The bad debts were valued at 119.66 trillion dong ($5.4 billion), the commission said in its yearly financial report.
Loans grew 19.3 percent last year, hastening from 14.3 percent in 2014, the report said. 2015 credit increase was before estimated by the central bank at 18 percent.
After prices soared 23 percent in 2008 and bad debt spiralled out of control, causing a wave of insolvency and a property crisis, inflation, bad debt, credit growth and money stability have been the focus of the State Bank of Vietnam’s policymaking.
The market is now back on course, outpacing much of Asia in 2015 with growth of 6.68 percent, the fastest in five years, helped by an expanding industrial sector and record foreign direct investment.
The government has an 2016 economic growth target of 6.7-7.0 percent. The central bank hopes banks will improve giving 18-20 percent this year.
The commission’s report said 2016 economic growth was boosted by the signing and implementation of a number of free trade arrangements.