The press conference to inform about the results of the first 6 months of the year and the implementation of tasks for the last 6 months of the year of the State Bank took place this morning (July 8). Deputy Governor Pham Thanh Ha said that as of June 30, credit in the whole economy had reached over 17.2 million billion VND, up 9.9% compared to the end of last year, mainly focusing on priority areas and production and business.
If calculated in absolute numbers, after only half a year, nearly 1.55 million billion VND of outstanding credit balance has been pumped into the economy, equivalent to nearly 260,000 billion VND/month.
Compared to the same period in 2024, this figure increased by 19.32%, also the highest credit growth since 2023.
Mr. Pham Thanh Ha commented that the global economy slowed down at the beginning of this year, affected by factors such as rapidly changing tax policies and escalating geopolitical tensions.
With a flexible, proactive monetary policy in line with market developments, the State Bank has maintained operating interest rates, creating conditions for credit institutions to access capital sources at low costs, supporting the economy. At the same time, the State Bank has directed credit institutions to reduce costs, promote technology application, and digital transformation to strive to reduce lending interest rates.
The State Bank also aims to flexibly manage exchange rates and coordinate monetary policy tools to stabilize the foreign exchange market, contributing to maintaining the macro economy and controlling inflation.
Deputy Governor Pham Thanh Ha at the press conference on July 8 (Photo: SBV).
In the field of payment and digital transformation, the State Bank leader said that this unit continues to improve the mechanism and policies on non-cash payments, promote digital banking and apply new technologies. At the same time, it ensures system safety and expands access to modern payment services for people and businesses.
To date, most basic banking services have been performed on digital channels, with many banks achieving a rate of over 95% of transactions performed on digital channels.
As of June 13, the entire banking industry had more than 117 million customer records biometrically verified through chip-embedded citizen identification cards (CCCD) or VneID, reaching nearly 100% of the total number of personal payment accounts generating transactions on digital channels.
More than 927,000 institutional customer profiles have been biometrically verified, representing more than 70% of the total number of institutional payment accounts generating transactions on digital channels.
In the remaining months of the year, Deputy Governor Pham Thanh Ha commented that the global economy will continue to face many uncertainties.
For example, the US recently announced a 25-40% tariff on 14 countries, effective from August 1, and warned that it would increase tariffs if these countries retaliate. In addition, inflation has decreased to near target, but there is still a risk of rising again...
The State Bank will continue to operate monetary policy proactively, flexibly, and in sync with fiscal policy and other macroeconomic policies, to promote growth, stabilize the macro economy and control inflation...
Source: https://dantri.com.vn/kinh-doanh/hon-17-trieu-ty-dong-tin-dung-bom-ra-nen-kinh-te-sau-nua-nam-20250708110207981.htm
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