SBV excludes tourism and resort loans from real estate credit growth

The State Bank of Vietnam has announced that it will no longer include the growth in credit for tourism and resort-related businesses in the country's real estate credit growth figures. This change in calculation method comes into effect from January 1 through December 31 of the current year. The SBV requires credit institutions to continue strictly adhering to the directives set out in Official Letter No.11686/NHNN-CSTT dated December 2025 regarding the control of credit growth in the real estate sector.

This is the second time this year that the SBV has made adjustments to the calculation method, previously excluding increases in credit for social housing, industrial parks, and export processing zones. The decision does not imply a relaxation of lending conditions for banks, as they are still obligated to comply with the requirements for real estate credit as outlined in Official Letter No.11686 and other relevant guidelines.

The list of affected credit institutions, which includes 25 banks such as VietinBank, Agribank, and BIDV, was provided alongside the announcement.