Bank deposits set new record
According to the latest updated data from the State Bank, as of the end of March 2025, total deposits at credit institutions reached nearly 15 million billion VND, an increase of 1.8% over the previous month.
Of which, residential deposits reached VND7.47 trillion, a sharp increase of 5.73% in just 3 months. Notably, although corporate deposits decreased slightly by 1.92% compared to the end of 2024, they still increased by more than VND158 trillion compared to the previous month, demonstrating the attractiveness of the banking channel in the context of a volatile economy .
According to Dr. Chau Dinh Linh (Banking University of Ho Chi Minh City), in a period when investment channels have high potential risks, a defensive mentality is a natural reaction of people. Although the rate of return is not high, saving brings safety, good liquidity and especially avoids "shocking" fluctuations from the market.
Sharing the same view, Mr. Nguyen Quang Huy, Executive Director of the Faculty of Finance and Banking (Nguyen Trai University), said: “People increasingly prioritize low-risk options. Although current investment channels are diverse, none of them meet all three factors: yield, safety and liquidity. In that context, banks are still the safest 'landing place' for idle cash flow.”
Notably, according to data released by the State Bank, by the end of May 2025, credit in the entire economy had increased by 6.52%, nearly 3 times higher than the same period last year. Total outstanding credit is currently around VND16.6 trillion, an increase of VND1 trillion after only the first 5 months of the year.
Credit capital is strongly pumped, but a large part of the cash flow is still "anchored" in banks, showing that people have not really found an alternative investment channel with high enough attractiveness.
Investment market not strong enough to bounce back
After a period of overheating, real estate, one of the most anticipated investment channels, is showing clear signs of cooling down. Dr. Tran Xuan Luong, Deputy Director of the Vietnam Institute for Real Estate Market Research and Evaluation, commented that investors are currently cautious about global geopolitical fluctuations as well as domestic institutional adjustments. According to him, the market in the second half of 2025 will remain in a "sideways" state, with little chance of a clear breakthrough.
Not only that, the “surfing” money flow that once made real estate so vibrant has now cooled down significantly. Short-term investors withdrew when market liquidity decreased, and many projects no longer created profit expectations like in the previous period. The slowdown in real estate price growth also means that this investment channel is no longer a “gold mine” for individual investors.
Meanwhile, the gold market, a traditional investment channel, considered a “safe haven”, is also entering a period of unpredictable fluctuations. In Vietnam, the price of SJC gold bars increased by 44% in the first 4 months of the year but has fluctuated for the past 2 months.
In the world market, gold prices peaked at nearly 3,500 USD/ounce in April 2025, but since then have been hovering around 3,400 USD/ounce, with no clear trend yet.
Shaokai Fan, director of Asia-Pacific and global central banking at the World Gold Council, warned that while gold remains a strategic defensive asset, “correction risks” are always present. “Gold prices can turn around at any time. Investors who do not have enough knowledge and long-term strategies should consider carefully before investing,” he said.
Regarding the stock market, although there are signs of recovery and investor sentiment has improved, it is not enough to create a breakthrough. According to Mr. Phan Dung Khanh, Director of Investment Consulting at Maybank Investment Bank, for the market to grow sustainably, fundamental factors such as GDP growth, information about market upgrade, and stable foreign capital flow are needed. These factors are still not really clear or have not come at the right time.
In terms of new investments, some experts are optimistic about the digital asset channel. The National Assembly is considering legalizing crypto assets in the Digital Technology Industry Law, or the plan to establish an International Financial Center in Ho Chi Minh City can open up great opportunities. However, this is a playground that requires deep understanding and high risk acceptance, which not all investors can meet.
While traditional and emerging investment channels are showing signs of instability or lack of attractiveness, bank savings have emerged as a stable and safe option.
Dr. Nguyen Tri Hieu, a financial expert, commented: “It is not surprising that the money is still ‘lying still’ in the bank. People are giving top priority to preserving capital, instead of taking risks to make profits in the current unstable market.”
People's choices reveal a clear paradox: despite low deposit interest rates, they are the most popular "investment channel".
In the context of the financial and investment markets not having real momentum, the trend of "waiting for the right time" through savings deposits will continue in the coming time.
Source: https://baodaknong.vn/thieu-kenh-dau-tu-hap-dan-dong-tien-do-don-vao-ngan-hang-255979.html
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