Key Southeast Projects Need 757,000 Billion VND in Loans

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• State Bank of Vietnam creates mechanism to exclude VND 1.7 million billion from credit growth limits

  The State Bank of Vietnam (SBV) has set a mechanism to exclude from, or add to, credit growth limits for commercial banks financing 35 large, key projects with total borrowing needs of about VND 1.7 million billion, aiming for two-digit economic growth. At a conference in Ho Chi Minh City on 23 October 2026, Deputy Director Nguyễn Xuân Bắc said total credit across the economy reached over VND 20.7 million billion at end-September 2026, up 11.7% from end-2025. Credit in the Southeast region was nearly VND 6.8 million billion, about 35% of national outstanding loans and up 10.93%, and 15 projects there needed around VND 757 thousand billion in borrowing. Governor Phạm Đức Ấn stressed the goal of unlocking financial and banking resources for growth in the Southeast region over 2026–2030.

  CafeF·25/10, 08:52▲ ACB▲ BID▲ CTG▲ EIBcreditbanksState Bank of Vietnam
• Wave of Interest Rate Cuts Gathers Pace, Some Banks Cut Several Times

  Many banks are continuing to cut deposit and lending rates after urgent directives from the Government and the State Bank of Vietnam, and the trend is expected to last through 2026. VPBank will cut lending rates by 1.5% from 26 October for individuals in 6 priority sectors and for SMEs borrowing working capital, and it lowered some online deposit rates by 0.5% from 20 October, with a 10,000 billion VND quota. SACOMBANK has launched a 20,000 billion VND package with 1.5-2% annual rate cuts for individuals, after earlier cutting deposit rates by 0.5% per year for terms of 6 months or more and offering a 40,000 billion VND package with 2% annual cuts for businesses. Vietbank has launched a 3,000 billion VND package with rates at least 1.5% per year lower, valid until 30 June 2027 or until the quota is used up. A plastics company in Ho Chi Minh City said a 2.5 billion VND loan now carries a rate 1.5% per year lower, and an economist said lower rates help businesses free up cash flow.

  CafeF·25/10, 07:35▲ VNINDEXinterest ratesbanksState Bank of Vietnam
• Banks agree to inject 230 trillion VND into businesses and projects: Which names are worth watching?

  At the 23 October 2026 conference organised by the State Bank of Vietnam and the HCMC People's Committee, banks and businesses signed 20 cooperation agreements worth about 230 trillion VND in total. The projects span manufacturing, energy, pharmaceuticals, transport infrastructure, industrial parks and social housing. Notable deals include BIDV and VietinBank co-financing PTSC's EPIC 1 package for the Maydan Mahzam field redevelopment, worth 2.8 billion USD, and Agribank financing 4,867 billion VND for an expressway section of HCMC's Ring Road 4. Vietcombank is providing 1,113 billion VND for Becamex's social housing projects, ACB 500 billion VND for Central Medicinal Materials JSC 2, and HDBank and Vikki Bank are co-financing 50,000 billion VND for the VIFC-HCMC project cluster.

  CafeF·24/10, 14:15▲ VNINDEXbankscreditState Bank of Vietnam
• Banks cut deposit rates but borrowing costs remain high

  Vietnamese banks have begun cutting deposit rates under a State Bank of Vietnam directive, with over 20 banks reducing rates as of October 22, though lending rates remain high. SBV Governor Phạm Đức Ấn asked banks to cut lending rates by 1.5-2 percentage points a year for production, business and priority sectors, and deposit rates by at least 0.5 percentage points for terms of six months or longer. Banks that fail to comply could face lower credit growth targets, and the central bank will monitor average rates on new transactions in the final months of 2026. As of end-September, average individual lending rates ranged from 7.73 per cent at BIDV to 11.38 per cent at OCB. Expert Nguyễn Đức Độ said high funding costs remain a major obstacle and suggested transparent interest subsidies funded by the state budget.

  vietnamnews.vn·23/10, 10:00▲ VNINDEX▲ ACB▲ BID▲ CTGinterest ratesbanksState Bank of Vietnam
• Savings Interest Rates Have Risen for 11 Consecutive Months

  The average deposit interest rate has risen continuously since October 2025, reaching 8.1% for 6-12 month terms versus 5.5% a year earlier, before climbing more slowly under State Bank of Vietnam guidance. The average lending rate in September was 10.9%, nearly 2 percentage points higher than at the end of last year, while short-term rates for priority sectors remain capped at 4%. Many banks have announced deposit rate cuts of at least 0.5 percentage points, and the streak of increases is likely to end this month, with some analysts expecting rates to stay flat until year-end. The State Bank of Vietnam also asked banks to cut lending rates by 1.5-2 percentage points a year for production, business and priority sectors, and warned that non-compliant institutions could face reviews of their remaining credit quotas.

  VnExpress·23/10, 05:54▼ VNINDEX▼ ACB▼ BID▼ CTGinterest ratessavings accountsbanks
• VDSC: New State Bank of Vietnam directive may push some banks over credit growth limits

  According to VDSC, State Bank of Vietnam Official Dispatch 9608 asks banks to cut listed deposit rates by at least 0.5 percentage points a year for terms of 6 months or longer, and to cut lending rates by 1.5–2 percentage points a year for production and business sectors. Non-compliant banks could face adjusted credit growth targets for the rest of 2026, lower quotas in 2027, or stricter safety ratios. VDSC estimates SHB, TPBank and Techcombank already exceed their 2026 credit growth limits after counting outright L/C purchases. Although at least 19 banks cut deposit rates on October 19–20, VDSC expects lending cuts to exert short-term pressure on net interest margins (NIM), with the impact varying across banks.

  CafeF·22/10, 04:31▼ VNINDEXState Bank of Vietnaminterest ratescredit

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