The fourth cut in a row of regulatory interest rates by the State Bank of Vietnam (SBV) has provided an opportunity for commercial banks to reduce interest rates, thus attracting borrowers.

Credit growth since the start of 2023 remains low, Deputy Governor of the State Bank of Vietnam (SBV) Dao Minh Tu said, blaming that fact on both subjective and objective causes.

The State Bank of Vietnam (SBV) and relevant ministries are currently implementing a series of solutions aiming to increase the capital absorption of the economy amid low credit growth.

The State Bank of Vietnam (SBV) has delivered cuts to its policy rate three times in less than three months, each time of 50 basis points, to assist the country’s economic growth via the credit channel.

Though deposit interest rates listed at commercial banks have decreased rapidly after the State Bank of Vietnam's (SBV) policy rate cut, savings of individual customers have kept rising.

Governor of the State Bank of Vietnam (SBV) Nguyen Thi Hong provided explanations regarding the high lending rates and credit room management during a plenary session of the 15th National Assembly’s ongoing fifth meeting in Hanoi on June 1.

The State Bank of Vietnam (SBV) has requested banks, branches of foreign banks, and providers of intermediary payment services to take steps to continue promoting cashless payment and the implementation of the national digital transformation programme.

Measures must be taken to bring down bank interest rates, said the State Bank of Vietnam (SBV) at a meeting with CEOs from 26 commercial banks in the country on May 25.

The State Bank of Vietnam (SBV) has announced two decisions to further reduce policy interest rates, which will become effective from May 25, 2023.

Vietnam's banking sector has invested over VND15,000 trillion in digital transformation by the end of 2022, according to the State Bank of Vietnam (SBV).