Preferential credit packages fuel growth

Channeling capital to priority sectors

In late May 2026, Hai Binh HD Co., Ltd., based in Le Thanh Nghi Ward, Hai Phong, and operating in the household electrical appliances business, completed procedures to obtain a preferential working capital loan from Agribank Hai Duong. The package is one of several preferential lending programs currently offered by Agribank Hai Duong, featuring interest rates that are 1 – 1.5 percentage points per year lower than standard lending rates, depending on the loan package and the customer's profile.

Since the beginning of 2026, Agribank Hai Duong has provided preferential loans to more than 200 manufacturing and business enterprises across the locality, with total lending exceeding VND 400 billion.

Agribank is not alone. Other banks, including BIDV, VietinBank, Bac A Bank, and Techcombank, are also offering preferential lending programs for businesses and household enterprises engaged in production and commercial activities.

These programs generally provide interest rates lower than prevailing lending rates or offer additional reductions for priority sectors. Currently, short-term preferential lending rates typically range from 8% to 9.5% per year, while medium- and long-term loans generally carry interest rates of 9% to 11.5% per year, depending on the loan term, customer profile, and financing plan.

In addition to preferential interest rates, many banks have simplified lending procedures, accelerated the digitalization of their processes, and expanded lending based on business plans and cash flow, enabling businesses and household enterprises to access capital more quickly.

Supporting economic growth

Banks' active rollout of preferential credit packages comes as interest rate trends continue to evolve. After a period of reductions aimed at supporting the economy, deposit interest rates at many banks have begun to rise again, leaving limited room for broad-based cuts in lending rates. Recent developments suggest there is little scope for further reductions in either deposit or lending rates during the second half of 2026, with rates likely to remain broadly stable.

As a result, instead of reducing lending rates across the board, many banks are concentrating resources on preferential lending programs targeting priority sectors. This approach enables them to support customers while maintaining funding balance and ensuring operational safety.

The trend is also in line with the State Bank of Vietnam's policy of directing credit toward production, business activities, and key drivers of economic growth. According to the State Bank of Vietnam's Region 6 Branch, outstanding loans in Hai Phong reached VND 545.743 trillion at the end of the second quarter of 2026, up 7.51% from the end of 2025. Of that total, outstanding loans to small- and medium-sized enterprises reached VND 110 trillion, lending to the agriculture and rural development sector totaled VND 125 trillion, and lending to supporting industries reached VND 25 trillion.

These figures indicate that credit has expanded not only in scale but also in a manner that prioritizes sectors capable of generating higher added value and creating broader economic spillover effects. Meanwhile, the bank–business connection program continues to help credit institutions better understand customers' challenges, remove barriers to accessing financing, and develop credit products that better meet actual market needs.

HA KIEN