As of the end of 2023, credit in the entire economy increased by 13.71% compared to the end of 2022. However, as we stepped into January 2024, credit in the entire system decreased by 0.6% compared to the end of 2023.
Looking at different economic sectors, as of the end of 2023, credit for agriculture, forestry, and fisheries increased by 6.95%; credit for industry and construction increased by 10.29%; credit for trade and services increased by 15.83%.
Credit in priority growth areas performed well. As of the end of 2023, credit for agricultural and rural development increased by 11.56%; credit for small and medium-sized enterprises increased by 13.61%; credit for export increased by 6.57%; credit for industrial support and high-tech application businesses increased by 26.18% and 17.52% respectively. Credit in high-risk sectors remains under control.
Credit for personal purposes increased by 7.83% by the end of 2023 compared to the end of 2022, accounting for 21.19% of the total credit in the economy. As for policy credit at the Social Policy Bank as of January 31, 2024, the total outstanding loans for policy credit programs reached 336,431 billion VND, an increase of 1.36% compared to December 2023, with nearly 6.9 million customers having outstanding loans (an increase of 17% compared to the end of 2023).
Here are some results of credit programs and policies:
A program with a 15,000 billion VND loan for the forestry and fisheries sector has disbursed and completed 100% of the program’s targets for more than 6,000 loan customers.
A program with a 120,000 billion VND loan for social housing, worker housing, renovation projects, and reconstruction of apartments has disbursed a total of 531 billion VND for 6 projects and 4.5 billion VND for homebuyers.
A credit program with a 20,000 billion VND loan for workers under the cooperation agreement between the Vietnam General Confederation of Labor (VGCL) and 2 financial companies, HDSaison and FECredit, has disbursed about 10,056 billion VND for workers.
A restructuring policy on loan repayment periods and maintaining the same debt group according to Circular 02/2023/TT-NHNN has resulted in nearly 188 thousand customers having their loan repayment periods restructured and their debt group maintained, with a total principal and interest value of over 183.5 trillion VND.
A policy of interest rate support from the state budget for loans of enterprises, cooperatives, and individual business households according to Decree 31/2022/NĐ-CP has provided a total interest rate support amount of about 1,218 billion VND for nearly 2,300 customers since the beginning of the program until December 31, 2023 (the end date of the policy as regulated).
