Maintain stable deposit interest rates, reduce lending interest rates

Overview of the conference.

In his opening remarks at the conference, Deputy Governor of the State Bank of Vietnam, Pham Thanh Ha, stated that, in implementing the Government's and Prime Minister's directives on striving to reduce lending interest rates to achieve the economic growth target of 8% or higher in 2025, and the State Bank Governor's directive in Circular 01/CT-NHNN dated January 20, 2025, the State Bank of Vietnam has proactively, flexibly, promptly, and effectively managed monetary policy since the beginning of the year, coordinating synchronously, harmoniously, and closely with fiscal policy and other policies. This has contributed to prioritizing and strongly promoting economic growth while maintaining macroeconomic stability, controlling inflation, and ensuring the major balances of the economy.

According to the Deputy Governor, the economy continues to maintain its growth momentum, with GDP increasing by 7.52% in the first six months of 2025, the highest growth rate for the first six months of the 2021-2025 period. Inflation is under control, averaging 3.27% in the first six months of 2025, in line with the National Assembly 's target. The monetary and foreign exchange markets remain stable.

“Credit growth has been positive since the beginning of the year, improving compared to the same period in 2024. As of July 29th, credit across the entire system increased by 9.8% compared to the end of 2024, and by 19.75% compared to the same period last year, both representing positive growth rates compared to recent years,” Deputy Governor Pham Thanh Ha emphasized.

Deposit interest rates continued to remain relatively stable, while lending interest rates continued to trend downwards compared to the end of 2024; credit institutions have published lending interest rate information on their bank websites to provide customers with additional information for reference when accessing loans.

Deputy Governor of the State Bank Pham Thanh Ha chaired the conference.

According to the Deputy Governor, interest rate developments are always closely monitored and directed by the Prime Minister . Recently, the Prime Minister instructed the State Bank of Vietnam to continue closely monitoring the stabilization of deposit interest rates and the reduction of lending interest rates by credit institutions, and to implement appropriate solutions.

Based on that, the State Bank of Vietnam organized a meeting with the system of credit institutions to instruct credit institutions and branches of foreign banks to stabilize deposit interest rates and reduce lending interest rates.

At the meeting, the State Bank of Vietnam requested credit institutions to strictly implement the directives of the Government, the Prime Minister, and the State Bank of Vietnam to stabilize deposit interest rates; continue to reduce operating costs, strengthen digital transformation, and be ready to share a portion of profits to reduce lending interest rates to support people and businesses in accessing bank credit and promoting economic development; ensure safe and effective credit growth, directing credit towards production and business sectors, priority sectors, and growth drivers; and strictly control credit in sectors with potential risks, ensuring safety and efficiency.

The State Bank of Vietnam will continue to closely monitor developments in deposit and lending interest rates, the publication of lending interest rates on the websites of credit institutions; and strengthen inspection, examination, and supervision of the implementation of policies and directives of the Government, the Prime Minister, and the State Bank of Vietnam regarding deposit and lending interest rates.

In its operations, the State Bank of Vietnam continues to closely monitor domestic and international market developments, is ready to provide liquidity support to facilitate credit institutions in supplying credit to the economy, and promptly implements appropriate monetary policy measures.

The State Bank of Vietnam requires credit institutions to immediately understand and implement the assigned tasks regarding stabilizing and reducing interest rates as directed by the Government, the Prime Minister, and the State Bank of Vietnam.

NEWS AND PHOTOS: HONG ANH

Source: https://nhandan.vn/giu-on-dinh-lai-suat-tien-gui-giam-lai-suat-cho-vay-post898543.html