News about TPB

At a meeting with the State Bank of Vietnam (SBV) on the morning of October 19, TPBank CEO Nguyễn Hưng said the bank is ready to cut its deposit rate by 0.5 percentage points immediately and called for synchronized adjustments across the market to create room for lower lending rates. Rising deposit rates have raised banks' funding costs and pressured net interest margins, while high lending rates increase borrowers' financing costs, cash flow pressure and repayment risk. Under SBV Official Dispatch No. 9608/NHNN-CSTT, credit institutions must cut listed deposit rates by at least 0.5 percentage points per year for terms of 6 months or longer and reduce lending rates for production, business and priority sectors by 1.5–2 percentage points per year. Hưng also praised the SBV for maintaining system liquidity and stable interbank rates, and urged stronger oversight to ensure the cuts are substantive, synchronized and free of unhealthy competition.