On August 4, 2025, the State Bank of Vietnam (SBV) issued Official Dispatch No. 6781/NHNN-CSTT requesting the banking system to implement solutions in a serious and effective manner to maintain the stability of the deposit interest rates and reduce the lending interest rates in order to promote the economic growth in 2025 in accordance with the directions of the Government and the Prime Minister, specifically as follows:
For the credit institutions
- Seriously implementing the directions of the SBV Governor in Directive No. 01/CT-NHNN dated January 20, 2025 on the implementation of the key tasks of the banking sector in 2025 in order to contribute to maintaining the stability of the macro economy, controlling the inflation, and achieving the growth target of 8% or higher in 2025.
- Implementing solutions to maintain the stability and strive to reduce the deposit interest rates to help stabilize the money market, reducing the lending interest rates in accordance with the directions of the Government, the Prime Minister, and the SBV.
- Continuing to implement more strongly and effectively the request of the Government, the Prime Minister and the SBV to cut down on their operational costs, enhance the application of information technology and other measures aimed at reducing the lending interest rates, supporting the people and businesses to access bank credit with low interest rates, and boosting the production growth.
- Ensuring the credit growth in a safe and effective manner, prioritizing the credit capital for the production and business sectors, the priority sectors and the economic growth drivers; strictly controlling credit for the sectors with potential risks.
- Strengthening the communication and instructing customers on the loan interest rate reduction policies, promptly and fully publicizing information so that their customers can access the policies of the credit institutions.
For the SBV regional branches
- Directing the credit institutions to maintain the stability of the deposit interest rates, and seriously implement the measures to strive to reduce the lending interest rates; continuing to strictly implement the information dissemination on the lending interest rates and the preferential interest rate credit programs (if any) to create favorable conditions for customers in accessing the information.
- Strengthening the monitoring of the developments in the deposit interest rates and the lending interest rates in their areas; directing the inspection and supervision of the credit institutions and the branches of the credit institutions in their areas in implementing the policies of the Government, the Prime Minister and the SBV on maintaining the stability of the deposit interest rates and reducing the lending interest rates.
- Proactively implementing the communication activities on the policies and directions of the Government, the Prime Minister, and the SBV, so that the credit institutions can actively implement the solutions for reducing the lending interest rates, enabling the people and businesses to easily understand and access these solutions.
The SBV will closely follow the developments in the deposit and lending interest rates, as well as the disclosure of the lending interest rates on the credit institutions’ websites; strengthening the inspection and supervision of the implementation by the credit institutions in accordance with policies and directions of the Government, the Prime Minister, and the SBV on the deposit and lending interest rates.
HY