Recently, the State Bank of Vietnam announced data on credit programmes launched by credit institutions to support small and medium-sized enterprises (SMEs). According to data updated as of 24 August 2026, four major State-owned commercial banks registered credit programmes with a combined value of VND 220 trillion. Of this amount, Agribank registered VND 70 trillion, while BIDV, Vietcombank and VietinBank each registered VND 50 trillion. In addition, joint-stock commercial banks including SHB, MSB, Sacombank, BVBank, Nam A Bank, NCB, Saigonbank and TPBank also announced credit programmes with a combined value of VND 188 trillion.

Against this backdrop, Agribank continues to allocate significant resources to support the business community, particularly SMEs, which have substantial demand for capital to maintain and expand production and business activities and enhance competitiveness.

In line with the directions of the Government and the State Bank of Vietnam, Agribank’s preferential credit programme focuses on priority sectors and key drivers of economic growth. Through the programme, the Bank continues to uphold its role as a key State-owned commercial bank in providing capital for production and business activities, supporting enterprises and contributing to the achievement of double-digit growth targets.

Accordingly, the programme will be implemented from August 2026 through 2028, offering preferential lending rates that are 1.0–2.0 percentage points per annum lower than Agribank’s average lending rates for equivalent tenors. The programme applies to SME customers, enterprises and individual business customers operating in priority sectors and areas that serve as economic growth drivers, including agriculture and rural areas, supporting industries, enterprises applying high technology, exports, the digital economy, artificial intelligence, the semiconductor industry, processing and manufacturing, and projects included in the green classification list.

Two years ago, in May 2024, the Agency for Enterprise Development under the Ministry of Planning and Investment, the Improving Private Sector Competitiveness Project (IPSC) and Agribank signed a memorandum of understanding on activities to support SMEs in the agricultural sector in accessing finance. Also in 2024, Agribank allocated VND 10 trillion in preferential short-term loans for SME customers, with lending rates up to 1.5 percentage points per annum below the prevailing lending rate floor, aimed at helping enterprises stabilise and promote their production and business activities.

Earlier, in 2020, when the Covid-19 pandemic was evolving in a complex manner and having a significant impact on the business community, Agribank launched a preferential credit package of up to VND 30 trillion for SME customers. The package formed part of the banking sector’s efforts to help enterprises overcome difficulties and maintain production and business operations, while contributing to the dual objective of pandemic prevention and control alongside economic recovery and development. At the time, lending rates were 4.8% per annum for short-term loans and 7.5% per annum for medium- and long-term loans.

The programmes implemented across different periods not only demonstrate Agribank’s role and responsibility as a key State-owned commercial bank in carrying out assigned political and economic tasks, but also reflect its proactive approach to resource allocation and credit management in line with the directions of the Government and the State Bank of Vietnam. Capital has been prioritised for production and business activities and sectors that drive growth, thereby supporting enterprises in maintaining and expanding their operations, enhancing their capacity for development and contributing positively to economic growth.

Agribank’s continued implementation of credit programmes for SMEs reflects a clear shift from the traditional approach of simply providing credit towards working alongside enterprises throughout their development process. Agribank’s proactive engagement and continued introduction of preferential credit programmes, together with more appropriate interest rates and mechanisms, not only help translate the policies of the Government and the State Bank of Vietnam on SME support into practice, but also create additional conditions for enterprises to maintain operations, expand production and business activities, and strengthen their competitiveness. The effective implementation of these programmes has been helping unlock capital flows and provide further momentum for the SME community to accelerate growth, contributing to Vietnam’s efforts to achieve rapid and sustainable economic growth in the new period.

Kylie Nguyen