As the government aims for a GDP growth target exceeding 8% for 2025, Agribank is proactively implementing various measures to stimulate credit growth, which is crucial for supporting this goal.

In order to achieve the government's GDP growth target of over 8%, this year, the banking sector has set a credit growth rate of 16%, which will be adjusted in accordance with real circumstances. Currently, banks have been allocated their credit limits for 2025 and are actively implementing measures to stimulate demand from the very beginning of the year.

According to Mrs. Phung Thi Binh, Deputy General Director of Agribank, Agribank, along with other commercial banks, has recently received a document from the State Bank of Vietnam (SBV) regarding the calculation of credit targets for the year 2025. At the end of 2024, Agribank's credit scale had reached over VND 1.7 trillion; thus, in 2025, Agribank may inject an additional VND 230 trillion into the economy. The government has set a target for GDP growth of over 8% this year. In this context, Agribank's overall credit growth in 2025 is expected to be more favorable than in 2024.

At the very beginning of the year 2025, Agribank has offerred four preferential lending programs for legal entities, including import-export enterprises, FDI enterprises, corporate customers, and small to medium-sized enterprises. Accordingly, depending on the target group, scale, and loan duration, customers will benefit from a reduction of 1.2% to 1.8% per annum on standard interest rates. Additionally, for individual customers, Agribank has also launched a preferential credit package of up to VND 110 trillion.

In addition to the credit allocated for prioritized sectors, from the beginning of 2025, the State Bank of Vietnam issued a formal request to nine commercial banks to expeditiously disburse a credit package of VND 145 trillion designated for social housing (which originated from a credit package of VND 120 trillion). Currently, Agribank is leading the way in the disbursement of the VND 145 trillion credit package. As of December 31, 2024, Agribank has committed to lending VND 4 trillion to 13 projects and 252 individual customers, with the actual disbursed loan amount exceeding VND 1 trillion.

With the economic recovery trend, the demand for social housing in various localities is set to rise; combined with proactive measures to address legal challenges facing projects, the credit package of VND 145 trillion is likely to see improved disbursement in 2025.

Kylie Nguyen