP), chaired by State Bank of Vietnam Governor Pham Duc An, the State Bank of Vietnam said VBSP had expanded social policy lending quickly and is expected to largely complete its Prime Minister-approved 2026 credit growth plan of up to 10% by 30 June. As of 30 April, total policy credit outstanding stood at VND 445.957tn, up 7.8% from end-2025, and total funding reached VND 468.134tn, up 9.8%. The governor asked VBSP to submit a request to the Prime Minister to raise the 2026 growth limit by a further 2 percentage points, to a maximum of 12%. In the first four months of 2026, lending under policy credit programmes totalled VND 68.025tn, reaching more than 951,000 poor households and other eligible beneficiaries. Entrusted funds from local budgets rose to VND 79.352tn, equivalent to 17% of total funding and in line with the target in VBSP's development strategy to 2030. Credit quality remained stable, with overdue and frozen debt of VND 2.239tn, or 0.5% of outstanding loans. The programmes supported job creation for more than 372,800 workers, education loans for 11,484 disadvantaged students, more than 762,000 rural clean water and sanitation works, and 3,908 social housing units. The governor also told the system to mobilise more funding, including additional local-budget entrusted funds, 2% deposits from state-owned commercial banks and market deposits, and to coordinate with ministries on adjusting the guarantee limit for VBSP bond issuance. Other priorities include stronger internal and remote supervision, organisational and rulebook updates, and digitalisation and data-building to shorten processes while maintaining risk controls.
State Bank of Vietnam 2026-05-14
State Bank of Vietnam reviews Vietnam Bank for Social Policies performance and seeks approval to raise its 2026 credit growth cap to 12%
The State Bank of Vietnam said the Vietnam Bank for Social Policies is on track to complete its Prime Minister-approved 2026 credit growth plan of up to 10% by 30 June and has asked it to seek an increase in the limit to 12%. As of 30 April, policy credit outstanding reached VND 445.957tn, funding totalled VND 468.134tn, and credit quality remained stable with overdue and frozen debt at 0.5% of outstanding loans. The governor also directed the bank to mobilise more funding, strengthen supervision, update internal rules, and advance digitalisation and data initiatives.