They pointed out that đồng interest rates always have a close correlation with the value of the greenback. This might enable banks to steady and reduce first the deposit interest rates and then the lending interest rates. The central bank instructed credit institutions to seriously implement regulations and guidelines related on interest rates under its Directive No.01/CT-NHNN issued this year. Lowering the interest rates will become even more feasible if banks can recover their bad debts by themselves. A Vietinbank official said this year the lender would focus on settling bad debts, and buy back all the bad debts it had sold to the VAMC.

Source: Viet Nam News February 13, 2017 03:12 UTC