HCMC – Personal deposits at commercial banks in Vietnam totaled nearly VND7 quadrillion as of August, up by 6% against the end of 2023, according to data from the State Bank of Vietnam (SBV).
Compared to the end of July, personal savings deposits rose by nearly VND86.5 trillion. On average, each day in August saw VND2.88 trillion deposited at banks.
Meanwhile, deposits from organizations and businesses stood at VND6.8 quadrillion by the end of August, showing a slight decrease from the end of last year.
However, deposits from businesses and economic organizations have been flowing back into banks over the past three months, with an additional VND69.6 trillion deposited by the end of July.
Altogether, deposits from individuals, businesses, and economic organizations reached a record high of nearly VND13.8 quadrillion.
Financial experts attribute this influx to investor caution around other investment options, such as stocks and real estate, amid gold price fluctuations.
Additionally, deposit rates have been on the rise since April, with current 12-month deposit rates at some commercial banks ranging from 5% to 5.8% per year, while 6- and 9-month terms carry rates between 4.5% and 4.8%.
