This information was announced at the press conference on banking performance results for the first 6 months of 2025 held by the State Bank on the morning of July 8.
Interest rate level decreased
Deputy Governor of the State Bank Pham Thanh Ha said that in the first months of the year, the global economy grew slowly, affected by many factors, including rapidly changing tariff policies and increasing geopolitical tensions.
Early this morning, Vietnam time, the US announced a 25-40% tax rate on 14 countries, effective from August 1, and warned that it would increase taxes if these countries retaliate, showing that the global economy will remain uncertain in the coming period.
Although inflation has cooled down to the target level, there is still a risk of it rising again. Thus, the potential risks in the global financial, monetary and commodity markets are very large…
On that basis, the State Bank proactively, flexibly and synchronously operates monetary policy tools, closely coordinated with fiscal policy and other macroeconomic policies.
formation, the State Bank continues to maintain operating interest rates to create conditions for credit institutions to access capital from the State Bank at low costs, thereby creating conditions to support the economy.
At the same time, the State Bank directed credit institutions to reduce operating costs, increase the application of information technology, digital transformation and other solutions to strive to lower lending interest rates...
As a result, the lending interest rate level continues to decrease, the average lending interest rate for new transactions of commercial banks is at 6.29%/year, down 0.64%/year compared to the end of 2024.
Regarding exchange rates, during periods when the market is under great international pressure, the State Bank sells foreign currency intervention to credit institutions to support market liquidity, serve the foreign currency needs of the economy, contribute to stabilizing the macro economy and controlling inflation; create room for exchange rates to have flexible conditions, contributing to absorbing external shocks.
Thanks to that, the foreign exchange market remains stable, foreign exchange liquidity is smooth, the economy's foreign exchange needs are fully met; exchange rates fluctuate flexibly in both directions, in accordance with market conditions.
The credit structure is suitable for the economic structure, meeting the credit needs of people and businesses. Credit institutions have actively disbursed for credit programs under the direction of the Government and the Prime Minister , such as: The credit program for the forestry and fishery sector has increased its scale from 15,000 billion VND to 100,000 billion VND; The credit program supports the linkage of production, processing and consumption of 1 million hectares of high-quality and low-emission rice in the Mekong Delta. It is estimated that by the end of June, the cumulative loan turnover of the Program will reach about 5,200 billion VND.
Some other programs such as social housing loans; loans for young people under 35 years old to buy, rent, or hire-purchase social housing, a VND500,000 billion credit program for businesses investing in infrastructure, digital technology, policy credit programs, etc. are also being implemented.
"Cool down" gold prices
Regarding gold market management, Deputy Governor Pham Thanh Ha said that in the first months of 2025, due to many objective factors, world gold prices continuously broke records.
Domestically, the price of SJC gold bars moves in the same direction as the world price. With the synchronous solutions of the State Bank and the active coordination of the authorities, by early April 2025, the difference between the domestic price of SJC gold bars and the world price of gold has been controlled within a suitable range.
The restructuring of the credit institution system continues to be promoted, the stability and safety of the credit institution system continues to be maintained, and the legitimate rights of depositors are guaranteed.
Bad debt is focused on handling and controlling in the context of economic difficulties, affecting the ability of businesses to repay debts.
One of the activities that has also been promoted in recent times is that the legal framework and policies in payment activities continue to be improved, promoting digital transformation and cashless payments, meeting the payment needs of people and businesses, contributing to the development of the country's economy.
The diverse digital ecosystem has brought many attractive utilities to users; to date, most basic banking services have been implemented on digital channels, with many banks achieving a rate of over 95% of transactions performed on digital channels.
In the first 5 months of 2025, non-cash payment transactions increased by 45.44% in quantity and 25.21% in value; via the internet channel increased by 46.09% in quantity and 34.46% in value compared to the same period in 2024. Measures to ensure security and safety in payment activities have been strengthened.
As of June 13, the banking industry had more than 117 million customer profiles (CIF) that were biometrically verified via chip-embedded CCCD or VneID, reaching nearly 100% of the total number of individual payment accounts generating transactions on digital channels; more than 927 thousand organizational customer profiles had biometric information verified, reaching more than 70% of the total number of organizational payment accounts generating transactions on digital channels.
Source: https://hanoimoi.vn/tang-truong-tin-dung-trong-6-thang-dau-nam-cao-nhat-ke-tu-nam-2023-den-nay-708381.html
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