SBV Deputy Governor Dao Minh Tu emphasised the banking sector’s ongoing commitment to boosting credit growth, especially for production, business activities, and high-impact sectors like transport, electricity, and digital infrastructure.

SBV Deputy Governor Dao Minh Tu speaking at the meeting.

He noted that banks have already financed key projects such as power plants, transmission lines, and airports.

At the Government’s request, the SBV is developing a preferential credit package worth 500 trillion VND (around 20 billion USD) to support businesses in these fields.

The SBV previously held a technical meeting with commercial banks to discuss the programme’s framework and today’s session further refined implementation strategies.

Banks agreed on the importance of the initiative. For instance, Vietcombank has financed major projects like the Lao Cai–Vinh Yen transmission line and Long Thanh International Airport.

CEO Le Quang Vinh stressed that in addition to loans, mechanisms for equity participation and benefit sharing should be considered to better support tech innovation.

Agribank also expressed readiness to provide preferential interest rates but emphasised the need for clear lending responsibilities. Banks also called for mechanisms to restructure debt and reduce fees for clients affected by new US tax policies.

Deputy Governor Tu urged swift and effective rollout, balancing credit risk with support goals. He clarified the funds will come from commercial banks, with state-owned banks taking the lead.

Loans must meet credit standards but will enjoy preferential rates, co-financing options, and extended terms. Disbursement is planned until 2030 or until funds are exhausted.

Banks are also tasked with promoting the programme widely and reporting progress quarterly to the SBV.

PM works with joint stock commercial banks on solutions to boost socio-economic growth

Prime Minister Pham Minh Chinh on September 21 chaired a meeting between Cabinet members and leaders of 13 joint stock commercial banks to seek measures to promote national socio-economic development.

Deposit interest rates edge up as banks gear for rising loan demand

More than 10 banks have increased their deposit interest rates by 0.1-0.9 percentage points in the last month, with the highest now for a 12-month period being 6.2%.

Bank loan interest rates down nearly 1 point this year

Banks’ average lending interest rate was 8.3% as of the end of June, down 0.96 percentage points for the year, according to the State Bank of Vietnam.

Banks raise deposit interest rates

Some 20 banks have hiked their deposit interest rates by 0.1-0.9 percentage points in the last month, with the highest for 12-month deposits now being 5.9%.

Central bank works on protecting banking service users

The State Bank of Vietnam (SBV) will research and amend regulations on safety and security in online banking service provision to better protect customers, an SBV official said on July 4.

Deposits at Vietnamese banks reach record high of 628 billion USD

Despite low interest rates, bank deposits have reached a new historic peak of 16 quadrillion VND (628.5 billion USD) as of the end of March, according to the latest data from the central bank.