Banking system credit reaches over 19.18 quadrillion VND as of March 31, up 3.18%

Credit to the Vietnamese economy stood at over 19.18 quadrillion VND as of March 31, up 3.18% compared with the end of 2025, according to the State Bank of Vietnam (SBV). At a press briefing on the banking sector’s Q1 2026 results on April 14, the SBV said it will continue to conduct monetary policy actively and flexibly to respond to complex global economic variables.

SBV’s near-term monetary policy priorities

The SBV said its immediate focus is to remain aligned with the inflation target, stabilize the exchange rate, monitor the gold market, and direct credit toward production and business to help build a solid macro foundation for robust growth.

Credit growth and sector allocation

On credit growth, the SBV targets around 15% for the whole system in 2026, with adjustments based on actual conditions. As of March 31, credit to the economy reached over 19.18 quadrillion dong, up 3.18% from end-2025.

The SBV said credit is managed with tight control, with flows steered away from higher-risk sectors and directed toward productive activities and prioritized sectors intended to act as growth drivers.

Gold market monitoring

With gold prices remaining high amid global conflicts, the SBV said it continues to monitor the market and coordinate with relevant authorities to manage and stabilize it in line with current regulations.

Digitalization, cashless payments, and fraud prevention

The SBV also highlighted progress in digitalization and cashless payments. The volume and value of transactions via electronic channels and QR codes continued to rise, while demand for cash withdrawals via ATMs declined.

It added that the deployment of biometric verification and the SIMO fraud-detection system helped prevent thousands of billions of dong in risky transactions, protecting customers.

Banking restructuring and bad-debt resolution

Alongside digital transformation, the SBV said ongoing restructuring of the banking system and resolution of bad debts remain priorities to ensure system safety in a challenging economic environment.

Outlook and policy direction

Deputy Governor Pham Thanh Ha said the economy faces latent inflation pressures from high energy costs and external uncertainty, alongside strong domestic funding demand. In line with the Prime Minister’s directive to achieve two-digit growth on the basis of macro stability, the SBV said it will continue operating monetary policy actively and in a coordinated manner.

The SBV said it will focus on monitoring interest-rate movements to provide timely liquidity; strengthening supervision to ensure transparent lending rates at banks; and managing the exchange rate and the gold market flexibly.

It also said the banking sector will continue simplifying credit procedures, directing capital toward green growth and sustainable development, and accelerating digital transformation to support safer and more efficient access to funding for households and businesses.