Standing Deputy Governor of the State Bank of Vietnam Dao Minh Tu speaks at the press conference. (Photo: VGP/HT)

Speaking at a press conference on the banking sector’s performance in 2024 and tasks for 2025, Mr. Tu said in 2024, the domestic economy grew and inflation was controlled in line with the set targets. The State Bank of Vietnam has achieved significant results in managing the monetary policy and banking operations.

“By December 31, 2024, credit had increased 15.08%, surpassing the target of 15% set at the beginning of the year. Compared to the outstanding loan balance of 2023, an additional 83 billion USD has been invested into the economy. This is an increase in credit, not including the loan volume of approximately 906 billion USD. This shows that a large amount of money has been invested into the economy, focused on key sectors, in line with the strong directives of the Government," said Mr. Dao Minh Tu. 

The central bank will continue to keep a close watch on market developments and external and domestic economic trends as it takes steps to control inflation and maintain macroeconomic stability.

Mr. Tu said the central bank will work to strengthen the security and safety of online banking transactions to protect the rights of the customers.