The 2024 Law on Credit Institutions, adopted by the National Assembly and effective from 1 July 2024, and marked a significant milestone in the process of improving Vietnam’s banking legal framework. Based on practical implementation, in 2025 the National Assembly enacted the Law amending and supplementing a number of provisions of the 2024 Law on Credit Institutions in order to address emerging shortcomings and enhance the effectiveness of state management over credit institutions. This article analyses the key new features of the Law, including provisions on establishment criteria, mechanisms for dealing with weak credit institutions, provisions on special lending, the management of secured assets, risk governance, the protection of depositors’ rights and interests, as well as new provisions relating to digital banking, fintech, and green credit. The article evaluates the positive impacts of these reforms while also identifying the difficulties and challenges arising in practical implementation. On that basis, the article proposes recommendations for further improving the 2024 Law on Credit Institutions (as amended and supplemented in 2025).
