Several banks swiftly lowered deposit interest rates last week, paving the way for reductions in lending rates in the near future to bolster businesses and fuel recovery.

The State Bank of Vietnam is tightening control over interest rates, requiring banks to lower lending costs while cracking down on unfair financial competition.

Hanoi’s drizzle and humidity continue, but a cold front may bring relief. Check the latest Vietnam weather forecast for March 3, 2025.

Several commercial banks have started reducing deposit interest rates by 0.1 to 0.4 percentage points in response to the Prime Minister’s direction to lower rates to help achieve the Government’s 8% growth target in 2025.

SBV Deputy Governor Dao Minh Tu stated that an average credit growth of over 2% would contribute to a 1% increase in the country's GDP.

Leading banks in Vietnam, including Vietcombank, Agribank, and BIDV, propose a special lending mechanism to accelerate loan approvals for large-scale national projects, boost investment, and enhance economic growth.

Vietnam’s commercial banks respond to the government’s call to stabilize deposit interest rates and lower lending rates, ensuring economic growth and inflation control.

The reduction is due to two mergers and termination of three departments.

The State Bank of Việt Nam (SBV) suggested that the establishment of digital banks should be postponed to January 1, 2027.

An economist said the approach helps ensure that businesses have access to affordable capital, which in turn supports job creation and economic recovery.

Prime Minister Pham Minh Chinh has issued an official dispatch calling for intensified efforts to lower lending rates to support businesses and spur economic growth.

As the 2025 annual shareholders' meeting season is approaching, Vietnamese banks are unveiling optimistic profit targets on the expectation of strong economic growth and credit recovery.

Experts forecast that this year, banks will race to increase their charter capital in order to improve capital adequacy ratios and meet the capital needs for high credit growth.

NCB’s charter capital surged from VNĐ5.6 trillion to VNĐ11.78 trillion, while Techcombank’s charter capital increased sharply from more than VNĐ35.2 trillion to nearly VNĐ70.66 trillion.

DongA Commercial Joint Stock Bank (DongA Bank) has changed its name to Vikki Digital Bank Limited (Vikki Bank) following Decision No. 42/QĐ-TTGSNH2 issued by the State Bank of Vietnam (SBV) on February 14, 2025.

Despite an increase of nearly 5,500 employees across the banking sector in 2024, several banks, including Sacombank and BIDV, have implemented significant layoffs.

Group 5 non-performing loans (NPLs) at most listed banks in Vietnam have surged sharply as shown in the fourth-quarter 2024 financial reports. Only three banks reported a decline in Group-5 bad debts in 2024.

Techcombank employees make nearly USD 2,000 per month on average, while some smaller banks pay less than USD 800.

Vietnam’s banking sector reached new heights in 2024 as 26 banks reported total customer deposits exceeding $507 billion, marking a 12.89% increase from the previous year.

More than 87% of Vietnam’s adult population now hold payment accounts at banks while many credit institutions are processing more than 95% of transactions through digital channels.