The State Bank of Vietnam published an account of Prime Minister Pham Minh Chinh’s New Year meeting at the central bank, setting out operational priorities for the banking sector in 2025. The agenda centres on maintaining macroeconomic stability and monetary-market stability, controlling inflation, reducing lending rates by cutting costs, and directing credit to priority programmes while continuing to address weak banks and non-performing loans. Supporting details included a recap of 2024 operations, with the State Bank keeping policy rates unchanged amid high global rates, managing the exchange rate flexibly, and coordinating monetary policy tools. As of 31/12/2024, credit to the economy was up about 15.08% versus end-2023, with lending focused on production, business activity and priority sectors, including a VND 145 trillion programme for social housing, worker housing and renovation or rebuilding of old apartment blocks, and a credit programme for forestry and fisheries. Work in 2025 will include interest rate and exchange rate management aligned with market and inflation developments, credit steering to meet funding needs, decisive implementation of the credit-institution restructuring plan, stronger digital transformation linked to Project 06 and a sector-wide database, and tighter security and confidentiality for payments and banking operations.
State Bank of Vietnam 2025-02-03
State Bank of Vietnam sets 2025 banking-sector priorities to support 8% growth while controlling inflation and restructuring weak banks
The State Bank of Vietnam's 2025 priorities focus on macroeconomic and monetary-market stability, inflation control, and reduced lending rates. Key initiatives include directing credit to priority programmes, addressing weak banks and non-performing loans, and enhancing digital transformation. The bank will manage interest and exchange rates in line with market and inflation trends, while implementing a credit-institution restructuring plan.