It is estimated that by October 31, 2023, the mobilized capital of the banking sector in Ha Tinh reached approximately 96,400 billion VND, an increase of 14.4% compared to the end of 2022.
In recent times, credit institutions in Ha Tinh have proactively implemented various solutions to attract idle funds from the population. In the first few months of the year, banks (especially joint-stock commercial banks) maintained high deposit interest rates, which quickly boosted capital inflows.
Agribank Ha Tinh II Branch has launched a prize-winning savings program, attracting a large number of customers.
Meanwhile, major banks such as Agribank Ha Tinh Branch, BIDV Ha Tinh Branch, Agribank Ha Tinh II Branch, etc., have designed and implemented prize-winning savings programs with many valuable prizes such as cars, motorbikes, savings accounts, etc., acting as a "catalyst" to drive impressive capital growth.
Following the directive of the State Bank of Vietnam (SBV) to lower the policy interest rate, starting from the third quarter of 2023, credit institutions have continuously lowered deposit interest rates to create room for reducing lending interest rates and supporting the economy. While deposit interest rates have decreased in recent months, thus reducing the attractiveness of savings accounts for the public, overall, the total capital of the banking sector in Ha Tinh province has still shown good growth.
Mobilized capital is a crucial resource for commercial banks to provide loans for production and business investment during the final push of the year.
According to data from the State Bank of Vietnam's Ha Tinh Provincial Branch, as of October 31, 2023, the mobilized capital of credit institutions in the province reached approximately VND 96,400 billion, an increase of 17.3% compared to the same period in 2022 and a 14.4% increase compared to the end of 2022. This is an important resource for commercial banks to continue supporting people and businesses, providing loans for investment in production and business during the final push of 2023.
According to the State Bank of Vietnam's Ha Tinh Provincial Branch, in recent times, credit institutions in the area have strictly complied with the regulations on interest rate management issued by the Governor of the State Bank of Vietnam, and there have been no instances of unfair competition or exceeding the interest rate ceiling. Accordingly, interest rates for VND deposits are 0.1-0.5% per year for demand deposits and deposits with maturities of less than one month; 3.3-4.55% for deposits with maturities from one month to less than six months; 4.3-6.3% per year for deposits with maturities from six months to less than twelve months; and 5.3-6.5% per year for deposits with maturities of twelve months or more. The interest rate on USD deposits is 0% per year for both institutional and individual deposits. |
Thao Hien
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