started · updated
State Bank of Vietnam directs banks to reduce lending interest rates
The State Bank of Vietnam (SBV) has issued Document No. 9608/NHNN-CSTT, directing credit institutions to implement measures to reduce interest rates and support economic growth. Following instructions from Deputy Prime Minister Nguyen Van Thang, the SBV has requested that lending rates for production, business, and priority sectors be reduced by 1.5% to 2%.
To achieve this, the SBV instructed financial institutions to reduce costs and share profits. Specifically, listed deposit interest rates for terms of six months or longer must be adjusted downward by at least 0.5%. The central bank also prohibited unhealthy competition in raising deposit rates to ensure financial stability.
In response to these directives, several major banks have begun acting. Agribank announced it will reduce lending rates by up to 2% per year starting October 19, 2026, focusing on priority sectors and businesses. Agribank plans to allocate approximately 2,000 billion VND to help share capital costs for customers. Other major banks, including BIDV and Vietcombank, have also previously announced similar rate reductions.
Entities
Agribank · BIDV · Le Minh Hung · Ministry of Finance · Nguyen Van Thang · Ngân hàng Nhà nước Việt Nam · Pham Duc An · Phạm Đức Ấn · State Bank of Vietnam · To Lam · Vietcombank · Vietnam
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 8 SOURCES] SBV requires a reduction in lending interest rates of 1.5% to 2% for production, business, and priority sectors. thoibaonganhang.vn · thoibaotaichinhvietnam.vn · baohatinh.vn · baolaocai.vn · kenh14.vn · +3 more
- [● 2 SOURCES] SBV prohibits unhealthy competition in raising deposit interest rates to maintain financial security. thoibaonganhang.vn · thoibaotaichinhvietnam.vn
- [● 2 SOURCES] Credit institutions are instructed to share profits and reduce costs to lower interest rates. thoibaonganhang.vn · thoibaotaichinhvietnam.vn
- [● 2 SOURCES] SBV requires credit institutions to reduce listed deposit interest rates by at least 0.5% per year for terms of 6 months or more. thoibaonganhang.vn · thoibaotaichinhvietnam.vn
- [● 2 SOURCES] The State Bank of Vietnam issued Document No. 9608/NHNN-CSTT on October 18, 2026. thoibaonganhang.vn · thoibaotaichinhvietnam.vn
- [● 4 SOURCES] Deputy Prime Minister Nguyen Van Thang chaired a meeting regarding monetary policy management. baohatinh.vn · thanhnien.vn
- [● 5 SOURCES] Agribank plans to allocate approximately 2,000 billion VND to share capital costs. baolaocai.vn · kenh14.vn · soha.vn · baochinhphu.vn
- [● 5 SOURCES] Agribank will implement a program to reduce lending interest rates by up to 2% per year starting October 19. baolaocai.vn · kenh14.vn · soha.vn · baochinhphu.vn