26.2 C
Ho Chi Minh City
Sunday, July 21, 2024

spot_img

TAG

deposit interest rates

Deposits surge despite rate cuts

Despite the ongoing run of interest rate cuts, deposits have continued flowing into the banking system. This is an omen of economic conditions getting tougher. A big surprise? Data from the General Statistics Office (GSO) showed that capital mobilization by credit institutions, as of September 20, had increased by 5.8% compared to the beginning of the year. In contrast, credit growth stood at 5.73%. The trend of capital mobilization outpacing credit growth persisted into the third quarter. The GSO data also indicated that by June 20, deposits had increased by 3.26%, while outstanding loans grew by 3.13%. That deposits are growing faster than loans has been observed throughout the year, highlighting certain challenges in the economy, especially given the significant slowdown in lending in the banking system. The first nine months of 2020 saw a higher growth rate in capital mobilization than in lending, except for 2020 when the Covid-19 pandemic significantly disrupted economic activities. During this period in 2020, capital mobilization increased by 4.04%, compared to credit growth of 10.54%. In 2021, the rates were 4.28% and 7.17% respectively, demonstrating a clear shift in these two indicators. In absolute terms, deposits at credit institutions have increased by VND685.53 trillion […]
To read more, please click here.

Two major banks reduce deposit interest rates to 5.5%

HCMC – Two major state-run commercial banks, Vietcombank and Agribank, have lowered their deposit interest rates to 5.5% per year, matching the lowest level...

Major banks lower deposit interest rates below 6%

HCMC – Several major banks have reduced their deposit interest rates to below 6% per year. This marks the fifth significant interest rate cut...

Major banks further cut deposit rates

HCMC – Four State-run banks have further reduced interest rates for deposits of various tenors in a bid to make loans cheaper for businesses...

Banks lower deposit interest rates further

 State-owned and private banks have recently lowered their deposit interest rates in response to the decision by the State Bank of Vietnam (SBV) to...

Banks lower deposit interest rates further

HCMC - State-owned and private banks have recently lowered their deposit interest rates in response to the decision by the State Bank of Vietnam...

Central bank lowers interest rate caps

HCMC – The State Bank of Vietnam (SBV), the country's central bank, has once again lowered the maximum deposit interest rate for tenors below...

Major banks further lower deposit interest rates

HCMC - Several major banks have slashed their deposit interest rates by 0.5 percentage point compared to those in mid-May, right after the State...

Latest news

spot_img