Banks await higher credit growth quota
- 164
- Business
- 11:38 31/05/2022
DNHN - Commercial banks are expecting to have higher credit growth limits in Q2 2022 as they have already used up most of their assigned quota this year.
Under the current regulations, the State Bank of Vietnam (SBV) sets credit growth limits for each commercial bank at the beginning of the year depending on the bank’s health, including capital adequacy ratio, financial strength, risk governance and operational status. This was done to control credit growth of the entire banking system and to ensure money supply and inflation control as targeted by the Government.
Chairman of Vietcombank Pham Quang Dung said Vietcombank’s credit growth reached 8.8 percent by April 29 while Vietcombank was granted a 10 percent credit growth quota.
At Military Bank (MB), CEO Luu Trung Thai also revealed that the bank has been assigned a credit growth target of 15 percent so he expected the quota to be further extended in the near future.
According to Bao Viet Securities (BVSC), MB has almost reached the assigned credit growth quota as the bank’s credit growth by the end of Q1 2022 reached 14.8 percent. MB therefore is waiting for a SBV’s approval of a higher credit quota.
Meanwhile, ACB's officials said they had applied to the SBV for an additional credit quota and hoped to have it to be approved by the end of June or at the beginning of July this year to have more room for lending.
By the end of Q1 2022, ACB's total outstanding loans reached 380 trillion VND, up 5 percent compared to the beginning of 2022. In the first four months of the year, the bank's credit increased 8 percent compared to the beginning of this year, mainly from short-term lending to strategic customer segments including individuals, and small- and medium-sized enterprises.
Experts forecast credit growth in 2022 will be higher than last year when the economy begins to recover after the pandemic. Therefore, banks will also be granted higher credit quota to facilitate loan expansion.
Especially, they said, banks such as Vietcombank and MB, which participate in restructuring weak credit institutions according to the Government’s directions, will have the opportunity to get the highest credit quota.
BVSC forecast MB may be able to expand its credit growth room to 30-35 percent while the rise for Vietcombank will be 16 percent.
According to the SBV, credit growth of the entire banking system at the end of Q1 2022 reached 5.04 percent, 2.3 times higher than the same period last year.
SBV Deputy Governor Dao Minh Tu said the surge showed the economy has positive signs and the daily life, production and business of people and firms have also returned to normal thanks to the Government's effective measures against the pandemic.
The credit growth target of the entire banking system in 2022 that the SBV set at the beginning of this year was 14 percent. However, the SBV said the target can be adjusted up or down at the end of the year, depending on the actual situation, to ensure it meet targets of macro-monetary policies and inflation control.
VNA
Related news
- Foreign investors expected to open 150,000 new securities accounts in the next 5 years
- Government’s plan to implement Law on Digital Technology Industry approved
- Vietnam launches “Private Economy Panorama Model” to foster public-private national development
- Shark Nguyễn Hòa Bình: Hanoi will become the capital of startup innovation.
- Deputy Prime Minister Lê Thành Long meets with Osaka Governor Yoshimura Hirofumi to promote Vietnam–Japan cooperation.
- The master sales secrets of luxury king Bernard Arnault that make the world spend
- White House: When politics and technology join forces to rewrite the global AI order
- Da Nang proposes semiconductor cooperation with Oregon (USA)
- Quang Tri calls for investment in wind power plant project worth over VND 1,100 billion
- Hanoi receives two million visitors during the four-day National Day holidays
- Multiple MoUs signed in Da Nang to boost semiconductor development
- UNDP Resident Representative hails Vietnam as an emerging economic powerhouse
- How the UAE Transformed from Oil Wealth to AI Leadership?
- Success in business is always a human story
- Mr. Le Viet Thang, CEO of 1Office: "Don’t use old solutions for new ai challenges"
- VinFast: a strategic pivot amid the green industry storm?
- 127 high-value projects post-merger: Ho Chi Minh City rolls out the red carpet for strategic investors
- Pakistani Ambassador to Vietnam: “Peace and unity are the strength to build the future.”
- Vietnam's Semiconductor Leap: Five Strategic Policies to Reach 2027 Goal
- What’s Vietnam’s game plan as President Trump pressures the Fed?
#banking system

Restructuring the banking sector through mandatory transfers
The State Bank of Vietnam (SBV) has decided on the mandatory transfer of Vietnam Construction Bank (CB) and Ocean Commercial Bank (OceanBank) to Vietcombank and Military Bank (MB), respectively.

The banking sector is the highest brand value growth area in 2024
A total of six major banks have made it into the Top 10 strongest brands in Vietnam, including Vietcombank, BIDV, VietinBank, Techcombank, Agribank, and VPBank.

The State Bank of Vietnam studies the roadmap to remove credit room
The State Bank of Vietnam (SBV) is considering a roadmap to remove the credit room mechanism as directed by the National Assembly and the Government.

Significant drop in fraud cases following nearly three months of biometric authentication implementation
According to statistics from banks, the implementation of biometric authentication regulations has effectively deterred high-tech criminals from using personal accounts for money transfers.

BIDV received 02 prestigious international awards for corporate products and services
Vietnam Joint Stock Commercial Bank for Investment and Development (BIDV) has just been awarded the titles of "Best API Application & Open Banking Bank in Vietnam" and "Best Trade Finance Bank in Vietnam" for 2024 by The Asian Banker.

Bank interest rates on 31st October: Major players compete fiercely
Bank interest rates have been highly volatile, with one bank making its second rate adjustment in the month as of October 31, 2024, underscoring the competitive landscape.
Đọc thêm Business
Foreign investors expected to open 150,000 new securities accounts in the next 5 years
The Ministry of Finance has set an ambitious target to increase the number of securities trading accounts held by foreign investors in Vietnam to 200,000 by 2030—four times higher than the current figure.
Vietnam launches “Private Economy Panorama Model” to foster public-private national development
Billionaire Nguyen Thi Phuong Thao emphasizes that entrepreneurs’ responsibilities extend beyond profits to creating social value.
Deputy Prime Minister Lê Thành Long meets with Osaka Governor Yoshimura Hirofumi to promote Vietnam–Japan cooperation.
As part of his working visit to Japan and participation in the Vietnam National Day at EXPO 2025 Osaka, on September 8, Deputy Prime Minister Lê Thành Long held talks with Osaka Governor Yoshimura Hirofumi.
Larry Ellison’s lesson: Enduring success starts with fixing the market’s pain points
As of today, Larry Ellison has risen to become the world’s second-richest billionaire with a fortune of nearly $260 billion, surpassing familiar names such as Jeff Bezos and Warren Buffett.
The master sales secrets of luxury king Bernard Arnault that make the world spend
Billionaire Bernard Arnault, Chairman of LVMH (Moët Hennessy Louis Vuitton), controls more than 70 of the world’s most prestigious luxury brands, from Louis Vuitton and Dior to Moët & Chandon and Bulgari.
White House: When politics and technology join forces to rewrite the global AI order
The White House became the epicenter of global attention as U.S. President Donald Trump and First Lady Melania Trump hosted a high-profile state dinner, bringing together more than 20 of the most powerful leaders in technology and American business.
Warren Buffett: The contrarian billionaire – What can Vietnamese entrepreneurs learn?
Warren Buffett has never invented a piece of technology, created a product that changed the world, or relied on social media.
Vietnam Golf Course Owners Summit 2025: Driving sustainable growth in golf tourism and golf economy in Vietnam
Vietnam Golf Course Owners Summit2025 (VNGOS 2025), focusing on the sustainable development of golf tourism and the golf economy in Vietnam, will be held for the first time on October 30 - 31, 2025, at Laguna Lăng Cô Resort, Hue City.
President Luong Cuong’s visit to China: A message of Vietnam’s diplomacy
From September 2 to 4, 2025, President Luong Cuong led a high-level Vietnamese delegation to attend the 80th anniversary of the world’s victory over fascism and to carry out a series of high-level diplomatic activities in China.
Prof. Dr. Huynh Van Chuong: A strategy to elevate Vietnam’s education on the global stage
On the occasion of the 80th anniversary of Vietnam’s education sector and the opening of the 2025–2026 academic year, Professor Huynh Van Chuong shared insights on key achievements in education quality management.