Implementing the directions of the Government and the Prime Minister on reducing the lending interest rates, and continuing to implement the tasks mentioned in Directive No. 01/CT-NHNN dated January 15, 2024 on the key tasks of the banking sector in 2024, on November 27, 2024, the State Bank of Vietnam (SBV) issued Document No. 9774/NHNN-CSTT requesting the credit institutions and the SBV municipal and provincial branches to strictly implement the measures aimed to stabilize the deposit interest rates, and put more efforts into reducing the lending interest rates.
Specifically, the SBV has requested the credit institutions to maintain a stable and appropriate level of the deposit interest rates in alignment with their capacity of capital balance, the ability to extend credit in a healthy manner, and the risk management capacity, contributing to stabilizing the money market and the common interest rates in the market;
The credit institutions and the SBV branches are also requested to continue to implement strongly and effectively the established solutions, simplify the lending procedures, enhance the application of IT and the digital transformation in the lending processes,… in order to reduce the lending interest rates to support the enterprises and the people, promoting their production and business activities, improving the accessibility to bank credit in line with the Government’s and the Prime Minister’s directions.
In addition, the credit institutions should also continue to proactively publicize their average lending interest rates, the lending interest rates applied to the credit support programs, the credit packages and other applicable lending interest rates on their websites.
The SBV municipal and provincial branches are requested to strictly direct the local credit institutions to maintain the stability of the deposit interest rates and implement possible solutions to reduce the common lending interest rates; proactively publicize the average lending interest rates and the credit packages with preferential interest rates (if any) to their customers in order to support the enterprises and the people to develop their production and business activities.
Closely monitor the interest rate developments in their areas; direct and supervise the local credit institutions and their branches in the implementation of the Government’s and the SBV’s policies on reducing the lending interest rates to support the enterprises and the people;
Strengthen the communication on the policies and the directions of the Government, the Prime Minister, and the SBV for the active implementation of the credit institutions, and for the clear knowledge and easy access of the people and the enterprises in their respective areas.
Le Hang