More than 52 meetings and dialogues connecting banks and businesses

On the afternoon of March 11, 2025, the State Bank of Vietnam held a conference to promote banking credit to contribute to economic growth in Region 4, including the provinces of Phu Tho, Vinh Phuc, Ha Giang, Tuyen Quang, Lao Cai, and Yen Bai.

The State Bank's leaders said that the provinces in Region 4 have important geographical locations, with Lao Cai and Ha Giang bordering China to the north; Vinh Phuc and Phu Tho bordering Hanoi to the south; and Lai Chau and Son La to the west, and Cao Bang, Bac Can and Thai Nguyen to the east. This region plays an important role in trade and connecting the northern mountainous regions with other provinces in the country, as well as creating a bridge for international trade through border gates with China. To date, the region has 29 banking and credit institutions with 102 level 1 bank branches, 06 branches of the Social Policy Bank, 02 branches of foreign banks, 03 branches of cooperative banks; 98 people's credit funds; 02 branches of Microfinance Institutions (TYM). In the area, there are 446 transaction offices, 787 ATMs, 2,896 POS machines and 05 mobile transaction points.

Conference on promoting banking credit to contribute to economic growth in Region 4

In recent times, the banking sector has implemented many solutions to promote credit growth to meet the capital needs for production and business of people and enterprises, and to contribute resources to perfecting the infrastructure for socio-economic development of the Region.

By December 31, 2024, total outstanding credit in the region will reach VND 441,301 billion, up 12.8% compared to December 31, 2023 (lower than the national growth rate of 15.09%), accounting for 40.75% of total outstanding debt in the Northern Midlands and Mountains region, accounting for about 2.83% of total outstanding debt of the economy. By January 2025, outstanding credit in the region will reach about VND 442,515 billion, up 0.28% compared to December 31, 2024 (nationally up 0.63%).

In 2024, there were 52 meetings and dialogues between banks and businesses held in Region 4. Through the program, credit institutions lent about VND 89 trillion to 2,708 businesses and 526 other entities; restructured debt repayment terms for 33 customers with outstanding debt of about VND 589 billion; in addition, credit institutions also provided support in other forms such as reducing interest rates, fees, etc.

Need to increase credit scale by 71 trillion VND

According to the representative of the State Bank of Region 4, by the end of January 2025, capital mobilization activities in the area reached nearly 387 trillion VND, an increase of 0.3% compared to the end of 2024. Outstanding credit reached over 442 trillion VND, an increase of 12.8% compared to the end of 2023, an increase of 0.28% compared to December 31, 2024; accounting for 40.75% of the total outstanding debt of the Northern Midlands and Mountains region, accounting for about 2.83% of the total outstanding debt of the economy. Of which, Vinh Phuc and Phu Tho have the largest outstanding credit scale (144 trillion VND and 116 trillion VND, respectively), accounting for nearly 60% of the outstanding debt of Region 04. Outstanding credit for the agriculture, forestry and fishery sector reached nearly 58 trillion VND, accounting for 13%. Credit for industry and construction reached over VND112 trillion, accounting for 26% of the total outstanding debt of the region. Credit for trade and services reached over VND270 trillion, accounting for over 61% of the total outstanding credit of the region. The bad debt ratio accounted for 0.75%.

Deputy Governor of the State Bank Dao Minh Tu gave a speech at the conference.

“The credit structure continues to focus on priority areas under the direction of the Government, the Prime Minister and credit programs that promote the potential strengths of localities. Specifically: Lending for agricultural and rural development with outstanding loans reaching over 181 trillion VND, accounting for over 41% of total outstanding loans; Lending to small and medium enterprises reached over 78 trillion VND, accounting for 18% of outstanding loans; Export loans reached over 12 trillion VND, accounting for nearly 3% of outstanding loans; Loans to support social housing under Resolution 33 of the Government reached 162.7 billion VND” - The leader of State Bank Region 4 informed.

To promote credit growth in the region, in the coming time, the State Bank's leaders said that they will continue to closely follow the direction and socio-economic programs of localities in the region, and synchronously implement solutions on monetary and credit policy management.

In particular, focusing on directing credit institutions to implement solutions to reduce deposit and lending interest rates; promoting credit growth from the beginning of the year, directing credit to production and business sectors, priority sectors, and growth drivers; strictly controlling credit for potentially risky sectors; building credit products for sectors and fields in line with the business strategy and resource balancing capacity of credit institutions; focusing on credit investment in key projects and works, green credit, credit serving the development of strong sectors of regions and localities; strengthening administrative reform, creating favorable conditions for people and businesses to access bank credit capital; continuing digital transformation , providing technology products in both credit and payment; promoting consumer credit and strengthening policy communication...