The State Bank of Vietnam has instructed its regional branches to check how commercial bank branches are implementing the central bank's directive to lower interest rate levels, after monitoring showed that some commercial banks had still increased rates. Regional branch directors have been told to convene meetings with local commercial bank branches and require them to comply strictly with the Governor's April 2026 instruction on reducing interest rates. Regional branches were also told to urgently carry out earlier instructions on inspecting interest rate reductions at commercial bank branches in their areas. If violations are found during the inspections, they must be handled within the branches' authority and reported immediately to the State Bank of Vietnam. The central bank said it will continue to closely monitor deposit and lending rates, as well as the publication of lending rates on credit institutions' websites, while stepping up inspection and supervision and remaining ready to support liquidity in the banking system through appropriate monetary policy measures.
State Bank of Vietnam2026-05-22
State Bank of Vietnam orders regional inspections of banks' interest rate cuts after some lenders raised rates
The State Bank of Vietnam has instructed its regional branches to inspect how commercial bank branches are implementing the Governor’s April 2026 directive to reduce interest rates, after monitoring showed some banks had increased rates. Regional directors must convene meetings with local banks, enforce compliance, address violations within their authority, and report them to the central bank, which will continue to monitor deposit and lending rates and stand ready to support system liquidity through monetary policy measures.