Banking sector in 2025: Credit growth of 17.87%, breakthrough in digitalization.
By 2025, the banking sector is projected to reach 18.4 million billion VND in credit, see a 42.34% increase in cashless payments, and successfully establish QR code connectivity with four countries in the region.
At the press conference announcing the results of operations in 2025 and the implementation of tasks in 2026, Deputy Governor of the State Bank of Vietnam Pham Thanh Ha stated that the banking sector has achieved impressive results, playing a pivotal role in macroeconomic stability and promoting national digital transformation.
Credit reached over 18.4 million billion VND.
System-wide credit growth in 2025 is projected to reach...17.87%This is equivalent to an outstanding loan balance of over 18.4 million billion VND. Capital flows are directed towards priority sectors such as agriculture, rural areas, small and medium-sized enterprises, and supporting industries. Notably, credit for the high-tech sector recorded outstanding growth of over 30%.
The State Bank of Vietnam has implemented a flexible monetary policy to control inflation and stabilize the exchange rate amidst volatile international markets. Lending interest rates have maintained a downward trend, facilitating access to capital at reasonable costs for individuals and businesses to recover production and business activities.
Breakthroughs in digital transformation and cross-border payments.
2025 marks a major leap forward in banking technology infrastructure with impressive digitalization indicators:
- 95%:The proportion of transactions conducted through digital channels at many credit institutions.
- 143 million:The number of individual customer records that have been biometrically identified through citizen identification cards.
- 42.34%:The growth rate of cashless payment transactions compared to the previous year.
Notably, Vietnam has completed cross-border retail payment connectivity via QR code with four countries, including:Thailand, Laos, Cambodia, and ChinaExpanding this digital financial space will not only boost trade but also enhance the position of Vietnam's payment system in the region.
完善 legal framework and restructure the system
In addition to business indicators, the State Bank of Vietnam has proactively improved the legal framework by submitting important draft laws to the National Assembly, such as the Law amending the Law on Credit Institutions and the Law on Deposit Insurance. Controlled testing mechanisms (sandboxes) for Fintech have also been implemented to promote innovative banking models.
The restructuring of the organizational structure has been carried out decisively in a streamlined manner, notably the reorganization of 15 regional branches to align with administrative reforms. These efforts are expected to create a solid foundation for a new phase of development for the banking industry from 2026 onwards.
