Governor of the State Bank of Vietnam (SBV) Nguyen Thi Hong has directed banks to continually reduce input costs with an aim to cut loan interest rates.
The liquidity of the whole banking system has remained good, Governor of the State Bank of Vietnam (SBV) Nguyen Thi Hong has said.
Increasing deposit interest rates is in line with the general trend, ensuring liquidity safety and capital mobilisation for the economy, Deputy Governor of the State Bank of Vietnam (SBV) Pham Thanh Ha has said.
Experts forecast that bank net interest margins (NIM) will decline as inflation rises next month.
Thanks to increases in savings interest rates, deposits at banks increased strongly in the first two months of this year after declining last year.
The deposit growth rate of individual customers at banks slowed last year due to the impacts of the pandemic.
Many banks have increased their interest rates to attract more depositors after getting a credit growth quota expansion from the State Bank of Vietnam (SBV).
Deposit interest rates at commercial banks will continue to decrease and remain at low levels in the coming months, analysts forecast.
The State Bank of Vietnam (SBV) will keep the current deposit interest rates and lending rates unchanged until the end of this year to ensure the banking system’s liquidity and benefits for depositors.
Many businesses suggested more detailed policies should be issued to help them access bank loans as there remain difficulties in lending.