After meeting with the Governor, ABBank cuts deposit rates by 0.5 percentage points per year across multiple maturities

ABBank announced a reduction in deposit interest rates across multiple maturities on the afternoon of April 9, 2026, following directions from the Government and the State Bank of Vietnam (SBV).

Immediately after a meeting between the SBV Governor and credit institutions on the afternoon of April 9, ABBank implemented a cut of 0.5 percentage points per year in deposit rates across multiple tenors.

SBV meeting and policy direction

It was reported that on the afternoon of April 9, 2026, in Hanoi, the SBV held a banking task-force meeting chaired by SBV Governor Pham Duc An.

SBV said recent international conditions have been complex and unpredictable. It cited geopolitical tensions in the Middle East that have pushed oil prices higher, creating inflationary pressures in many countries. Domestically, funding demand to meet growth objectives has posed challenges for monetary policy management and banking operations.

SBV also noted that, in mobilizing funds and lending, some joint-stock banks have competed in deposit mobilization, pushing up both deposit and lending rates. To implement banking work, the SBV held meetings with banks to consolidate directives from the Government, the Prime Minister, and the SBV.

At the meeting, banks reached high consensus on supporting the Government’s and Prime Minister’s policy, together with the SBV’s direction, to reduce market interest rates to support enterprises and households. Accordingly, banks committed to jointly reducing deposit rates and lending rates following the meeting.

ABBank’s rationale and next steps

An ABBank representative said the bank closely follows SBV guidance, proactively managing its interest-rate policy to balance operating efficiency with responsibility to support customers. The bank said the move is intended to help optimize funding costs, with a view to lowering lending rates and making borrowing more affordable for individuals and businesses.

Looking ahead, ABBank said it will continue monitoring market developments, adjust interest rate policy flexibly and appropriately, and improve product and service quality to deliver greater value to customers.

SBV’s follow-up measures

In the coming period, SBV said it will continue to closely monitor movements in deposit and lending rates, publish lending rates on banks’ websites, and use appropriate monetary policy tools. SBV also said it will be ready to provide liquidity support to banks, strengthen inspection, auditing, and supervision of banks’ compliance with government directives on deposit and lending rates, and strictly handle violations related to mobilizing funds and granting credit.