About 71% of people aged 18 and above have credit history information, meaning they have conducted transactions, such as payments or loans, within the banking system.

Around 33% of adults had savings deposits over the past 12 months, a central bank leader added at a meeting hosted by the National Steering Committee for Financial Inclusion on Tuesday.

Around 290,000 small and medium-sized enterprises (SMEs) have outstanding loans at banks.

Loans for agriculture and rural development accounted for about 24% of total outstanding credit in the 2020-2025 period, 1% below the target of 25%.

The number of non-cash payment transactions has increased by nearly 59% annually, more than double the planned target.

At the meeting, Prime Minister Pham Minh Chinh reiterated that the overarching goal is to ensure social progress and equity, and equal access to banking and financial services. People and businesses are placed at the center as participants and beneficiaries of the outcomes.

In addition to prioritizing support for vulnerable groups, the Prime Minister emphasized that the banking and financial sector must simultaneously develop strategic infrastructure, prioritize green and digital transformation, and restructure the economy.

He also requested ministries and agencies to focus on improving the legal framework, developing digital financial infrastructure, diversifying products and services, enhancing financial literacy, and strengthening consumer protection.

At the same time, the central bank should conduct regular reviews and make flexible adjustments to ensure the strategy’s effectiveness and contribute to sustainable development, he noted.

Under the Financial Inclusion Strategy, the regulator targets 95% of people aged 15 and above having a payment account by 2030. In addition, non-cash payments are expected to reach 30 times GDP, and 30% of adults are projected to have savings deposits.

The authority also expects at least 300,000 SMEs to have outstanding bank loans, and 75% of adults to have a credit history.