Vietnam banking sector faces credit growth and interest rate shifts

Vietnam's banking sector is experiencing significant shifts in interest rates and credit dynamics. As of July 2026, credit growth is outpacing capital mobilization, creating a widening gap between available funds and the high demand for capital. Total system assets reached approximately 22.6 quadrillion VND by the end of Q2 2026, a 20% increase year-on-year.

Interest rate trends show notable volatility. While some regions like Ha Tinh saw lending rates drop by 1.66–2.23 percentage points in August, other banks reported rising average lending rates in July. GPBank recorded the highest average lending rate at 11.34%, while institutions like LPBank, Saigonbank, and ACB maintained rates below 10%.

Major commercial banks are seeing varied growth. BIDV leads in lending scale, followed by VietinBank and Vietcombank. Private banks such as MB, VPBank, and Techcombank have also shown strong credit expansion. Meanwhile, retail digital banks like Cake by VPBank are utilizing promotional interest rates to attract new savers.