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.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: VDSC: Chỉ đạo mới của NHNN có thể khiến một số ngân hàng bị vượt room tín dụng
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State Bank of Vietnaminterest ratescreditbanks
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Related tickers and likely impact
VNINDEX
▼ Likely negativeRelevance: medium
| Market | Vietnam stocks |
|---|---|
| Close on 10/21/2026 | 1,738.67 |
| Change that session | +2.76% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
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As of October 20, 15 of Vietnam's 46 commercial banks had cut their average lending rates by 1.5–2% on the State Bank of Vietnam's directive. Some banks now offer average lending rates as low as 4.1% per year.
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Following a State Bank of Vietnam directive to lower deposit rates, staff at many banks are pushing customers to deposit funds at the last minute before rates fall. The central bank requires banks to cut deposit rates by at least 0.5 percentage point for terms of 6 months and longer, or face tighter credit growth targets. The highest listed rate for 6-12-month terms hit 8% in August, up 2.5 percentage points year on year, while a VnExpress survey found 6-month rates at 8.5-9.2% a year. Since the directive, 15 banks have announced new deposit rate schedules, mostly cutting by 0.5 percentage point to below 7% a year for terms of 6 months and above. Some analysts say rates are near their peak and could ease from early 2027, though a quick reversal is unlikely as credit demand tends to rise toward year-end.
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