As of July 13, 2026, Vietnam's total credit outstanding has reached nearly 20.1 trillion VND, marking a 7.86% increase compared to the end of 2025. This growth comes as the banking system has injected approximately 1.46 trillion VND into the economy in just the first half of the year, aiding production and business activities and driving overall economic growth.

Hà Thu Giang, the Director of the Credit Department for Economic Sectors at the State Bank of Vietnam, shared these insights during a recent seminar titled "Solutions for Developing a Unified Capital Market." The reported GDP growth of 8.18% in the first half of 2026 surpasses the 7.63% recorded in the same period of 2025 and represents the highest growth rate from 2011 to 2026. This achievement is attributed significantly to monetary and credit policies.

The State Bank has directed credit institutions to channel funds into priority sectors, growth drivers, and key projects while simplifying credit mechanisms and procedures to alleviate challenges faced by citizens and businesses. Over 1,000 meetings and dialogues between banks and enterprises have been organized nationwide in the first half of the year, resulting in notable outcomes for several specialized credit programs.

• The agricultural, forestry, and fishery credit program has disbursed over 225.577 trillion VND, achieving 122% of its target.
• The social housing credit program, as per Resolution 33/NQ-CP, has disbursed 12.440 trillion VND, with an outstanding balance of 10.175 trillion VND.
• A program for high-quality rice production, processing, and consumption in the Mekong Delta has disbursed around 4.400 trillion VND.
• Infrastructure, energy, and strategic technology funding have an outstanding balance of 11.649 trillion VND.

However, Giang cautioned that the banking system is facing increasing pressure to provide capital for the economy. The total investment capital demand for 2026 is projected to be around 5.1 trillion VND, with a staggering 38.5 trillion VND required from 2026 to 2030. The credit-to-GDP ratio stood at approximately 145% in 2025, indicating a heavy reliance on bank funding.

Notably, the demand for medium and long-term capital for infrastructure, energy, and major projects is rising, while the funding sources for credit institutions are primarily short-term deposits. This mismatch increases the risk of term discrepancies and liquidity pressures within the banking system.

Giang emphasized the need to develop the capital market, particularly the corporate bond market, to create effective channels for medium and long-term funding, thereby alleviating the pressure on the banking system. Additionally, she highlighted the importance of proactive and flexible credit management, accelerating public investment disbursement, reforming administrative procedures, and resolving obstacles for investment and business activities to enhance the economy's capacity to absorb capital.

These measures are crucial for achieving an economic growth target of over 10%, while maintaining macroeconomic stability and ensuring the safety of the financial and banking system.