Bank credit supports Hai Phong's growth momentum
Strong credit growth in the first five months of 2026 has provided businesses in Hai Phong with additional resources to expand operations and sustain growth.
Credit growth remains strong
Total deposits in Hai Phong were estimated at 669.15 trillion dong at the end of May, up 3.07% from the end of 2025, according to the State Bank of Vietnam's Region 6.
Outstanding loans reached an estimated 538.49 trillion dong, up 6.08%. Credit growth outpaced deposit growth, indicating a clear recovery in demand for capital.
The trend comes as the city's economy continues to show positive signs. State budget revenue in the first five months of the year was estimated at 97.47 trillion dong, exceeding the growth target scenario by 18.8%.
A report by the Region 6 showed that deposit rates remained broadly stable in May, with several commercial banks trimming rates slightly, particularly for medium- and long-term deposits.
Exports in May were estimated at USD 4.1 billion, meeting the city's growth target, while cumulative foreign investment approached USD 2 billion, surpassing expectations. Cargo throughput at local ports also continued to rise.
Dinh Trinh Dung, Chief Executive of Hai Duong Garment No. 2 JSC, said the company's demand for working capital had increased sharply since the beginning of the year as orders rose by more than 30% from a year earlier.
Credit in the city remained focused on production and business activities and other priority sectors. Outstanding loans to small and medium-sized enterprises in the region rose by more than 9% from the end of last year, while lending to the agriculture and rural sector increased by more than 3%.
Nguyen Thi Dung, Director of the State Bank of Vietnam's Region 6 , said credit growth in Hai Phong was closely tracking the local economic recovery. Credit institutions continued to prioritize lending to manufacturing, exports, supporting industries and small and medium-sized enterprises, while tightening oversight of lending to sectors with potential risks.
Interest rates to remain stable
Alongside strong credit growth, the banking sector has also been affected by movements in the exchange rate and gold market.
In May, the U.S. dollar exchange rate in the area edged up from the end of 2025, trading between 26,090 dong and 26,390 dong per dollar. SJC gold prices fluctuated between 154.5 million dong and 167.5 million dong per tael, although the market saw no unusual trading activity.
With pressure on global exchange rates persisting, maintaining stable interest rates remains one of the banking sector's key priorities.
Hai Phong continues to generate strong demand for capital thanks to robust growth in industry, logistics, trade and urban infrastructure. The city is also accelerating key projects, addressing long-delayed developments and promoting the establishment of a free trade zone and specialized economic zones.
Do Khac Huy, director of BIDV Hai Duong, said demand for credit remained strong, particularly among manufacturers, logistics companies and exporters. However, amid continued uncertainty in global markets, banks were prioritizing credit quality while continuing to expand lending.
According to State Bank of Vietnam's Region 6, banks in the area will continue to implement credit policies in line with macroeconomic developments, prioritize funding for production and other key sectors, and accelerate digital transformation and administrative reforms to improve access to financing for businesses and residents.
As Hai Phong targets GRDP growth of around 13% in 2026, bank credit is expected to continue playing a key role in supporting investment and business activity and providing further impetus for economic growth in the months ahead.
Hai Phong News