State Bank of Vietnam requests to continue reducing loan interest rates, strengthen supervision...

The State Bank has just requested credit institutions to share part of their profits to reduce lending interest rates and support people and businesses in accessing credit capital more conveniently.

The State Bank has just requested credit institutions to share a portion of their profits to reduce lending interest rates, helping people and businesses access credit more easily. At the same time, this agency also affirmed that it will continue to closely monitor the publication of lending interest rates on the websites of each credit institution.

On August 4, 2025, the State Bank held a meeting with the entire credit institution system to thoroughly implement the instructions from the Government and the Prime Minister on stabilizing deposit interest rates and continuing to reduce lending interest rates. The meeting was attended by credit institutions, foreign bank branches and representatives of relevant units.

At the meeting, the State Bank emphasized the need for credit institutions to strictly implement the direction of stabilizing the mobilization interest rate level, while actively reducing operating costs, promoting digital transformation, and being willing to share part of the profits to lower lending interest rates. The goal is to create conditions for people and businesses to easily access credit capital, thereby promoting production and business, contributing to sustainable economic growth.

The State Bank also requires credit growth to be safe and effective, focusing on production and business sectors, priority sectors and growth drivers. In addition, credit institutions need to strictly control credit in potentially risky sectors to ensure the safety of the financial system and macroeconomic stability.

The monetary authority affirmed that it will continue to closely monitor the developments of deposit and lending interest rates, especially the announcement of lending interest rates on the official websites of credit institutions. At the same time, inspection, examination and supervision will be strengthened to ensure compliance with policies and instructions from the Government , the Prime Minister and the State Bank on interest rates.

Regarding management orientation, the State Bank said it will continue to closely follow developments in the domestic and international markets, ready to provide reasonable liquidity to support the credit institution system to ensure capital flow for the economy, and promptly adjust monetary policy in accordance with practical requirements.

Previously, the Government adjusted the GDP growth target for 2025 to between 8.3 and 8.5 percent. In the context of the economy heavily dependent on bank credit, monetary policy is identified as a key management tool to realize the set growth target.

The State Bank has just asked credit institutions to share part of their profits to reduce lending interest rates, helping people and businesses access credit more easily.

Deputy Governor of the State Bank Pham Thanh Ha said that in the first six months of 2025, GDP growth reached 7.52 percent, the highest increase since 2021. Inflation was well controlled, averaging 3.27 percent in the first half of the year, in line with the target approved by the National Assembly. The monetary and foreign exchange markets were basically stable, and credit across the system tended to increase positively from the beginning of the year and improved significantly compared to the same period in 2024.

As of July 29, 2025, system-wide credit increased by 9.8 percent compared to the end of 2024 and increased by 19.75 percent over the same period last year, a positive increase in the context of many existing macroeconomic pressures.

Deposit interest rates continue to be stable, lending interest rates continue to decrease compared to the end of 2024. Credit institutions have made lending interest rates public on official information pages so that people and businesses can access and refer to them when they need to borrow capital.

The Deputy Governor also noted that the developments in deposit and lending interest rates are being closely monitored and specifically directed by the Prime Minister. Based on that direction, the State Bank has held a meeting with credit institutions to continue to thoroughly implement the stabilization of input interest rates and strive to further reduce lending interest rates. This is one of the key solutions to support production recovery, stimulate consumption and promote economic growth in the final period of the year.

Mr. Pham Chi Quang, Director of the Monetary Policy Department of the State Bank, said that recently, some commercial banks have adjusted their interest rates upward. Immediately after that, the State Bank conducted inspections to grasp the reality and ensure that banks comply with the general direction.

Currently, the average deposit interest rate for new loans is 4.18 percent per year, unchanged from 2024. Meanwhile, the average lending interest rate is currently at 6.53 percent per year, down 0.4 percentage points from the end of last year.

Regarding credit growth targets, on July 31, the State Bank officially adjusted the growth limit for a number of credit institutions. At the same time, it required increasing credit flows into production and business sectors, prioritizing sectors with high potential for spillover and strictly controlling credit into risky sectors, especially real estate.

At the same time, banks need to create more favorable conditions for people and businesses to access capital with simplified, transparent and quick procedures.

According to the research team of UOB Bank, in the short term, the State Bank of Vietnam is unlikely to adjust the operating interest rates for the Vietnamese Dong. However, the management agency is still closely monitoring domestic macroeconomic developments, fluctuations in USD interest rates in the international market and the impact of new tariff policies that will take effect from August 1.

The research team also forecasts that in case the US Federal Reserve (Fed) cuts interest rates at its September meeting and the trend of lowering USD interest rates becomes more evident in the fourth quarter of this year and early next year, the State Bank of Vietnam may adjust VND interest rates down by about 0.5 percent to support growth.

Source: https://baolamdong.vn/nhnn-yeu-cau-tiep-tuc-giam-lai-vay-tang-cuong-giam-sat-viec-cong-khai-lai-suat-386363.html