Credit growth in HCM City has remained on a steady upward path in recent months as banks continue to direct lending towards production and business activities, especially small and medium-sized enterprises.

 

The trend underscores the sector’s efforts to implement Government credit priorities, supporting economic growth and maintaining financial stability in the country’s southern economic hub.

 

According to the State Bank of Vietnam, total outstanding loans in HCM City are estimated at VNĐ4.919 quadrillion (US$196.8 billion) as of October 31, up 0.66 per cent from September and 9.79 per cent for the year.

 

Loans in Vietnamese đồng accounted for 96 per cent.

 

The figures reflect stable exchange rates and a growing preference for borrowing in the local currency.

 

Short-term loans totalled VNĐ2.345 quadrillion ($93.8 billion), or nearly 48 per cent of total outstanding credit.

 

Medium- and long-term loans have risen by 11.44 per cent this year, indicating increasing investment in expanding production, technology and infrastructure.

 

The central bank said credit growth remained positive across all terms and sectors this year.

 

Banks continued to ensure sufficient funding for enterprises, contributing to business recovery and overall economic momentum.

 

Lending to the five Government-prioritised sectors continued to rise.

 

By the end of October loans would be worth VNĐ440 trillion ($17.6 billion) for agriculture and rural development, VNĐ144 trillion ($5.8 billion) for export financing, VNĐ102 trillion ($4.1 billion) for supporting industries, and VNĐ5.3 trillion ($212 million) for tech enterprises.

 

But SMEs remained the top priority, accounting for over 45 per cent at VNĐ2.23 quadrillion ($89.2 billion).

 

Targeted credit programmes also achieved notable results.

 

The VNĐ150 trillion ($6 billion) scheme for agricultural, forestry and fishery processing industries saw strong growth, with disbursements of VNĐ32.529 trillion ($1.3 billion) to over 9,700 borrowers.

 

In the housing sector, Resolution 33/NQ-CP, for supporting social housing, workers’ housing and renovation of old apartment blocks, saw 12 projects approved in the city.

 

Three of them received VNĐ280.86 billion ($11.2 million), while another VNĐ724 billion ($29 million) was provided to projects outside the city.

 

Loans to enterprises based in export processing zones and industrial parks reached VNĐ283.764 trillion ($11.35 billion), up 7.7 per cent from September, with short-term loans accounting for 79.4 per cent, indicating that working capital remains the primary demand in the production sector.

 

The city’s Market Stabilisation Programme continued to perform effectively, with cumulative loans to it reaching VNĐ19.059 trillion ($762 million).

 

The programme has helped stabilise the supply of essential goods and curb inflationary pressures.

 

The banking sector also strengthened the “bank–enterprise connection” initiative to help businesses access capital and advance digital transformation.

 

In October the SBV office in HCM City, the city Department of Finance and lenders such as Techcombank and ACB held multiple dialogues with businesses.

 

They were aimed at addressing funding bottlenecks and supporting small traders and household businesses.

 

Banks are expected to maintain their positive lending momentum through year-end.

 

The SBV said it would continue to prioritise loans for production, export, supporting industries, and technology innovation, and keep a close eye on risks and non-performing loans. — VNS