Governor Phạm Đức Ấn asked banks to cut lending rates selectively, prioritising production and business loans and considering existing debt, not just new loans. Average lending rates rose 0.2 percentage points to 10.7% in August, about 3 points higher than a year earlier, while legacy floating-rate personal loans reached 12-14%. Banks must cut deposit rates by at least 0.5% for terms of 6 months and above, and on 19/10 BVBank, LPBank and Vietbank published new rates below 7% a year. BIDV offers loans from 6% a year, Vietcombank pledged to cut lending rates by at least 2 percentage points by year-end, and Sacombank launched a 40,000 billion VND package. The State Bank will closely monitor rates and stands ready to support banks' liquidity, as rate hikes by the Fed, ECB and BOJ in September pressure emerging economies.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: Thống đốc: 'Giảm lãi suất cần trúng đối tượng, ưu tiên sản xuất kinh doanh'
Read the original on VnExpress ↗
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interest ratesState Bank of Vietnambankssavings accounts
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Related tickers and likely impact
VNINDEX
▲ Likely positiveRelevance: medium
| Market | Vietnam stocks |
|---|---|
| Close on 10/19/2026 | 1,689.84 |
| Change that session | -0.94% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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