Average lending interest rate in November reduced 0.28 percent to 9.3 percent per year. ACB offered a rate of 9.26 percent per year for long-term loans, the lowest level in the whole banking system (Source: VNA)
Hanoi (VNA) - Average lending interest rate in November reduced 0.28 percent to 9.3 percent per year, t꧙he highest slide for the past nine months.
According to a survey of HCM City Securities Corporation (HSC), under the November survey on deposit and lending interest rates, the average lending rate this year cut by 0.74 percent against January.
According to the survey, ACB offered a rate of 9.26 percent per year for long-term loans, the lowest level in the whole banking system. Meanwhile, the lowest rate for short-term loans listed at banks was 7.5 percent.
In November, Vietinbank cut its lending rate between 0.5 percent and 1.5 percent per year in many terms while the rate at Vietcombank and Techcombank was also reduced 0.5 percent.
The declining trend was also seen in Techcombank with a slight reduction of 0.04 percent for short-term loans and 0.21 percent for medium- and long-term loans.
Eximbank cut the rate of 0.25 percent for short-term loans but increased it by 0.5 percent for long-term loans.
However, some other lenders such as Sacombank and Dong A Bank raised their lending rates between 0.1 percent and 0.4 percent per year.
In contrast to the reduction in lending rate, average deposit rate inched up 0.03 percent per year in November to 5.86 percent, after remaining stable at 5.83 percent in the previous two months.
However, the average deposit rate for the past 11 months reduced 0.18 percent.
In November, some banks including Vietinbank, ACB and Eximbank increased the rate for short-term deposits between 0.1 percent and 0.3 percent per year.
Some smaller banks such as Maritime Bank, Dong A, and OCB increased their medium- and long-term deposits between 0.1 percent and 0.7 percent per year, besides a raise of between 0.1 percent and 0.2 percent for short-term deposits.
However, in the month, BIDV inched down its deposit rate by 0.1 percent per year for three, six and 18 month terms.
According to HSC, the lending interest rate reduction is good news for businesses but it is bad for banks as it will reduce their profits.
However, HSC also forecast that it could be a temporary trend at year-end as it would make it difficult for the deposit rate to remain as low as it is currently.
The company also anticipated that both deposit and lending rates would inch up 0.5 percent per year in 2016.-VNA
The total payment means by December 19 rose by 15.65 percent, while credit rose by 11.8 percent against late last year, announced the State Bank of Viet Nam (SBV).
Three-year bonds were sold out, while the sales of bonds with longer terms were unsatisfactory during an auction on the Hanoi Stock Exchange last week.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
The zone will cover 1,881 ha, comprising functional areas for production, logistics, trade and services, digital technology industry, information technology, and innovation.
Dung underlined several key objectives, including a comprehensive review of the legal framework governing SOEs, and called for updates that reflect international standards and support modern, transparent governance.
While the US market has become more difficult to access due to new tax policies, Australia could play the role of a trade cushion, helping to reduce shocks and maintain export momentum for Vietnam's shrimp industry.
Vietnam Cycle Expo 2025 will coincide with the Vietnam Sport Show 2025, an international exhibition on sports and outdoor entertainment, expected to attract more than 20,000 visitors in the three-day event.
Despite global economic uncertainties, Binh Duong has maintained strong momentum in both exports and industrial production during the first half of 2025.
Average lending interest rate in November reduced 0.28 percent to 9.3 percent per year. ACB offered a rate of 9.26 percent per year for long-term loans, the lowest level in the whole banking system (Source: VNA)
