Amid increasingly complex global economic conditions, rising pressure from exchange rates, inflation and liquidity constraints, Viet Nam’s banking sector faces a difficult balancing act: safeguarding financial system stability while maintaining interest rates at levels that support businesses and economic growth. The State Bank of Viet Nam (SBV) has therefore implemented a range of measures to curb upward pressure on interest rates at some credit institutions.

Following the central bank’s direction, nearly 20 commercial banks have lowered both deposit and lending rates over the past week, with cuts ranging from 0.1 to 1 percentage point.

Bank deposit interest rates have remained relatively stable since the start of the year, while lending rates continue to fall, according to a statement by the State Bank of Viet Nam on July 22.

According to the General Statistics Office under the Ministry of Finance, the mobilization interest rate and lending interest rate levels maintained a downward trend, the exchange rate was actively and flexibly managed, contributing to stabilizing the macro economy; the insurance market grew stably, and the stock market improved thanks to the gradual recovery of the economy.