Vietnam’s banking sector experienced robust credit growth in 2025, with total outstanding loans reaching approximately VND15,800 trillion (approximately $656 billion) as of December 31, 2025 – a 19% increase from the beginning of the year, according to financial reports from 30 domestic commercial banks.
The country’s five largest banks – BIDV, Agribank, VietinBank, Vietcombank, and MB – collectively held over VND8,900 trillion in outstanding loans, representing approximately 56.3% of the total credit market share among the 30 banks. BIDV led the pack with a loan portfolio of around VND2,300 trillion, a 15.72% increase from the start of 2025.
Agribank and VietinBank each disbursed approximately VND2,000 trillion in loans, with credit growth rates of 14.8% and 16.07%, respectively. Vietcombank’s total outstanding loans reached VND1,630 trillion, a 16.05% increase year-on-year. Notably, Military Bank (MB) saw the most significant growth among the largest lenders, with a 40% surge in its loan portfolio, exceeding VND1,020 trillion for the first time.
Among private banks, VPBank demonstrated the strongest performance, with its loan volume reaching VND833 trillion, a 36.63% increase from the beginning of 2025. Techcombank followed with a credit growth rate exceeding 19%, reaching over VND713 trillion in loans. ACB reported a loan portfolio of over VND660 trillion, a 17.28% increase, while Sacombank and SHB also led the market with outstanding loans of VND593 trillion (up 23.57%) and VND592 billion (up 18.29%), respectively.
HDBank’s outstanding loans reached VND518 trillion, a 23.57% increase from the beginning of the year. LPBank, VIB, TPBank, SeABank, MSB, Nam A Bank, OCB, EximBank, PGBank, and Saigonbank also reported significant growth, contributing to the overall expansion of the banking sector’s lending activities.
The State Bank of Vietnam (SBV) has been actively managing liquidity in the face of strong credit demand. In 2025, credit growth (19%) outpaced deposit growth (14%), creating a $40 billion deposit shortfall. As Vietnam targets ambitious 10% GDP growth for 2026, the SBV is carefully monitoring this “liquidity squeeze” to ensure businesses can refinance short-term loans without causing a spike in interbank rates.
The SBV has also been proactive in supporting borrowers facing financial difficulties. As of December 10, 2025, the central bank reported that banks had restructured loans for 2,219 customers with outstanding debts totaling approximately VND1,275 trillion. Banks reduced interest rates for over 69,000 customers with outstanding debts of around VND18,685 trillion.
Banks have also launched credit programs with preferential interest rates to support post-storm recovery and business operations, disbursing approximately VND2,238 trillion to around 10,600 borrowers. These initiatives align with government directives and include programs for forestry and fisheries (expanded from VND15 trillion to VND185 trillion), high-quality and low-emission rice production in the Mekong Delta, social housing, and investments in infrastructure and digital technologies.
Looking ahead to 2026, the SBV anticipates credit growth across the entire banking system of around 15%, with potential adjustments based on actual developments and prevailing conditions. This forecast reflects the central bank’s commitment to supporting economic growth while maintaining financial stability.
The strong credit growth in 2025 underscores the resilience of Vietnam’s economy and the banking sector’s capacity to support its expansion. However, the widening gap between credit and deposit growth presents a challenge that the SBV will need to carefully manage to prevent inflationary pressures and maintain the health of the financial system.
