Vietcombank Chairman Nguyen Thanh Tung said the bank commits to cutting lending rates by at least 2% from now until year-end to support businesses, speaking at a National Assembly group discussion on 17 October on the draft Law on Small and Medium Enterprise Development. SMEs make up about 98% of Vietnamese businesses but account for only about 20% of total outstanding credit, and Tung argued that a blanket support scheme could be scattered and ineffective, so resources should target sectors with growth potential. Credit institutions had earlier agreed to cut lending rates by 1.5-2%, and BIDV announced a cut of up to 2% a year on short-term VND loans from 15 October. The average lending rate in August was 10.7%, up 0.2 percentage points from the previous month and about 3 points from a year earlier. An SME association chairman proposed piloting one or two independent digital banks to cut operating costs, while Tung said such models require complete, standardized and shared data.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: Chủ tịch Vietcombank cam kết giảm tối thiểu 2% lãi suất cho vay
Read the original on VnExpress ↗
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VCBinterest ratesbanksbusinesses
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Related tickers and likely impact
VCB
▼ Likely negativeVietcombank
Relevance: medium
| Market | Vietnam stocks |
|---|---|
| Exchange | HOSE |
| Sector | Banks |
| Market cap | 475,438 bn VND |
| P/E | 11.4 |
| P/B | 1.94 |
| Close on 10/16/2026 | 56.90 |
| Change that session | +0.71% |
VNINDEX
▲ Likely positiveRelevance: 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.
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