On April 9, 2026, the State Bank of Vietnam (SBV) held a meeting to deploy banking work under the chairmanship of SBV Governor Pham Duc An.
Attending the meeting were Deputy Governors of the SBV; representatives of leaders of units, departments, and agencies of the SBV; Chairmen of the Board of Directors/Members' Council, General Directors, and Deputy General Directors of commercial banks (CBs).
Providing information at the meeting, Mr. Pham Chi Quang - Director of the Monetary Policy Department (SBV) said that in the first 3 months of the year, the State Bank of Vietnam has managed monetary policy proactively and flexibly, contributing to macroeconomic stability, inflation control and growth support.
The operating agency has flexibly deployed open market operations, closely following market developments and policy objectives; implemented daily bidding for valuable papers with appropriate volumes and terms to support liquidity and stabilize the monetary market. At the same time, manage exchange rates and foreign exchange markets in accordance with market conditions, proactively absorb shocks; coordinate synchronously monetary policy tools, including foreign currency intervention sales, thereby contributing to stabilizing the foreign exchange market, controlling inflation and maintaining macroeconomic stability.
Regarding credit, the State Bank closely follows the direction of the Government and the Prime Minister, assigning a credit growth target of about 15% for credit institutions. At the same time, it requires strict control of capital flows into potentially risky sectors, especially real estate; orienting credit into production and business and priority sectors, growth drivers, suitable to risk management capacity, thereby limiting bad debts and ensuring system safety.
The State Bank continues to maintain the operating interest rates, creating conditions for credit institutions to access low-cost capital sources, supporting the economy.
Representatives of the SBV said that recently, the international situation has been developing complicatedly and unpredictably, escalating geopolitical and military tensions in the Middle East region have caused oil prices to rise, creating pressure on inflation in countries, while the large domestic capital demand to achieve economic growth targets has posed many challenges for monetary policy management and banking operations.
Regarding capital mobilization and lending, there is a situation where some commercial banks compete in capital mobilization, thereby pushing up the general level of deposit and lending interest rates. To deploy banking work, the SBV has organized a meeting with commercial banks to thoroughly grasp the directions of the Government, the Prime Minister and the SBV.
At the meeting, commercial banks agreed and highly agreed in implementing the policy of the Government, the Prime Minister and the SBV in striving to reduce the market interest rate level to support businesses and people. Accordingly, commercial banks committed to agreeing to reduce deposit interest rates and lending interest rates after this meeting.
In the coming time, the SBV will continue to closely monitor the developments of deposit and lending interest rates, the announcement of lending interest rates on the bank's electronic information page and have appropriate monetary policy management solutions, ready to support liquidity for commercial banks.
At the same time, strengthen inspection, examination, and supervision of the bank's implementation of the policies and directions of the Government, the Prime Minister and the SBV on deposit and lending interest rates; strictly handle violations in capital mobilization and credit granting activities of commercial banks.
