Vietnam

Ngân hàng đồng loạt tăng kịch trần lãi suất tiền gửi kỳ hạn ngắn

Dantri | Local Language | News | Dec. 11, 2025 | UndeterminedFinancial System Problems

At the start of December 2025, numerous commercial banks raised short-term savings interest rates (under 6 months) to the regulatory ceiling of 4.75% per year, continuing a trend of rate hikes that began in September. This move aims to attract capital amid mounting liquidity pressures as the year ends. Several banks, including Sacombank, Ban Viet Commercial Bank, Orient Commercial Bank, National Citizen Bank, and Nam A Bank, have increased rates to the maximum allowed for short-term deposits, while some also offer attractive rates of around 6% per year for longer-term deposits.

The rate increases are widespread across joint-stock commercial banks and reflect intensified competition to mobilize funds. Earlier in November, institutions like VIB, MBBank, and ABBANK also had adjusted their interest rates to the ceiling for terms from one to five months, signaling an active race to attract deposits in the fourth quarter. The primary driver is the banks’ need to meet rising capital demands at year-end and close the gap between deposit growth and lending.

Liquidity pressures this year are significantly higher compared to previous years due to several factors. These include a persistent mismatch between credit growth and deposit mobilization, with credit demand rising sharply and creating a gap of up to 3%. Public investment disbursement pressures have spread beyond state-owned banks to joint-stock banks, and there is added pressure from exchange rate fluctuations. Credit growth reached 15% in October 2025 and is expected to hit 18–20% by year-end, surpassing the State Bank of Vietnam’s target of 16%. Banks are therefore compelled to increase deposit rates, even at higher capital costs, to maintain funding levels aligned with credit disbursement.

On November 1, 2024, the Governor of the State Bank of Vietnam issued Decision No. 2411/QĐ-NHNN, enforcing maximum interest rates on VND deposits effective November 20, 2024. This regulation caps interest rates for deposits under six months at 4.75% per year, while demand deposits remain at 0.5%. People's Credit Funds and microfinance organizations are permitted to offer higher rates up to 5.25% per year. These regulatory limits have shaped the current rise in short-term deposit rates to the ceiling among commercial banks.

Vietnam News | English | News | Dec. 11, 2025 | UndeterminedTrade Issues and Numbers

Vietnam’s foreign trade is expected to surpass US$900 billion in 2025, positioning the country among the world’s top 15 trading nations. In the first 11 months of the year, the total import-export value reached nearly US$840 billion, marking a 17.2 percent increase compared to the previous year.

Exports during this period exceeded US$430 billion, up 16.1 percent, while imports reached US$409.6 billion, reflecting an 18.4 percent rise. Despite global trade difficulties, Vietnam maintained a trade surplus of over US$20.5 billion.

The year 2025 marks a record for Vietnam’s export performance and signals the country’s rise as a major global trading economy. The rapid growth in trade volume indicates an accelerated trading pace that surpasses typical economic cycles.

"Trải thảm đỏ" đón doanh nghiệp FDI lên sàn chứng khoán

Dantri | Local Language | News | Dec. 11, 2025 | UndeterminedBizdev-Partnering

On December 9, the State Securities Commission (SSC) held a conference to introduce regulations on listing and registration for economic organizations with foreign direct investment (FDI) in Vietnam. The SSC emphasized its commitment to removing obstacles to channel FDI capital onto the stock market.

SSC Chair Vũ Thị Chân Phương highlighted the Vietnamese stock market’s transition to a new development phase that demands deeper transformation and alignment with international standards. She stressed the strategic importance of FDI enterprises joining listed exchanges, expecting their participation to boost offering quality, increase investor choices, and help rebalance industry group proportions on the market.

The SSC has consulted with ministries and the government to address legal bottlenecks and pledged full support for enterprises to standardize documentation and access Vietnam’s capital market. This push coincides with Vietnam’s recent upgrade by FTSE Russell from a frontier to a secondary emerging market, a status that enhances the country's appeal to international financial institutions.

During the conference, FDI business representatives raised technical challenges related to IPOs and listings, including the conversion process to joint-stock companies, regulations on foreign ownership limits, legal frameworks for issuing securities like bonds, audit report requirements on contributed charter capital, and rules on independent valuation reports in registration documents.