10:49:01 AM | 9/16/2026
Business activities in Phu Tho Province are maintaining their growth momentum, driving growing demand for capital among businesses. Against this backdrop, the banking system is actively channeling capital, directing credit toward production, investment and the province’s key economic sectors.
Military Bank is an active lender providing targeted credit solutions to businesses in Phu Tho Province
In the first months of 2026, business activities in Phu Tho showed many positive signs. The industrial production index rose 24.3
% through July, while the processing and manufacturing sector grew 25.18%. Industries such as electronic component manufacturing, motor vehicles, electrical equipment, paper and paper products continued to post strong growth.
Total retail sales of goods and consumer service revenue reached more than VND91.2 trillion (US$3.51 billion) in the first seven months, up 15.3%. As of July 20, Phu Tho Province had 2,943 newly registered businesses with total registered capital of VND34.2 trillion (US$1.32 billion), while 704 businesses resumed operations. The growing number of businesses and expanding production scale have also increased demand for capital to invest in and expand factories, upgrade machinery, supplement working capital and develop markets. This creates room for the banking system to play its role in supplying financial resources to the economy.
As of the end of August 2026, total deposits in the province were estimated at nearly VND340 trillion (US$13.08 billion), up 4.39% from the end of 2025. Total outstanding credit reached nearly VND401 trillion (US$15.42 billion), up 8.82%. Notably, credit is being directed strongly toward production. Outstanding loans to industry and construction reached nearly VND99.3 trillion (US$3.82 billion), up 17.58% from the end of 2025. This increase shows that credit is closely aligned with businesses’ needs to expand investment and production, particularly in high-growth sectors.
Meanwhile, outstanding loans to trade and services reached more than VND262.6 trillion (US$10.10 billion), up 5.8%; loans to agriculture, forestry and fisheries reached more than VND39 trillion (US$1.50 billion), up 9.16%. Capital is therefore being allocated relatively broadly across economic sectors.
For small and medium-sized enterprises, which play an important role in job creation and sustaining the local economy, outstanding credit reached nearly VND70.5 trillion (US$2.71 billion), up 14.78%. This is a positive sign given that small and medium-sized enterprises often face considerable obstacles in accessing capital, from collateral requirements to documentation, business plans and financial capacity.
Credit is not only expanding in scale but is also being directed toward sectors capable of creating new growth drivers. Outstanding loans to supporting industries reached VND8.163 trillion (US$314 million), up 106.87%; loans for high-tech applications reached VND84 billion (US$3.23 million), up 65.6%. Agricultural and rural credit reached VND142.4 trillion (US$5.48 billion), up 18.22%.
According to the leadership of State Bank of Vietnam Regional Branch 4, the banking system regards people and businesses as the center of its services. Along with providing capital, the banking sector will continue to remove procedural bottlenecks, accelerate digital transformation and direct capital toward effective production and business plans.
In practice, for businesses, access to capital depends not only on the scale of credit but also on the suitability of loan products, the cost of capital, disbursement time and the bank’s support throughout the process of using the funds. Therefore, strengthening bank-business connections is important, helping credit institutions better understand actual needs while enabling businesses to proactively develop financial plans.
Alongside credit growth, credit quality is also being monitored. By the end of August, non-performing loans across the province were estimated at 0.76% of total outstanding loans, down VND26 billion (US$1 million). Maintaining the NPL ratio below 1% shows that credit is expanding while remaining subject to risk-control requirements.
In the final months of the year, businesses’ capital needs are expected to continue rising as production and business activities enter an acceleration phase. In particular, businesses need additional resources to complete annual plans, fulfill orders and prepare for a new production cycle.
Against this backdrop, the Phu Tho banking sector will continue directing capital toward production and business activities, key projects and the province’s key economic sectors, while also stepping up bank-business connection programs and coordinating efforts to resolve obstacles related to lending conditions.
By Duy Hung, Vietnam Business Forum
