Official Dispatch No. 1628/NHNN-CSTT dated March 06, 2024 on disclosure of lending interest rates

To:

- Credit institutions;
- Foreign bank branches.

According to reports of credit institutions and foreign bank branches (hereinafter referred to as "credit institutions"), which were submitted under Official Dispatch No. 1117/NHNN-CSTT dated 07/02/2024 of State Bank of Vietnam (SBV) on reporting disclosure of interest rates, the credit institutions have disclosed lending interest rates as requested by the Prime Minister and SBV. However, certain credit institutions have not fully disclosed their lending interest rates. In order to ensure uniform and effective disclosure of interest rates, SBV hereby requests credit institutions to:

1. Continue disclosing average lending interest rates, differences between average deposit interest rates and average lending interest rates under credit programs and credit packages, and other lending interest rates (if any) as requested by the Prime Minister in Official Telegram No. 18/CD-TTg dated 05/3/2024 on 2024's credit growth regulation, Notification No. 527/TB-VPCP dated 18/12/2023 regarding the verdict of the Prime Minister at the Convention for solutions to overcome difficulties in credit growth for businesses, promoting growth and macroeconomic stability, and as requested by SBV in Official Dispatch No. 9759/NHNN-TD dated 21/12/2023, Directive No. 01/CT-NHNN dated 15/01/2024, and Official Dispatch No. 1117/NHNN-CSTT dated 07/02/2024.

2. Take responsibility for the adequacy, punctuality and accuracy of information and figures disclosed on their websites; provide coherent explanation about the disclosed information and figures; receive and respond to enquiries from their customers (if any). Every credit institution (the Board of Directors, Executive Board, Board of Controllers, Conformity Department, Internal Audit Department and relevant departments) shall frequently supervise conformity with instructions of the Prime Minister and SBV.

3. Send the links to the pages where their interest rates mentioned in paragraph 1 of this Official Dispatch are disclosed to SBV (at the email address: [email protected]) before April 1^st 2024; any changes to these links must be informed to SBV within 02 working days. Call 024.38246952 for further information.

Credit institutions and foreign bank branches shall strictly comply with the instructions in this document./.

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PP GOVERNOR
DEPUTY GOVERNOR




Pham Thanh Ha