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Several banks have begun lowering lending interest rates, a move aimed at widening access to capital and supporting credit growth. The development follows deposit rates that have already fallen at nearly 30 banks, creating room for lenders to reduce funding costs.
In the context of deposit rates adjusting lower, some credit institutions have started to actively cut lending rates. Alongside rate reductions, several banks have introduced preferential credit packages targeting manufacturing, processing, and export-oriented sectors, with reductions of about 1% per year.
Some lenders are also reforming filing procedures and shortening processing times, which is intended to improve borrowers’ access to credit.
Capital is being directed toward areas expected to generate value and support economic growth. While the rate-cut trend is not yet widespread, it is expected to create spillover effects that gradually improve conditions for businesses and households to obtain loans at reasonable costs.
According to Pham Chi Quang, Director of the Monetary Policy Department at the State Bank of Vietnam, the spillover effect from deposit rate cuts will gradually create conditions for banks to lower lending rates in the future. He noted that, despite challenges, the banking system still has room to adjust.
As of the end of Q1/2026, credit across the entire system continued to grow. Outstanding loans exceeded 19.18 quadrillion dong, up more than 3% compared with the end of the previous year.
Credit flows are being channeled to production and business activities, priority areas, and key growth drivers, contributing to the economy’s recovery. Government-directed credit programs also recorded positive changes:
The trend of capital shifting toward sustainability has become clearer. Green credit continued to expand, reaching nearly 780,000 billion dong by the end of 2025, up more than 14% from the previous year.
Overall, credit flows appear to be “unlocked” in a selective manner—supporting growth while maintaining system safety.
With deposit rates having cooled, lenders are forming room to reduce funding costs, which can lay the foundation for deeper lending-rate cuts in the future. Even as global economic uncertainty persists, the challenge remains balancing macro stability with growth. The article concludes that, with consistent policy direction and proactive banks, capital is expected to continue playing a key role in supporting Vietnam’s economic growth in 2026.
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