MBS says the 68-point rise in VN-Index last week confirmed a short-term bottom around 1,700-1,720 points, despite pressure from a global sell-off in AI stocks and Brent crude nearing USD 117 per barrel. The index gained about 4%, its strongest weekly rise since the start of the year, and ended a four-week losing streak. Under Official Dispatch 9736/NHNN-CSTT, commercial banks must cut deposit rates for terms of six months or more by at least 0.5% a year, and several major banks have launched preferential loan packages with rate reductions of about 1.5-2% a year. The group's reported after-tax profit for the third quarter rose 32.7% year on year, though gains varied widely across sectors. MBS says VN-Index may consolidate around 1,760-1,780 points.
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Original headline: Tin vui cho chứng khoán Việt Nam
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VNINDEXinterest ratesState Bank of Vietnamoil pricesbanks
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Related tickers and likely impact
VNINDEX
▲ Likely positiveRelevance: medium
| Market | Vietnam stocks |
|---|---|
| Close on 10/23/2026 | 1,774.15 |
| Change that session | +0.77% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
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State Bank of Vietnam Governor Phạm Đức Ấn chaired a meeting with credit institutions, urging them to cut interest rates to support businesses and help achieve double-digit economic growth targets. Under Official Dispatch No. 9608/NHNN-CSTT, banks must lower listed deposit rates by at least 0.5 percentage points a year for terms of six months or longer, and cut lending rates by 1.5-2 percentage points for production, business and priority sectors. As of the end of last week, mobilised funds rose 11.22% and credit grew 11.44%, while the gap between đồng loans and mobilised funds narrowed from nearly VND2 quadrillion (US$75.75 billion) to below VND1.5 quadrillion. The SBV strictly prohibits lowering credit standards and may cut credit growth quotas for the rest of 2026 and set lower quotas for 2027 for banks violating interest rate rules. Banks are also urged to tighten control over high-risk lending and to classify bad debts accurately.
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Governor Phạm Đức Ấn has asked banks to prioritize rate cuts for production and business loans, applied selectively rather than across the board, and to consider applying them to existing loans. The average lending rate rose 0.2 percentage points to 10.7% in August, about 3 points higher than a year earlier, while legacy floating-rate loans for individuals reached 12-14%, and some car loans 16-17%. Banks were told to cut operating costs, share profits and reduce funding costs, including lowering deposit rates for terms of six months or more by at least 0.5%. Several banks, including BIDV, Vietcombank, Agribank and Sacombank, have announced preferential loan packages with rate reductions of up to 2 percentage points.
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According to PGS.TS. Trần Hoàng Ngân, the State Bank's call to cut listed deposit rates by at least 0.5% per year for tenors of 6 months or more, and lending rates by 1.5–2% per year, is a boost for businesses at year-end. Outstanding credit to the whole economy exceeded 20.72 million billion VND as of October 14, 2026, up 11.44% from end-2025. On October 18, 2026, the SBV issued Official Dispatch No. 9608/NHNN-CSTT directing credit institutions to cut rates and costs, avoid deposit rate hikes and not lower credit standards. Some banks moved quickly: BIDV offered short-term VND loans from 6% per year from October 15, 2026, while Vietcombank committed to cut lending rates by at least 2% per year until year-end.
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- Vietnam central bank urges rate cuts by commercial banks
The State Bank of Vietnam has instructed commercial banks to cut deposit interest rates by at least 0.5 percentage points, according to Dan Tri. Banks must lower listed annual rates for deposits of six months or longer by at least 0.5 points and cut lending rates for production, business and priority sectors by 1.5 to 2 points. They are also directed to steer credit toward science and technology, digital transformation, green development and education, while tightening lending in high-risk areas, particularly real estate. Banks must also mobilize resources, cut operating costs and share profits to help bring down overall interest rates.
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