The State Bank of Vietnam held a conference on strengthening bank credit to support economic growth in Region 8, covering Ha Tinh, Nghe An and Quang Binh, and used the closing remarks to consolidate the banking-sector measures it is implementing to improve credit access while maintaining monetary stability and controlling risks. The event also included the announcement of the establishment and launch of the State Bank of Vietnam’s Regional Branch 8. Regional Branch 8 reported that, as of end-February 2025, credit outstanding at credit institutions in the area reached VND 535.688 trillion, up VND 7.957 trillion or 1.5% versus end-2024, accounting for about 33% of total outstanding credit in the North Central and Central Coast region. Measures highlighted included continued refinement of credit policy mechanisms, use of monetary policy tools to stabilise money markets and inflation, more flexible credit growth management to give credit institutions greater operational autonomy, expansion of preferential credit programmes and the redirection of lending towards priority sectors and growth drivers, and further reductions in the lending-rate level. The Deputy Governor also called on credit institutions to balance funding to meet credit demand, tighten controls on lending to higher-risk sectors, simplify loan processes and documentation while not loosening credit-granting conditions, and strengthen appraisal and cash-flow based approaches to support more unsecured lending without increasing bad-debt risks. For the newly launched State Bank of Vietnam Regional Branch 8, the Deputy Governor asked the unit to rapidly align processes and information technology systems to the new organisational model and coordinate closely with local authorities while monitoring credit institutions’ activities. Earlier personnel decisions appointed Nguyen Thi Thu Thu as Acting Director of Regional Branch 8, with Luong Hai Luu, Nguyen Van Trung and Hoang Thi Minh Thu as Deputy Directors; the post-reorganisation structure comprises seven departments with a total headcount of 134.
State Bank of Vietnam 2025-04-04
State Bank of Vietnam inaugurates Regional Branch 8 and sets out actions to boost bank credit for growth
The State Bank of Vietnam held a conference to boost bank credit for economic growth in Region 8, announcing the launch of its Regional Branch 8. Credit outstanding reached VND 535.688 trillion by end-February 2025, with measures to refine credit policies, stabilize money markets, and expand preferential credit programs. The Deputy Governor emphasized balancing funding, tightening controls on high-risk lending, and simplifying loan processes without loosening credit conditions.