State Bank requests to reduce lending interest rates

On November 27th, the State Bank of Vietnam issued a document on stabilizing deposit interest rates and striving to reduce lending interest rates to support businesses and individuals.

The State Bank of Vietnam (SBV) has just issued công văn (official letter) No. 9774/NHNN-CSTT requesting credit institutions and branches of foreign banks to maintain stable interest rates. Photo: SBV.

The State Bank of Vietnam (SBV) has just issued công văn (official letter) No. 9774/NHNN-CSTT, requiring credit institutions and branches of foreign banks to maintain stable deposit interest rates. At the same time, these entities must implement measures to strive to reduce lending interest rates, supporting businesses and individuals in accessing capital at lower costs.

For credit institutions, the State Bank of Vietnam emphasizes the need to maintain stable and appropriate deposit interest rates, ensuring a balance of capital sources and increasing the capacity to expand credit. In addition, these institutions must promote the application of digital technology and simplify lending procedures to reduce operating costs, thereby supporting lower lending interest rates. Furthermore, transparency of information on interest rates and preferential credit programs on official information platforms is also a key requirement.

Regarding the local branches of the State Bank of Vietnam, their assigned tasks include closely monitoring interest rates in their areas and directing credit institutions to implement interest rate reductions on loans. At the same time, they need to strengthen communication to ensure that people and businesses can easily understand preferential policies and access credit in a transparent and effective manner.

Through these synchronized solutions, the State Bank of Vietnam aims to support production and business, promote economic growth, and alleviate financial difficulties for businesses and individuals. This is a necessary step to stabilize the macroeconomy and create momentum for sustainable development in the current context.

Source: https://baoquangninh.vn/ngan-hang-nha-nuoc-yeu-cau-giam-lai-suat-cho-vay-3331752.html