At a workshop organised by its Region 2 branch, the State Bank of Vietnam said the banking sector will be central to funding Ho Chi Minh City's double digit growth ambition for 2026-2030, and Governor Pham Duc An urged commercial banks to expand credit selectively rather than broadly. He called for funding to be directed to efficient projects, green growth, the digital economy, other priority sectors and well performing businesses, while keeping lending to riskier areas under control and preserving system safety. The Governor also asked banks to accelerate digital transformation, cashless payments, digital banking and technology-based products, alongside stronger information security, data protection and online fraud prevention. For the State Bank of Vietnam's Region 2 branch, he called for close monitoring of funding mobilisation, credit growth and interest rates, and for continued bank-business connection programmes and local credit promotion to address borrowing difficulties. Under Ho Chi Minh City's 2026 plan, the banking sector has been assigned credit growth of about 15 percent, equivalent to roughly VND 781 trillion in additional funding. Credit outstanding in the city was above VND 5.34 quadrillion at the end of the first quarter of 2026, up 2.56 percent from end-2025.
State Bank of Vietnam2026-06-05
State Bank of Vietnam urges selective lending and faster digitalisation as Ho Chi Minh City targets about 15 percent credit growth
The State Bank of Vietnam said the banking sector will be central to funding Ho Chi Minh City’s double-digit growth target for 2026-2030 and urged banks to expand credit selectively, prioritising efficient projects, green growth and the digital economy while containing riskier lending. Governor Pham Duc An also called for faster digital transformation, stronger information security and closer monitoring of funding mobilisation, credit growth and interest rates. Under the city’s 2026 plan, the sector has been assigned credit growth of about 15 percent, or roughly VND 781 trillion in additional funding, with credit outstanding already above VND 5.34 quadrillion at end-Q1 2026.