Banks continue to make efforts to reduce interest rates

(NLDO)- That was the information at the press conference to inform about the banking performance results in the third quarter of 2025 organized by the State Bank of Vietnam (SBV) on the morning of October 3.

Average loan interest rate 6.52%/year

Chairing the press conference, Deputy Governor Pham Thanh Ha said that credit growth in the months of 2025 was higher than the same period in 2024 and maintained a higher growth momentum each month than the previous month. By September 29, credit in the economy increased by 13.37% compared to the end of 2024. The credit structure continued to focus on the production and business sector, especially priority sectors and growth drivers according to the Government's policy.

Deputy Governor Pham Thanh Ha chaired the press conference.

Inflation was well controlled and in line with the set target, with an average of 3.25% for the first 8 months; core inflation was 3.19% - lower than general inflation, contributing to macroeconomic stability - in the context of the world and regional economies remaining unstable.

The credit program for the agriculture, forestry and fishery sector, with an initial scale of VND15,000 billion in 2023, was increased to VND185,000 billion on September 23.

Regarding the program for lending to social housing, workers' housing, renovation and reconstruction of old apartments according to Resolution 33/NQ-CP, by July 31, banks had committed to lending more than VND 8,600 billion, the disbursement turnover of the Program reached VND 4,577.8 billion (an increase of VND 1,733.2 billion compared to the end of 2024).

In the first 9 months of the year, the State Bank continued to maintain low operating interest rates; at the same time, it guided the market to reduce lending interest rates by requiring commercial banks to cut all operating costs. Up to now, lending interest rates have continued to decline. The average interest rate for new loans is currently at 6.52%/year, down about 0.41% compared to 2024.

Deputy Governor Pham Thanh Ha said that in the final months of the year, the State Bank of Vietnam will continue to operate monetary policy proactively, flexibly, promptly, effectively, synchronously, harmoniously, and closely with fiscal policy and other policies, contributing to prioritizing economic growth while stabilizing the macro-economy and controlling inflation.

In particular, closely monitor the situation to manage interest rates in accordance with market developments, macroeconomics, inflation and monetary policy targets. Continue to direct credit institutions to reduce operating costs, increase the application of information technology, digital transformation and other solutions to reduce lending interest rates.

Directing credit to production and business sectors, priority sectors, and economic growth drivers according to the policies of the Government and the Prime Minister ; strictly controlling credit in potentially risky sectors; focusing on credit investment in key and feasible projects and works, green credit, and credit serving the development of regional and local strengths. Continuing to implement the Project on restructuring the system of credit institutions associated with handling bad debt in the period 2021-2025...

Highest credit growth in 15 years

According to Mr. Pham Chi Quang, Director of the Monetary Policy Department, thanks to the support of technology, since 2022, the banking industry has made efforts to cut costs, including streamlining personnel. These efforts aim to reduce operating costs, thereby reducing lending interest rates for businesses and people.

Mr. Pham Chi Quang, Director of Monetary Policy Department, answered reporters' questions.

This agency continuously reviews commercial banks to ensure that the banking sector always supports the economy, ensuring that inflation does not increase (well controlled and in line with the set target, the average for 8 months is 3.25%; core inflation is 3.19%).

As of September 29, 2025, the total outstanding debt of the entire economy is estimated at 17.4 million billion VND, an increase of 13.37% compared to the end of 2024. This is the highest 9-month credit growth rate in the past 15 years.

The above credit growth rate means that banks have disbursed net loans to the economy of nearly 2.1 million billion VND after 9 months, equivalent to an average of over 230,000 billion VND/month. Mr. Pham Chi Quang forecasts that with this credit growth rate, credit growth this year could reach 19-20%, also the highest increase in the past 15 years.

Banks support people and businesses to overcome the consequences of storm No. 10

According to Deputy Governor Pham Thanh Ha, in order to promptly support people and businesses to overcome difficulties, the State Bank of Vietnam has just issued Document No. 8622/NHNN-TD dated October 2, directing the implementation of solutions to support people and businesses to restore production and business after Storm No. 10.

Accordingly, credit institutions must review and evaluate the situation of borrowers to promptly propose measures to resolve difficulties, such as: restructuring debt repayment terms, waiving interest rates, and continuing to provide new loans to restore production. Cases with serious losses will be considered for debt settlement according to current regulations on agricultural and rural credit and the mechanism for handling risky debt.

The State Bank also requested branches in the regions to act as focal points to direct credit institutions in the area to urgently deploy support, and coordinate with the government and departments and branches to advise on solutions to help people and businesses overcome the consequences of natural disasters.

Source: https://nld.com.vn/ngan-hang-tiep-tuc-no-luc-giam-lai-suat-196251003101944921.htm