At the State Bank of Vietnam's meeting with top commercial bank executives on the morning of 19/10, ACB General Director Từ Tiến Phát said the bank would immediately implement the government's and central bank's directives. ACB will cut rates on its deposit rate table from today, effective the next day, and launch a special lending program reducing loan rates by 1.5% to 2% for businesses. He said its earlier program, a 1% rate cut, had disbursed about VND 5,000 billion so far. He described the central bank's warning that non-compliant banks could face reduced credit growth targets as a strong message that reinforces market discipline. He also expressed confidence that the State Bank will keep monetary policy flexible to support the system.
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Original headline: Tổng giám đốc ACB Từ Tiến Phát: Hôm nay ngân hàng sẽ giảm luôn lãi suất cho vay 1,5-2%/năm
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ACBinterest ratesState Bank of Vietnamcredit
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Related tickers and likely impact
ACB
▼ Likely negativeAsia Commercial Bank
Relevance: medium
| Market | Vietnam stocks |
|---|---|
| Exchange | HOSE |
| Sector | Banks |
| Market cap | 119,571 bn VND |
| P/E | 7.6 |
| P/B | 1.20 |
| Close on 10/16/2026 | 20.60 |
| Change that session | 0.00% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- Another big bank, VietinBank, cuts lending rates by up to 2% per year
VietinBank announced on October 19 measures to cut lending rates by up to 2% per year to lower capital costs for businesses and households and support production through the end of 2026, prioritizing agriculture, affordable housing and infrastructure. It also runs a VND 50,000 billion credit program through 2028, with rates at least 1% per year below average. Agribank cuts rates by up to 2% per year and keeps a VND 70,000 billion program, Vietcombank pledged cuts of at least 2% by year-end, and BIDV offers loans from 6% per year. The moves follow a State Bank of Vietnam directive on October 18 requiring deposit rate cuts of at least 0.5% per year for terms of 6 months or more, and lending cuts of 1.5–2% per year for production and business.
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- State Bank Governor calls for interest rate cuts to be considered for both existing outstanding loans and new loans
On 19/10/2026, Governor Phạm Đức Ấn chaired a meeting with deputy governors, the Association of Banks and leaders of 46 commercial banks on banking operations. He said that as of last weekend, deposit mobilization had grown 11.22% and credit 11.44%, and the VND gap between loans and deposits had narrowed to below 1.5 quadrillion dong from nearly 2 quadrillion. Dispatch No. 9608/NHNN-CSTT requires credit institutions to cut listed deposit rates by at least 0.5% per year for terms of six months or more, and to reduce lending rates by 1.5–2% per year for production, business and priority sectors. Cuts must match each bank's financial capacity, be tied to cost reductions and profit sharing, avoid across-the-board moves, and apply to both existing and new loans.
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