On 19 October 2026, State Bank of Vietnam (SBV) Governor Pham Duc An chaired a meeting with top leaders of commercial banks on implementing operational measures. The SBV said that in the first 9 months of 2026 it ran monetary policy proactively and flexibly; as of 14 October 2026, outstanding credit to the economy reached VND 20,721,583 billion, up 11.44% from the end of last year and 16.73% year-on-year, with a credit growth orientation of 15%. Amid rising international tensions, including the Middle East conflict that pushed up oil prices, several central banks such as the Fed, ECB and BOJ raised rates, strengthening the US dollar. Commercial banks agreed to cut listed deposit rates by at least 0.5% per year for terms of 6 months or more, avoid bidding up deposit rates, and reduce lending rates by 1.5–2% per year, focusing on production, business and priority sectors.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: Kết quả cuộc họp của Thống đốc NHNN Phạm Đức Ấn với các lãnh đạo cấp cao nhất của ngân hàng thương mại sáng 19/10
Keywords
interest ratescreditState Bank of Vietnambanksoil prices
Open a keyword to see other news on the same topic.
Related tickers and likely impact
VNINDEX
• NeutralRelevance: low
| Market | Vietnam stocks |
|---|---|
| Close on 10/16/2026 | 1,705.91 |
| Change that session | +0.45% |
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.
- LPBank Cuts Lending Rates to Support Household Businesses and SMEs
LPBank will cut lending rates by 1.6-2% a year on new short-term loans for production and business needs across its network from Oct. 19 to Dec. 31. The bank is also lowering listed deposit rates by 0.5-0.6% a year for terms of six months or longer and by 0.05-0.1% for shorter terms. The program targets individuals, household businesses and micro-enterprises, with priority for agriculture and rural areas, in line with directions from the Government and the State Bank of Vietnam. General Director Vũ Quốc Khánh said the move aims to share customers' difficulties and direct capital to where it is needed.
- Governor: 'Interest rates on existing loans should also be considered for cuts'
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.
- Nam A Bank CEO: Call to lower interest rate levels is an important SBV message on market discipline
On October 19, Nam A Bank cut its interest rates in line with directives from the Government and the State Bank of Vietnam: listed deposit rates for terms of 6 months and longer fall by 0.5% per year, and lending rates drop by 1.5–2% per year. The bank will prioritize credit for agriculture, rural areas, exports, SMEs, supporting industries and high-tech enterprises. CEO Trần Khải Hoàn said the call to lower rate levels is an important message on market discipline and stressed that sustainable growth must rest on asset quality, risk management and liquidity safety. He added that Nam A Bank does not use interest rates to attract customers, relying instead on its corporate culture.
- Agribank, Vietcombank, BIDV, ACB, Sacombank, LPBank, VietBank simultaneously cut lending rates
Following directives from the Government and the State Bank of Vietnam, Agribank, Vietcombank, BIDV, ACB, LPBank and VietBank have simultaneously launched lending rate cut programmes, typically by 1.5-2 percentage points for priority sectors. Agribank will cut lending rates by up to 2% a year from October 19, with about VND 2,000 billion allocated, and continues a VND 70,000 billion preferential credit package. BIDV's preferential programme, starting October 15, 2026, offers loans from 6% a year on short-term VND lending across its system. Vietcombank has committed to cutting rates by at least 2% by year-end, while Sacombank will allocate VND 40,000 billion in preferential capital with a 2% reduction. VietBank is rolling out a VND 3,000 billion package with cuts of at least 1.5% a year until June 30, 2027.
- LPBank Cuts Deposit and Lending Rates Across Multiple Tenors Following Government Directive
LPBank is rolling out a system-wide program to cut deposit and lending rates from October 19 to December 31, 2026, in line with directives from the Government and the State Bank of Vietnam. The bank will lower listed deposit rates by 0.5–0.6% per year for tenors of 6 months or more and by 0.05–0.1% per year for shorter tenors. It will also cut lending rates by 1.6–2% per year on new disbursements for short-term production and business loans, targeting individuals, household businesses, micro-enterprises and agriculture and rural areas. The move follows a meeting chaired by Deputy Prime Minister Nguyễn Văn Thắng on October 16, 2026, and the SBV's October 18, 2026 directive asking credit institutions to cut lending rates and reduce operating costs.
Related markets
Latest news
- A bank stock unexpectedly drew nearly 300 billion VND in net buying from securities firms' proprietary desks early this week
On 19/10, the VN-Index fell 16.07 points (-0.94%) to 1,689.84, with selling pressure intensifying in the afternoon session. Securities firms' proprietary trading net bought 275 billion VND on HoSE, led by CTG at 230 billion VND, followed by KBC (134 billion), VPB (133 billion) and MSN (45 billion). On the other side, proprietary desks net sold the most of ACB at 221 billion VND and FRT at 144 billion VND.
- BingX, YouHodler added to ESMA MiCA register in latest update
ESMA's latest MiCA register update added nine crypto-asset service providers (CASPs), bringing the total to 375 unique providers, including BingX's Austrian entity MEGE zweite and the Italian subsidiary of YouHodler. Other additions were Spain's Prakma Markets, Openbank Deutschland (a unit of Banco Santander) and two German cooperative lenders, while Denmark's Penning Financial Services is no longer listed. The EMT register stayed at 50 entries for 25 unique entities, the ART register remained empty, and the non-compliant NCASP register rose by five entries to 178. BingX's EU CEO Daniel Lai said the authorization lets the company operate under a clear regulatory framework as it prepares to launch regulated services across the European Economic Area.
- Zcash Developer Zakura Proposes Fix to Stop Quantum Computers Linking Shielded Swaps
Zcash full node developer Zakura has proposed “one-time” viewing keys to stop a future quantum computer from linking a user's shielded Zcash payments. The biggest risk is swaps through NEAR Intents, where each swap out of ZEC posts one of the user's shielded addresses to NEAR's public chain as a refund address, and around $600 million to $700 million had flowed through that route by May, according to Zcash Open Development Lab CEO Josh Swihart. The fix derives a separate incoming viewing key for each published address while leaving the spending key untouched, so a quantum attacker who breaks one address would only see payments to that address. The approach needs no network upgrade, and wallets built on Zakura's open-source libraries, such as Vizor, can add it in the coming weeks, with hardware wallets to follow. At the time of reporting, ZEC traded at $1,165, up 3.6% on the day.
- JPMorgan's JPM Coin, representing dollar deposits, is coming to Ethereum: Bloomberg
JPMorgan will make JPM Coin, a token representing its dollar deposits, available to institutional clients on Ethereum, according to Bloomberg. The bank says Ethereum's liquidity makes it attractive to crypto companies seeking blockchain payments and to financial firms settling trades or backing tokenized assets. The move extends JPMorgan's blockchain work beyond Base and its private Kinexys network, which processes more than $7 billion daily. The bank did not say when the token will go live on Ethereum. Meanwhile, JPMorgan is among US banks planning a shared tokenized deposit network, but it was not on Swift's list of 17 banks preparing live transactions on its blockchain ledger in July.
- Robot factories and hypersonic missiles: JPMorgan Chase’s first $5 billion of defense investments
JPMorgan Chase said it has made $5 billion in startup investments in the first year of its U.S. security and resiliency initiative, a faster pace than expected. The bank had pledged $10 billion into startups over a decade and may expand the program beyond that amount, according to co-president Doug Petno. Among the disclosed stakes, JPMorgan has taken direct positions in Hadrian, which builds automated factories making parts for defense, aerospace and maritime companies, and Castelion, maker of the relatively low-cost hypersonic missile Blackbeard. The bank helped lead a $1.4 billion funding round for Hadrian and was involved in a $1 billion round for Castelion. The direct equity stakes mark a departure from JPMorgan's usual role as a lender and advisor.
- One Year In, JPMorganChase's Security and Resiliency Initiative Is Helping to Strengthen Industries Critical to Long-Term Economic Growth
One year after launching its $1.5 trillion Security and Resiliency Initiative (SRI), JPMorganChase said it has deployed $5 billion in equity investments through its Strategic Investment Group, half of its initial $10 billion SRI allocation. The firm has financed and facilitated more than $230 billion in transactions across SRI's focus areas, including supply chains and advanced manufacturing, defense and aerospace, energy, frontier technologies, and pharma and healthtech. The Strategic Investment Group, led by Todd Combs, invests in venture, growth and later-stage companies, while a team of more than 35 SRI professionals has expanded the initiative to Europe and Canada. Nearly one-third of SRI-related activity in the past year occurred outside the United States, as many critical technologies and supply chains cross borders. Chairman and CEO Jamie Dimon said strong economies and national security require investment in infrastructure, manufacturing, energy, defense and innovation.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.