The banking sector in Vietnam has reaffirmed its position as the backbone of the economy by strengthening strategic partnerships with business actors. Deputy Governor of the State Bank of Vietnam (SBV), Nguyen Ngoc Canh, stated that synergy between the government and the private sector is key to mobilizing resources, creating jobs, and accelerating national economic development.
As a concrete step, the SBV continues to pursue a flexible monetary policy path by maintaining macroeconomic stability and controlling inflation. Throughout the first half of 2026, the monetary authority consistently directed commercial banks to lower interest rates to ease capital cost burdens for businesses. As of late May 2026, over 40 banks responded by lowering deposit interest rates as an initial market adjustment step.
In addition to interest rate policies, the SBV implemented regulatory reforms through Circular No. 25/2026/TT-NHNN, increasing the maximum ratio of short-term capital used for medium- and long-term loans from 30% to 40%. This adjustment is specifically aimed at supporting companies undertaking large-scale infrastructure projects and national strategic projects, thereby supporting the double-digit economic growth target.
Operational-wise, banks are now adopting digital technology and 'sandbox' mechanisms to facilitate credit assessments. Data as of June 2026 shows that total outstanding credit has surpassed 19.9 million VND, with 92.6% disbursed to the private sector. High priority remains focused on agriculture, fisheries, forestry, as well as supporting industries and startups based on digital innovation and green solutions.
The State Bank of Vietnam also reiterated its commitment to cutting bureaucratic hurdles in credit access. Ms. Pham Thi Thanh Tung, Deputy Director of SBV's Credit Department, emphasized that commercial banks impeding capital disbursement to eligible businesses will be held directly accountable to the Governor of the State Bank of Vietnam. This decisive measure was taken to ensure smooth cash flow for export sectors and other productive enterprises.
