HCMC – Lending rates have continued to ease, supported by stable deposit rates and ample liquidity in the banking system, according to the Ministry of Finance.

As of October 10, the average lending rate for new loans at commercial banks stood at 6.55% per year, down 0.38 percentage point from the end of last year, the Vietnam News Agency reported. Average deposit rates remained unchanged at 4.22% per year over the same period. Bank interest rates for terms above one month had inched up 0.11 to 0.37 percentage point as of October 31, reflecting short-term liquidity needs but still within a manageable range. The ministry said the trend highlights the central bank’s flexible monetary management amid uncertainties in domestic and global financial markets. In late July, the State Bank of Vietnam (SBV) raised this year’s credit growth limits for banks to ensure capital flows to priority sectors such as manufacturing and business activities. Credit demand has picked up. As of October 28, total outstanding loans in the banking system rose 14.77% from the end of last year and 20.69% year-on-year, indicating a clearer recovery in capital absorption across the economy. The SBV has rolled out several large-scale credit programs to support production, social welfare, and prioritized sectors. The credit package for agriculture, forestry, and fisheries was expanded from VND15 trillion to VND100 trillion. By the end of June, commercial banks had disbursed nearly VND106 trillion to 28,333 borrowers, surpassing the program’s target ahead of schedule. A separate VND500 trillion credit program for enterprises investing in infrastructure and digital technology has also been launched, with funds ready for disbursement through commercial banks.