Major banks in Vietnam may reduce their interest rates in response to a central bank call, while smaller lenders are still hesitant to take similar moves, the Dau Tu (Investment) newspaper reported, quoting several Vietnamese bankers.
Last week the State Bank of Vietnam asked banks to cut the interest rates for medium and long-term loans by 1.0-1.5 percentage point, the report said, citing a central bank directive.
Banks are charging medium and long-term loans in the Vietnamese dong at between 9.0 percent and 11 percent per annum now, while they pay 6.7-7.3 percent per year for dong deposits, according to the central bank.
NOTE: Reuters has not verified this story and does not vouch for its accuracy. (Compiled by Hanoi Newsroom; Editing by Gopakumar Warrier)