HANOI – August 7, 2025 – The Vietnam Banks Association (VNBA) has issued a directive to its member credit institutions (CIs) to collectively implement measures aimed at stabilizing deposit interest rates and reducing lending interest rates to support economic recovery and growth. This call to action follows a meeting convened by the State Bank of Vietnam (SBV) on August 4, 2025, to discuss solutions for stabilizing deposit interest rates and exploring further reductions in lending rates for individuals and businesses.
In the first half of 2025, the CIs successfully adhered to the directives of the government and the SBV, which resulted in a stable deposit interest rate and reduced lending rates. These efforts have been instrumental in helping individuals and businesses access capital, contributing to a positive economic recovery, with GDP reaching 7.52% in the first six months of the year—the highest level between 2011 and 2025.
To achieve the 2025 GDP growth target of over 8%, the VNBA urges the CIs to take the following coordinated actions:
- Stabilize Deposit and Reduce Lending Rates: CIs are called upon to collaborate closely to stabilize deposit interest rates across all terms. By accelerating digital transformation and implementing reasonable cost-saving measures, CIs can create room to reduce lending interest rates. Based on their financial capacity, CIs should consider lowering lending rates and offering appropriate credit programs to help individuals and businesses access capital at a reasonable cost.
- Enhance Transparency: To ensure transparency and improve customer access to credit, CIs must publicly and fully disclose their average lending interest rates and any preferential credit programs on their official websites.
- Prioritize Capital Allocation: CIs should prioritize allocating credit capital to business and production sectors, key priority areas, and other economic growth drivers. At the same time, CIs must strictly control credit in potentially high-risk areas to ensure that credit growth aligns with operational safety targets.
- Strengthen Communication: CIs are encouraged to work with the VNBA's permanent Office to enhance communication efforts. This will ensure that individuals and businesses are well-informed about the CIs’ policies and services, helping them effectively meet their capital needs for production and business activities.
The VNBA will report any difficulties or issues encountered during the implementation process to the SBV for timely support.
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