HCM CITY — Despite HCM City-based banks’ efforts to provide preferential loans, credit growth declined slightly in the first two months of 2025.

According to deputy director of the State Bank of Vietnam’s HCM City office Nguyễn Đức Lệnh, outstanding credit as of February was VNĐ3.936 trillion, down 0.17 per cent from December 2024 but 12.2 per cent up year-on-year.

But credit flows to key economic sectors remained stable.

Foreign currency lending to import-export businesses grew by 1.37 per cent month-on-month.

Lệnh said HCM City banks’ lending remained concentrated on production, business, trade, services, and consumption.

Loans to these sectors account for about 75 per cent of the total amount and mainly meet short-term funding needs.

Lending in February increased by 14 per cent from the previous month.

The central bank’s HCM City office said economic growth solutions help increase the ability to absorb capital and promote credit growth.

Stable, low interest rates and programmes to link banks and businesses would further promote production and consumption, boosting credit growth, the office added.

The state bank aims for 16 per cent credit growth this year.  VNS