Lending interest rates down 0.96% compared to the end of 2023

The information was announced by the State Bank of Vietnam (SBV) at the Conference on Deploying Banking Tasks in 2025 held on the morning of December 14 in Hanoi .

Specifically, in interest rate management, the State Bank continues to maintain the operating interest rates in the context of world interest rates remaining at high levels, creating conditions for credit institutions to access capital from the State Bank at low costs, thereby supporting the economy . Credit institutions are directed to reduce operating costs to strive to reduce lending interest rates.

As a result of these efforts, the lending interest rate has continued to decrease by about 0.96% per year compared to the end of 2023.

Also according to information at the conference, to facilitate credit institutions to provide credit capital for the economy, on December 31, 2023, the State Bank assigned all credit growth targets for 2024 to credit institutions and publicly announced the determination principles so that these institutions can proactively implement credit growth.

As of December 13, credit in the entire economy increased by about 12.5% compared to the end of 2023, 2.5% lower than the target set for 2024 (15%).

Conference on Deploying Banking Industry Tasks in 2025.

The State Bank also believes that the monetary policy management of this agency has contributed to stabilizing the macro-economy, controlling inflation, supporting liquidity for credit institutions, and stabilizing the monetary and foreign exchange markets.

The exchange rate is also managed flexibly and appropriately by the State Bank, contributing to absorbing external shocks. The foreign exchange market remains stable, foreign exchange liquidity is smooth, the economy's foreign exchange needs are fully met; the exchange rate moves flexibly in both directions, increasing/decreasing, in accordance with market conditions.

In addition, the State Bank continues to direct credit institutions to step up the implementation of credit programs such as: The VND 120,000 billion program for loans for social housing, workers' housing, apartment renovation and reconstruction projects; implementing solutions to support customers affected by storm No. 3; handling and controlling the price difference between SJC gold bars and world gold prices within an appropriate range...

In the coming time, the State Bank will continue to closely monitor market developments and the domestic and foreign economic situation to proactively, flexibly, promptly and effectively manage monetary policy, closely and harmoniously coordinate with fiscal policy to support economic growth priorities, promote production and business, contribute to stabilizing the macro economy and controlling inflation.

Cong Hieu

Source: https://vtcnews.vn/lai-suat-cho-vay-giam-0-96-so-voi-cuoi-nam-2023-ar913612.html