Vietnam banking sector sees liquidity shifts and retail awards

Vietnam's banking sector is experiencing significant shifts in liquidity and interest rates. The State Bank of Vietnam has intervened to support the system after overnight interbank interest rates surged to 7% per annum. To manage liquidity, the central bank has utilized open market operations, injecting nearly 48 trillion VND through repurchase agreements and opening a foreign exchange swap channel with a maximum scale of 2 billion USD.

Regarding consumer trends, individual payment deposits reached approximately 1.22 quadrillion VND by the end of Q2 2026. While this represents a slight increase from the start of the year, it remains lower than the levels seen in 2025. However, the number of individual payment accounts continues to grow rapidly, reaching 256.7 million by late June 2026.

In the retail sector, HDBank became the first Vietnamese bank to be named ‘Asia’s Best Retail Bank’ by Euromoney, also receiving awards for being the best retail and SME bank in Vietnam. Meanwhile, deposit interest rates across the country show significant variation; for 12-month terms, ACB offers the highest rate at 7.8% per annum, while major state-owned banks like Vietcombank and BIDV maintain rates around 6.8% per annum.