The State Bank of Vietnam (SBV) issued Document No. 9608/NHNN-CSTT dated 18/10/2026, directing credit institutions and foreign bank branches to lower overall interest rate levels. Immediately, banks must cut listed deposit rates by at least 0.5% per year for terms of 6 months or longer and reduce lending rates by 1.5-2% per year, focusing on production, business and priority sectors. The SBV stressed that banks must not compete by raising deposit rates or lower credit standards to expand loan volumes. The document also calls for tighter control over lending to large-exposure customer groups and risk-prone sectors, especially loans used to pay capital contributions or buy shares in unlisted companies.
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Original headline: Ngân hàng Nhà nước: Giảm lãi suất tiền gửi niêm yết tối thiểu 0,5%/năm với kỳ hạn từ 6 tháng, các ngân hàng tuyệt đối không đua tăng lãi suất huy động
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interest ratesState Bank of Vietnambankscredit
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Related tickers and likely impact
ACB
▲ Likely positiveAsia 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% |
BID
▲ Likely positiveBIDV
Relevance: medium
| Market | Vietnam stocks |
|---|---|
| Exchange | HOSE |
| Sector | Banks |
| Market cap | 264,071 bn VND |
| P/E | 8.2 |
| P/B | 1.39 |
| Close on 10/16/2026 | 33.95 |
| Change that session | +2.26% |
CTG
▲ Likely positiveVietinBank
Relevance: medium
| Market | Vietnam stocks |
|---|---|
| Exchange | HOSE |
| Sector | Banks |
| Market cap | 237,669 bn VND |
| P/E | 5.9 |
| P/B | 1.22 |
| Close on 10/16/2026 | 30.60 |
| Change that session | +2.68% |
EIB
▲ Likely positiveEximbank
Relevance: medium
| Market | Vietnam stocks |
|---|---|
| Exchange | HOSE |
| Sector | Banks |
| Market cap | 30,455 bn VND |
| P/E | 61.9 |
| P/B | 1.15 |
| Close on 10/16/2026 | 16.35 |
| Change that session | -0.61% |
HDB
▲ Likely positiveHDBank
Relevance: medium
| Market | Vietnam stocks |
|---|---|
| Exchange | HOSE |
| Sector | Banks |
| Market cap | 148,356 bn VND |
| P/E | 7.8 |
| P/B | 1.73 |
| Close on 10/16/2026 | 22.80 |
| Change that session | 0.00% |
LPB
▲ Likely positiveLPBank
Relevance: medium
| Market | Vietnam stocks |
|---|---|
| Exchange | HOSE |
| Sector | Banks |
| Market cap | 113,517 bn VND |
| P/E | 10.1 |
| P/B | 2.64 |
| Close on 10/16/2026 | 38.00 |
| Change that session | +2.15% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
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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.
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- Agribank, Vietcombank, BIDV, MB, ACB, Sacombank, LPBank, VietBank, Nam A Bank Simultaneously Cut Lending Rates
Following directives from the Government and the State Bank of Vietnam, several banks have simultaneously cut lending rates by 1.5–2 percentage points per year for priority loans and sectors. Agribank reduced rates by up to 2% per year from 19/10, setting aside about VND 2,000 billion, while BIDV launched a preferential program on 15/10 for short-term VND loans starting from 6% per year. Vietcombank has committed to cutting rates by at least 2% by year-end, while MB is cutting 1.5% per year for five priority sectors and may apply up to 2% in some cases. Sacombank will allocate VND 40,000 billion to corporate customers with a 2% rate cut, and ACB is cutting rates by 1.5–2% per year for businesses.
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