The newly issued Resolution No.68-NQ/TW encourages financial institutions and credit organisations to assess lending not only based on collateral but also on business models, market expansion plans, data, cash flow, and value chains.

Nguyen Duc Lenh, deputy director of the State Bank of Vietnam (SBV) for Region 2, said the resolution will create dynamic factors for diversifying lending methods, while providing foundational conditions that facilitate the development of banking credit and financial services.

“The connectivity solutions proposed in Resolution 68 include information sharing among banks, tax authorities, and other relevant agencies. They ensure seamless integration of data on business operations, financials, and credit scoring by lenders,” Lenh said.

“Once effectively implemented, these solutions will lay the foundation for a breakthrough in data-driven and cash flow-based lending, as well as unsecured loans. This will ultimately make it easier for businesses to access bank credit, supporting their expansion and growth,” he added.

Nguyen Quoc Huy, deputy director of SBV Region 1, emphasised that one of the highlights of Resolution 68 implementation in Hanoi is the bank-business connectivity programme.

“With the approach of banks reaching out to businesses, hundreds of credit dialogue sessions and lending conferences have been organised across districts and industrial clusters to directly resolve lending bottlenecks,” he noted. “Banks have simultaneously reformed their procedures, simplified paperwork, and adopted digital technologies to shorten processing time, thereby reducing lending rates to reasonable levels.”

Thanks to these comprehensive efforts, as of April 30, total outstanding loans under the bank-business connectivity programme in Hanoi reached approximately $22.13 billion, a sharp increase compared to the same period last year, added Huy.

In response to the strong push for private sector credit, many banks have rolled out new initiatives. Phung Thi Binh, deputy general director of Agribank, stated that the lender has been allocated a 13 per cent credit growth quota by the SBV for 2025, equivalent to $9.2 billion, of which the majority will be directed towards private-sector clients.

“Agribank currently operates nine preferential credit programmes targeting key sectors such as export-import, business operations, and small- and medium-sized enterprises (SMEs),” said Binh. “However, to improve access to credit, they must enhance financial transparency, particularly in accounting records, and strengthen governance capacity. This is essential for banks to accurately assess performance and credibility, thereby enabling them to provide appropriate financing.”

Pham Nhu Anh, CEO of MBBank, said the bank has allocated half of its 2025 lending to retail and half to enterprises, including micro enterprises and SMEs, which are considered similar to retail clients.

“For micro and small businesses, common challenges include high risk, bad debt, and small loan sizes that demand large servicing infrastructure. MB addresses this through digital platforms and technology, using data for automatic approvals and targeted customer segmentation. This ensures safety and reduces risk for both the bank and clients, although risk cannot be completely eliminated,” Anh explained.

Ho Van Long, deputy general director and head of VIB’s Retail Banking Division, said that VIB has designed a comprehensive financial solution package to support SMEs and deliver optimal benefits.

“Specifically, they can use the VIB Business Card with a credit limit of up to $40,000 without collateral and enjoy lifetime annual fee waivers. With the longest interest-free period on the market of up to 58 days, SMEs can use the card for payroll or business expenses and enjoy unlimited cashback,” he said.

Tu Tien Phat, CEO of ACB, stressed that prioritising commercial credit for SMEs and enhancing credit policies for the private sector is a major step forward, but a clear legal framework is needed.

“In this context, finalising the Credit Guarantee Fund and the SME development fund is crucial. These funds act as intermediaries sharing risk with banks, thereby encouraging them to lend more boldly to promising businesses with innovative and creative models,” he said.

As the first bank to take action after Resolution 68 was issued, ACB announced a series of special policies focused on four key areas: capital, digital transformation, market expansion, and sustainable development.

“ACB launched a support package worth $1.6 billion, half allocated to SMEs, and half to large firms investing in infrastructure and digital technology to drive supply chain credit. Preferential lending rates are at least two percentage points lower than regular rates,” said Phat. “Loans for exporters do not require collateral; the bank also offers supply chain financing and unsecured overdrafts for SMEs.”