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The deposit and lending rate environment has become a key concern for shareholders at the 2026 annual general meeting as banks report rising funding costs in early 2026 amid liquidity pressures and new reserve requirements.
At VPBank’s annual general meeting on 22 April 2026, CEO Nguyen Duc Vinh said funding costs rose in Q1 mainly due to system-wide liquidity pressure. He added that new rules, including mandatory reserve requirements, also increase banks’ cost of funds.
Nguyen Duc Vinh warned that the high-rate trend could persist in the near term, before cooling from late Q2 into early Q3 2026. He said there are positive signs that commercial banks have reached consensus to cut lending rates following discussions with the State Bank of Vietnam.
“Rates may move sideways for a period and then gradually fall, enabling lower lending costs to support production and business.”
The article also referenced Sacombank and SHB, focusing on liquidity conditions and lending growth.
At SHB, Ngô Thu Hà said net interest income fell at times due to policy, but growth continued through prudent credit expansion. By Q1, SHB’s deposits were up 4.5% and lending was up 2.15%, with liquidity ratios controlled to maintain flexibility for rate management.
Overall, the 2026 outlook suggests that the interest-rate environment will remain challenging for banks as they balance liquidity needs and credit growth while working to lower rates for enterprises. The narrative highlights a “dual challenge” for lenders: ensuring liquidity and credit growth while supporting the real economy by easing borrowing costs.
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