Banks roll out lower cost credit to boost businesses and priority sectors
Banks are stepping up lending rate cuts and rolling out large preferential credit packages signalling stronger efforts to ease borrowing costs and support businesses and economic growth
On August 12, several banks reduced their lending rates by 0.5-1% for both individual and corporate customers. Nam A Bank decreased rates for individual customers seeking loans for production, business, and agriculture by 0.5-0.7%, while home loans and consumer loans saw reductions of 0.1-0.3%. Corporate lending rates were cut by 0.5% across the bank.
Nam A Bank is also providing a $1 billion credit package with rates 1-1.8% below listed rates, targeting key sectors like agriculture, forestry, fisheries, infrastructure, digital technology, seafood, and fruit exports. BVBank launched a $100 million preferential lending package for SMEs, with rates at least 1% below market levels.
NCB cut lending rates by 0.5% for all customers, with individual rates starting at 8.49% and SME rates at 10% initially. Agribank announced a $2.8 billion preferential credit program starting in August 2026, with rates 1-2% below average for priority sectors. BIDV and VietinBank each announced $2 billion credit packages starting in August 2026, with rates 1% below regular rates. These measures aim to support businesses and households in optimizing operating costs.
Written by urgent.news from Vietnam Investment Review's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
