VCBNEO

Over 20 Vietnamese commercial banks, led by major state-owned and private institutions, have simultaneously reduced deposit rates by up to 0.5% per annum, following a directive from the State Bank of Vietnam (SBV) on April 9. This coordinated move is expected to pave the way for a broader reduction in lending rates, with early movers like Agribank and Nam A Bank already cutting loan rates by 0.5-3.0% to support economic recovery.