Credit within the banking system to the end of May 2024 increased by only 2.41% against the end of 2023, far from the credit growth target, the Government reported.

Deposits of individual customers at banks have increased again since February this year, after declining in January, the latest statistics from the State Bank of Vietnam (SBV) showed.

Commercial joint stock banks have continued to lower deposit interest rates since the middle of this month, a move that is expected to help reduce lending rates and support businesses.

The race to lure demand deposits, or current account savings account (CASA), among banks seems to be decelerating as it is more difficult for them to attract the cheap capital source in the context of high interest rates on term savings.

The race to lure deposits among banks is becoming fiercer as more customers are selected medium- and long-term savings to get higher interest rates.

Deposits at all banks, including the Saigon Commercial Bank (SCB), are guaranteed by the State in all cases, Governor of the State Bank of Vietnam (SBV) Nguyen Thi Hong affirmed on October 10 when talking to the media regarding recent issues related to the SCB.

Singapore is witnessing a jump in deposits in local banks, which reflects investors' risk aversion and inflows from other markets, including Hong Kong (China), said Bloomberg Intelligence.

Commercial banks continued to cut deposit rates on September 19 after the State bank revised down benchmark rates.

The Vietnam Bank for Agriculture and Rural Development (Agribank) has been recently named in the top 500 strongest banks (AB500) in Asia-Pacific by the Asian Banker.

Outstanding loans of commercial banks in HCM City in the first nine months of 2017 rose 13.5 percent against December last year to more than73.57 billion USD

The Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) on August 1 delivered a press release on criminal proceedings against its former executives Tram Be and Phan Huy Khang.

After two weeks of lowering lending interest rates for short-term VND loans following the State Bank of Vietnam (SBV)’s cue, several commercial banks have reduced their deposit interest rates.

The total outstanding loans in Hanoi was estimated at 1.6 quadrillion VND (70 billion USD) in the first half of this year, according to the State Bank of Vietnam’s Hanoi branch.

Interest rates for deposits and loans and bond yields have remained relatively steady since the end of January, as inflation is under control and foreign exchange rate is stable.

Savings at banks remained attractive to locals, with deposits of individuals in the first nine months of this year seeing a sharp surge of more than 500 trillion VND (22.02 billion USD).

Vietnamese deposits overseas, which were previously negligible, skyrocketed to hit 7.3 billion USD as of the third quarter of 2015, it was reported at a conference in Hanoi on April 12.