Vietnamese banks have lowered their deposit interest rates further in a move designed to boost lending to shore up growth in the economy, local media reported on Friday.
The country’s four biggest lenders, including state-run Agribank and partly-privatized BIDV, Vietcombank and Vietinbank, cut their interest rates between 0.2 and 0.3 percentage points on Vietnamese dong deposits with maturities ranging from 6 months to one year, reports Xinhua news agency.
Vietcombank cut the interest rates for 6-month and 9-month deposits to 5.8 per cent and one-year to 7.2 per cent, according to a statement on its website.
Read More : Vietnamese Banks Slash Deposit Rates in Effort to Stimulate Economic Growth