SBV Orders Rate Inspections at Banks as Credit Tops 19 Quadrillion VND
Updated
Updated · Nhan Dan Online · Jun 16
SBV Orders Rate Inspections at Banks as Credit Tops 19 Quadrillion VND
1 articles · Updated · Nhan Dan Online · Jun 16
Summary
May 21 directives from the State Bank of Vietnam ordered intensified inspections and strict penalties for banks whose deposit or lending rates exceed market averages, with regional branches now conducting targeted reviews.
Credit outstanding has climbed above 19 quadrillion VND while deposits remain below 18 quadrillion VND, tightening liquidity and prompting some banks to offer 8-9% annual rates on large or long-term deposits.
The SBV said it has countered the pressure by injecting liquidity through open-market operations, extending loan tenors to as long as two months and using FX swaps to supply dong funding.
Household deposits reached a record 10.38 quadrillion VND by end-January, up about 46 trillion VND from year-end, as savers favored bank deposits over volatile property, stock and gold markets.
Economists and business representatives said lower rates alone will not sustain growth, arguing Vietnam also needs easier SME credit access, stronger capital markets and closer fiscal-monetary coordination.
As new US tariffs loom and foreign reserves dwindle, can Vietnam's central bank avert a full-blown currency crisis?
Vietnamese households are saving record amounts of cash, so why is the nation's economy facing a critical investment shortfall?
SBV’s 2026 Regulatory Crackdown: Managing 15% Credit Growth, Real Estate Risks, and Banking Sector Liquidity
Overview
In June 2026, the State Bank of Vietnam (SBV) intensified its oversight of commercial banks due to growing financial stability concerns. This move was driven by a clear imbalance between rapid credit growth and slower deposit mobilization, which forced banks to raise deposit rates sharply—sometimes up to 9% or higher. These elevated rates signaled liquidity pressures and posed risks to the stability of the financial system. By tightening regulation and focusing on prudent interest rate management, the SBV aims to create a more balanced and sustainable economic environment while addressing the underlying vulnerabilities in Vietnam’s banking sector.