The State Bank of Vietnam (SBV), on February 26, announced that it had issued Official Document No.1328/NHNN-CSTT on February 25, directing its branches, credit institutions, and foreign bank branches to stabilize deposit interest rates and reduce lending rates.
Following government directives to lower lending rates and support economic growth of at least 8 percent in 2025, the SBV has instructed banks to maintain stable deposit rates while striving to reduce lending rates. Banks are also urged to cut operating costs, enhance technology adoption, simplify procedures, and share part of their profits to support businesses and individuals in accessing credit.
Credit institutions should prioritize loans for production, business sectors, key economic drivers (consumption, investment, exports), and new growth areas (digital transformation, green transition, circular economy, technology, and innovation). Meanwhile, credit for high-risk sectors must be strictly controlled to ensure financial stability. Banks must also publicly disclose lending rates, deposit-lending rate spreads, and interest rates for credit programs on their websites, regularly reporting this to the SBV.
The SBV has tasked its provincial and municipal branches with monitoring local banks to ensure compliance with interest rate policies and proactively addressing issues. It will also closely supervise interest rate disclosures and banking activities, taking strict action against violations, including unfair competition and non-compliance.
