According to the State Bank of Vietnam (SBV), by September 16, credit growth of the banking industry reached 4.81 percent. Although the State Bank of Vietnam has recently raised the credit growth limit for some effective credit institutions capable of expanding healthy credit into sectors serving economic growth, general credit in the banking system is still growing sluggishly.

State Bank of Vietnam (SBV) has just announced the reduction of a series of operating rates from October 1. 

The results of the survey on the business situation of enterprises in August this year by the Ho Chi Minh City Union of Business Association show that 40 percent of enterprises said that there are still many difficulties in recovering production and business activities after the Covid- 19 pandemic, 44 percent still face difficulties, 9 percent have started to overcome difficulties, and 5 percent have returned to a normal operational state.

Although the Covid-19 pandemic still negatively affected Vietnam’s stock market, as well as many countries around the world, Vietnam's stock market is recovering with good liquidity, showing that many positive factors have appeared.

To support enterprises and borrowers affected by the Covid-19 pandemic, banks have simultaneously cut their interest rates by 0.5-2.5 percent per annum for loan packages.

Besides supporting customers affected by the Covid-19 pandemic, commercial banks also introduced several support packages with interest rates lower than usual interest rates by 0.5 to 3 percent per annum, worth around VND250 trillion (US$10.66 billion), for both corporate and individual customers to stimulate credit demand.

The recent sharp interest rate cut of the State Bank of Vietnam (SBV) is said to be in time and will affect positively enterprises but these impacts are in the medium and long term.

After the State Bank of Vietnam adjusted the ceiling of the mobilizing interest rates in Vietnamese dong for terms below six months, on March 18, commercial banks also simultaneously cut mobilizing interest rates for below-six-month terms.

The price of gold in Vietnam recovered on March 16 after declining consecutively in many previous days.

With declining interest rates and loosened monetary policy, investors expected that the Vietnam’s stock market will prosper in the last quarter of this year and might prolong to the first quarter of next year.