Banking Association calls on members to agree to stabilize interest rates and control credit in risky areas.

On August 7, 2025, the Vietnam Banks Association issued Official Letter No. 423/HHNH-PLNV calling on member credit institutions (CIs) to join hands in implementing the direction of the State Bank of Vietnam (SBV) on applying interest rates and credit, focusing on stabilizing interest rates and reducing lending rates to support people and businesses.

Publicly and fully announce the average lending interest rate, as well as preferential credit programs on the credit institution's website to ensure transparency and help customers easily access credit.

Prioritize the allocation of credit capital to production and business sectors, priority sectors and drivers of economic growth, while strictly controlling credit to potentially risky sectors, to ensure credit growth targets go hand in hand with operational safety.

Closely coordinate with the Banking Association to promote communication work so that people and businesses can grasp the policies and products and services of credit institutions in order to meet the capital needs for production and business and use the products and services of credit institutions effectively.

At the regular online Government meeting in July with provinces and centrally run cities held on August 7, chaired by Prime Minister Pham Minh Chinh , Ms. Nguyen Thi Hong, Governor of the State Bank of Vietnam, said that up to now, the lending interest rate level has continued to decrease by about 0.4%/year compared to the end of 2024, showing flexible management efforts, supporting the reduction of financial costs for the economy.

However, the exchange rate is under considerable pressure, due to the dual impact of economic factors and market psychology. To date, the VND/USD exchange rate has increased by 2.9% compared to the end of 2024. In that context, the Governor said that if the pressure continues to increase sharply, the State Bank will consider not further reducing interest rates to avoid affecting exchange rate stability - thereby causing macroeconomic instability.

"We will closely monitor developments and set appropriate priorities for each stage, aiming towards the common goal of macroeconomic stability and supporting sustainable economic growth," Governor Nguyen Thi Hong affirmed.

Regarding credit, the State Bank said that system-wide credit in the first 7 months of the year increased by about 10% compared to the end of 2024 - a fairly high increase compared to 6% in the same period last year.

Concerned that credit is flowing strongly into real estate and securities, Governor Nguyen Thi Hong analyzed: The credit growth rate in these two sectors is indeed higher than the average, but that is consistent with the direction of removing difficulties for the real estate market. When the project is cleared of legal obstacles, the need for capital for implementation is inevitable.

In the securities sector, although the growth rate is high, the proportion only accounts for 1.5% of total outstanding loans, not causing systemic risks. The State Bank affirms that it is always closely monitoring safety indicators. The ratio of short-term capital used for medium- and long-term loans is still below the threshold of 30%. At the same time, it continuously directs credit institutions to balance capital according to maturity, ensuring system safety.

Source: https://baodautu.vn/hiep-hoi-ngan-hang-keu-goi-hoi-vien-dong-thuan-on-dinh-lai-suat-kiem-soat-tin-dung-vao-linh-vuc-rui-ro-d353677.html