[REVISION HISTORY]

Vietnam banks H1-Q4 2026: Growth, liquidity, and rate shifts

41 recorded revisions of this situation.

What changed

2026-10-29 04:33 UTC → 2026-11-01 04:21 UTC · added ~~removed~~

Vietnam’s banking sector maintained strong momentum through much of 2026, characterized by record deposits and significant asset expansion. By June, total deposits reached 17.44 quadrillion VND. In September 2026, the State Bank of Vietnam (SBV) intervened to support the system after overnight interbank interest rates surged to 7% per annum, injecting nearly 48 trillion VND through repurchase agreements. Following this intervention, interbank liquidity improved. By early October, overnight rates dropped to between 0.72% and 0.99% per annum. ~~However,~~ To address a disconnect ~~emerged~~ between ~~these~~ low interbank rates and ~~the higher costs faced by businesses. While~~ high business costs, the SBV ~~mandated substantive reductions in rates via~~ issued Official Dispatch No. ~~9736/NHNN-CSTT,~~ 9736/NHNN-CSTT. This directive mandates that commercial banks reduce average deposit rates ~~remained high~~ for terms of six months or longer by at ~~some institutions, with some promotional rates reaching as high as 9.6%~~ least 0.5% per ~~annum. By late October, 12-month savings~~ year compared to rates ~~showed significant variation: MBV, PGBank, Sacombank, VCBNeo,~~ reported between October 11 and ~~VIB offered up to 7%, while~~ October 20, 2026. The SBV warned that non-compliance could result in penalties, such as the ~~‘Big 4’ state-owned banks maintained 6.8%.~~ reduction of credit growth quotas. In ~~response to SBV directives, commercial banks began implementing~~ response, VIB launched a 15 trillion VND credit package with rate ~~cuts~~ reductions of up to ~~support priority sectors. Agribank’s Ha Tinh II branch adjusted rates~~ 1.5% per year, Sacombank introduced a 20 trillion VND preferential package for ~~over 12,000 loans,~~ individuals with ~~some reductions reaching 2.5%~~ cuts of 1.5% to 2% per year, ~~while VPBank~~ and ~~Sacombank launched~~ Techcombank announced 40 trillion VND in programs ~~to reduce lending rates by 1.5%~~ offering up to 2% reductions for ~~specific industries~~ production and ~~individuals. By mid-to-late October,~~ commerce businesses. Addressing the National Assembly, SBV ~~intensified its directive, instructing credit institutions to reduce listed deposit rates by at least 0.5% per year~~ Governor Pham Duc An noted that short-term deposits account for ~~terms~~ approximately 80% of ~~six months or longer. Banks were also encouraged~~ total system deposits. He stated these funds remain stable due to frequent rollovers and that mobilizing short-term capital helps banks maintain lower ~~lending rates for priority sectors by 1.5%~~ costs to ~~2% per year. Major institutions including Vietcombank, VietinBank, LPBank, and MB began implementing these adjustments. LPBank, for instance, reduced~~ reduce lending ~~rates by up to 2% for new short-term business disbursements, while MB implemented 1.5%~~ rates. The SBV is also collaborating with SME associations to ~~2% cuts for five priority sectors.~~ improve credit accessibility and transparency.

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