At the end of the year, many commercial banks (CBs) have promoted capital mobilization policies to improve financial capacity, meeting the credit demand forecast to increase sharply in the fourth quarter of 2024. Notably, the mobilization interest rates of some banks are tending to increase again to attract idle cash flow from the population. In the current economic context, bank savings still hold the advantage in the list of safe and stable investment channels.
According to the report of the State Bank of Vietnam (SBV) Branch in Ha Nam province, in the first half of the fourth quarter of 2024, capital mobilization of credit institutions (CIs) in the province was at about 76,000 billion VND, an increase of about 2% compared to the beginning of the year. Compared to outstanding credit, mobilized capital and disbursed capital in the province are almost equivalent. At the end of the year, commercial banks are focusing on mobilizing capital to meet the needs of customers to invest in expanding production and business development.
The customer attraction policies that commercial banks apply to serve capital mobilization include: Marketing, interest rates, service portfolios and other policies related to the relationship between banks and customers; supporting and advising customers on issues related to the financial - monetary - banking sector, more importantly, helping customers have an investment portfolio, choosing the appropriate types of banking services; adjusting deposit interest rates at different terms, creating great attraction for the savings channel. Increasing interest rates not only helps banks maintain liquidity but also supports customers with loans to increase production and business in the final period of the year. This also shows the flexibility of banks in ensuring capital sources to serve the economy.
Mr. Hoang Xuan Hoi, Deputy Director of the Bank for Agriculture and Rural Development ( Agribank ) Ha Nam Branch said: In the last months of the year, businesses need capital to invest in production and business activities, so credit is forecast to increase higher than at the beginning of the year. On that basis, Agribank Ha Nam Branch directed its affiliated branches to focus on mobilizing capital with many preferential policies to attract depositors. Some branches currently have outstanding capital mobilization balances with outstanding loans of thousands of billions of VND, meeting the need to regulate capital for the system and proactively source capital for the unit. Along with capital mobilization, Agribank Ha Nam Branch will promptly grasp the needs of customers, proactively coordinate with traditional customers, expand new customers, and promptly support customers to borrow capital to invest in production and business.
According to economic experts, if deposit interest rates increase, investors will consider returning to the savings channel because it is both safe and ensures profitability, while other investment channels are more risky. At present, many commercial banks have simultaneously adjusted their mobilization interest rates, with 1-2 month terms with interest paid at the end of the term increasing by 0.2%/year, listed at 3.4% and 3.5%/year, respectively. The 3-month term interest rate increased by 0.1%/year, to 3.8%/year. The driving force from high credit demand at the end of the year is expected to continue to create pressure to increase mobilization interest rates, keeping the savings channel in an attractive position. It is forecasted that the last months of the year are often the period when banks focus on mobilizing capital to meet the high loan demand from businesses. Mobilization interest rates may continue to increase when capital demand increases sharply. This means that the savings channel is still the top choice thanks to its safety and attractive interest rates.
Mr. Pham Van Tung, Acting Director of the State Bank of Vietnam's Ha Nam Branch, said: 2024 is still considered a difficult year for commercial banks due to the impact of economic recession and military conflicts in the world. The move by banks to mobilize capital at the beginning of the year with a sharp decrease in interest rates will lead to a decrease in lending interest rates, in order to stimulate production development. However, at the end of the year, the market's capital absorption demand is better, which is also the time when banks can adjust to increase mobilization interest rates to attract capital. In order to complete the assigned plan and promptly disburse capital for economic development, commercial banks have implemented many effective credit growth solutions along with credit quality control; promptly restructured the repayment period for customers; exempted and reduced interest rates for customers in priority groups according to State regulations.
In addition to the above solutions, in the last months of the year, commercial banks will continue to prioritize credit investment in production and business sectors and strictly control credit for potentially risky sectors, remove difficulties for customers, especially corporate customers, contributing to the rapid recovery of the economy, associated with sustainable credit growth. Commercial banks in the province will provide sufficient capital for customers on the condition that loan procedures are guaranteed according to regulations.
Tran Thoan
Source: https://baohanam.com.vn/kinh-te/tai-chinh-ngan-hang/giai-phap-nang-cao-hieu-qua-huy-dong-von-cua-cac-ngan-hang-thuong-mai-140789.html
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