Singapore’s banks are expanding their presence in Vietnam to seize opportunities from the market’s increasing integration into Asian trade and surging corporate financing needs.

Deposit interest rates have continued to cool, with 42 banks cutting rates by 0.1-0.5 percentage points since the State Bank of Vietnam (SBV) Governor met commercial banks in early April 2026.

VOV.VN - Vietnamese Prime Minister Le Minh Hung met with President of the Asian Development Bank Masato Kanda in Cebu, the Philippines, on May 7 to discuss development cooperation, green transition and regional connectivity.

Vietnam's banking sector is stepping up digital transformation, expanding cashless payments, strengthening system security, and promoting inclusive digital financial services to better serve people and businesses.

VOV.VN - The Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) and Gaw Capital Partners, a multi-asset investment firm, on April 29 signed a Memorandum of Understanding (MoU), marking a new milestone in their strategic partnership.

As financial fraud and online scams become increasingly sophisticated, Vietnamese banks are tightening transaction controls and deploying digital tools to detect risks earlier and better protect customers.​

Vietnam has rolled out a cross-border QR payment service with the Republic of Korea (RoK), marking a new step in financial connectivity between the two countries and supporting growing tourism and trade flows.

The State Bank of Vietnam (SBV) has granted a licence for the establishment of a wholly foreign-owned bank to the Industrial Bank of Korea (IBK), marking a new step forward in attracting international financial investment and expanding the presence of Korean financial institutions in Vietnam.

VOV.VN - Vietnam has been recognised among the world’s top five performers in the Human Capital Index Plus (HCI+) 2026 by the World Bank, highlighting the country’s strong outcomes in education, healthcare and workforce development.

Credit in the first quarter of 2026 surged by 3.18% against late last year to VND19.18 quadrillion (US$730 billion), supporting Vietnam’s GDP growth of 7.83%, Pham Thanh Ha, deputy governor of the State Bank of Vietnam (SBV), said at an event on April 14.