Agribank cuts deposit rates and lowers lending rates to support economic growth in line with the State Bank of Vietnam directives

On 9 April 2026, following a meeting of the State Bank of Vietnam on monetary policy operations, Agribank issued a notice to sharply reduce deposit rates by 0.5 percentage points per year for term deposits of 24 months and longer for individual customers, effective 13 April 2026. This move demonstrates policy responsiveness and a proactive stance by Agribank in implementing government and central bank directives to stabilise interest rates, balance funding, and control costs to contribute to monetary market stability. Not only did it reduce deposit rates, Agribank was the first bank to announce a cut in lending rates. Under Agribank’s mechanism, the 24-month deposit rate is used as the reference rate to determine mid- and long-term lending rates. Therefore, when the reference rate falls by 0.5% per year, lending rates adjust correspondingly by 0.5% per year. The simultaneous reduction in both deposit and lending rates shows Agribank’s effort to share funding costs with customers, especially as the economy still needs momentum for recovery and growth. In reality, this operating orientation had been prepared early. At the start of 2026, amid competition for deposit rates and rising liquidity pressures, Agribank implemented coordinated measures to proactively manage rates and capital structure in a cautious, flexible manner, ensuring liquidity stability and contributing to stable rates and supported credit growth. Specifically, Agribank focuses on funding sources that encourage CASA growth, prioritise sources with reasonable costs, develop digital-channel deposit products, and promote stable household deposits. The rate adjustments are implemented with appropriate margins, aligned with Government and the State Bank directives, and based on market developments and Agribank’s actual liquidity position. Thanks to prudent management of deposit rates, Agribank not only maintains stable funding but also ensures an efficient funding mix, keeps input costs at appropriate levels, thereby creating room to maintain lending rates at low levels to support the economy. This is an important factor helping Agribank continue to play its role alongside people and businesses in accessing credit for production and business activities. In addition to rate reductions, Agribank continues to implement numerous preferential lending programs in line with Government and State Bank directions, targeting production and business sectors, priority sectors, and customer groups in need of capital support. The synchronized implementation of rate and credit measures demonstrates that Agribank not only follows policy but also translates it into substantive, timely actions to stabilise the monetary market and support growth. In a context where the interest-rate environment remains under pressure, Agribank’s proactive deposit-rate cut, leadership in cutting lending rates by 0.5 percentage points, and continued favorable lending programs are clear evidence of the role of a leading state-owned commercial bank. Not only does it implement Government and State Bank directives, but it also shows leadership, guidance, and partnership with the economy through concrete, timely, and practical solutions.