Central bank requests that credit institutions make lending interest rates public

The State Bank of Vietnam (SBV) has required that credit institutions make public their average lending interest rates following a directive from the Prime Minister.

They are also requested to make public the difference between deposit and lending interest rates and interest rates in credit programs and packages.

They must provide links to the publication of interest rates to the SBV before April 1.

The central bank said most credit institutions publicize their lending interest rates, while some are still in the process of preparing to do so.

In a Directive issued on March 5 to strengthen the management of credit growth in 2024, Prime Minister Pham Minh Chinh asked that the banking sector make public average lending interest rates at credit institutions.

He also asked the SBV to continue cutting lending rates and enhance access to credit to support businesses and individuals.