Demand for bank loans from businesses has surpassed that of individual borrowers, emerging as the main driver of credit growth in Vietnam, according to a third-quarter 2026 business sentiment survey of credit institutions conducted by the State Bank of Vietnam.
The survey found that demand for banking services—including deposits, payments and borrowing—improved significantly in the second quarter of the year, compared with the first.
Among these services, loan demand recorded the strongest increase, while demand for deposits and payment services continued to grow at a slower pace. Notably, borrowing demand from corporate customers overtook that of retail customers, signaling a shift in capital flows toward business expansion and investment activities.
Despite the improving outlook, banks have become slightly more cautious in their forecasts. Credit institutions lowered their expectations for deposit growth in 2026 by 1.6 percentage points from the previous survey to 14.3%, while projected credit growth was revised down by 1.5 percentage points to 14.5%.
For the third quarter, lenders expect both total deposits and outstanding credit to increase by an average of 4.2%.
The banking sector also reported a continued, albeit slower, decline in non-performing loan ratios during the second quarter, with further improvement expected in the months ahead.
Meanwhile, 84.1% of surveyed credit institutions forecast positive pre-tax profit growth in 2026, while only 10.6% expect profits to decline.
Google translate