On April 9, 2026, in Hanoi, under the chair of Governor Pham Duc An, the State Bank of Vietnam (SBV) held a meeting to implement the key tasks of the banking sector.
SBV Governor Pham Duc An speaks at the meeting
Attendees included SBV Deputy Governors; representatives of the SBV Departments and units; and Chairpersons of the Boards of Directors/Boards of Members, General Directors, and Deputy General Directors of commercial banks.
At the meeting, Mr. Pham Chi Quang, Director General of the Monetary Policy Department, informed that during the first quarter of 2026, the SBV had conducted monetary policy in a proactive and flexible manner, contributing to macroeconomic stability, inflation control, and economic growth support. He highlighted that the global economy has recently faced unprecedented developments, particularly escalating geopolitical and military tensions in the Middle East, which have driven up oil prices and increased inflationary pressures in many countries.
Domestically, demand for capital remains high to meet economic growth targets, posing significant challenges for monetary policy management and banking operations. Regarding capital mobilization and lending, competition among commercial banks has led to rising deposit and lending interest rates.
To effectively implement the key tasks of the banking sector, the SBV convened this meeting with commercial banks to disseminate and reinforce the directives of the Government, the Prime Minister, and the SBV.
Mr. Pham Chi Quang, Director General of the Monetary Policy Department, speaks at the meeting
At the meeting, commercial banks expressed their strong consensus and commitment to implement the directives of the Government, the Prime Minister and the SBV, particularly in efforts to reduce market interest rates to support businesses and individuals. Accordingly, commercial banks committed to lowering both deposit and lending interest rates following the meeting.
Overview of the meeting
In the coming period, the SBV will continue to closely monitor developments in deposit and lending interest rates, including the public disclosure of lending rates on banks’ websites. The SBV will also implement appropriate monetary policy measures, stand ready to provide liquidity support to commercial banks, and strengthen inspection and supervision of compliance with relevant policies and directives. Violations in deposit mobilization and credit extension activities will be strictly handled.