B · Normal
[Vietnam’s central bank requires lending institutions to cut interest rates to support economic growth] On October 18, the State Bank of Vietnam has ordered commercial lending institutions to cut lending rates for manufacturing and key industries by 1.5 to 2 percentage points to support economic growth. Banks are also required to cut interest rates on deposits with maturities of six months and above by at least 0.5 percentage points. The central bank also asked lenders to take further steps to manage non-performing loans and ensure the safety of the banking system.
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