At a 30 May conference, the State Bank of Vietnam's Region 6 branch implemented the Governor's direction on lowering interest rates and instructed 143 commercial bank branches in Hai Phong and Quang Ninh to continue cutting operating costs and rebalancing funding to create room to reduce deposit and lending rates. Banks were also told to direct credit to production and business activity, priority sectors and other economic growth drivers, and to strengthen bank-business links to ease access to credit. The review of banking activity in the first five months of 2026 found local operations broadly stable, with deposits, credit and payment services growing, liquidity maintained and credit quality broadly controlled, but said the decline in lending rates had so far been modest. Region 6 highlighted continuing credit quality risks, especially in household business lending, and the need for stronger governance and internal controls at some institutions. The regional branch said it will intensify supervision and inspections of compliance with interest rate rules and implementation of the Governor's instructions, and will promptly rectify and strictly handle violations.
State Bank of Vietnam2026-06-03
State Bank of Vietnam Region 6 directs banks in Hai Phong and Quang Ninh to step up interest rate cuts
The State Bank of Vietnam’s Region 6 branch instructed 143 commercial bank branches in Hai Phong and Quang Ninh to cut operating costs, rebalance funding and reduce deposit and lending rates, while directing credit toward production, priority sectors and key growth drivers. A review of the first five months of 2026 found stable operations but modest lending rate declines and highlighted credit quality risks, particularly in household business lending, and governance weaknesses. Region 6 will intensify supervision of interest rate compliance and strictly address violations.