Credit growth across entire system projected to be around 15% in 2026

According to the State Bank of Viet Nam, closely following the National Assembly’s Resolution, the Government’s and Prime Minister’s directives, the State Bank of Viet Nam proactively, flexibly, promptly, and effectively manages monetary policy, coordinating synchronously, harmoniously, and closely with the focused expansionary fiscal policy and other macroeconomic policies to prioritise macroeconomic stability, control inflation, implement the restructuring of banks under mandatory transfer, and support economic growth.

In particular, the State Bank of Viet Nam has continued to implement credit management solutions appropriate to macroeconomic developments to contribute to controlling inflation, stabilising the macroeconomy, and supporting economic growth. In 2026, the State Bank of Viet Nam projects credit growth across the entire system at approximately 15%, with adjustments made to reflect actual developments and circumstances, ensuring inflation control, macroeconomic stability, support for economic growth, and the safety of the credit institution system.

On December 31, 2025, the State Bank of Viet Nam issued a document to credit institutions publicly and transparently announcing the principles for assigning credit growth targets for 2026, enabling them to proactively implement the plan.

Specifically, the credit growth target for credit institutions is based on the 2024 rating score as stipulated in Circular No. 52/2018/TT-NHNN (as amended and supplemented), multiplied by a coefficient applicable to all credit institutions.

In addition, the State Bank of Viet Nam has also required credit institutions to strictly control the credit growth rate for sectors with potential risks and the real estate sector in 2026 in order to direct credit capital into production and business sectors, priority sectors, and growth drivers of the economy, while ensuring the stability of monetary market liquidity and the safety of the credit institution system.

The State Bank of Viet Nam has required credit institutions to seriously, fully, and promptly implement the directives of the Government and Government leaders on the effective and timely implementation of credit solutions; safe and legally compliant credit growth will be based on risk management capacity, liquidity situation, and capital mobilisation ability, ensuring the maintenance of safety ratios, especially liquidity and solvency ratios; improving credit quality; using capital for the right purposes and effectively; limiting the increase and emergence of bad debts; ensuring operational safety; and enhancing credit assessment and appraisal capabilities.

In 2026, the State Bank of Viet Nam will continue to closely monitor actual developments to proactively and flexibly manage credit growth, thereby supporting the credit institution system in providing credit capital to serve the economy, as well as ensuring system safety, linked to macroeconomic stability and inflation control.