Bank deposits increase to highest level in 5 years

VTV.vn - Despite low interest rates, deposits from residents as of the end of July recorded the highest increase in 5 years, reaching a record 7,748 trillion VND.

Illustration photo.

Although deposit interest rates remained low, deposits from the residential sector increased sharply by the end of July, reaching more than VND7.7 trillion, the highest level in the past 5 years, according to data from the State Bank. This figure reflects the trend of people continuing to prioritize safe savings channels, with common interest rates below 6%/year.

Compared to the same period in previous years, this increase is the highest, showing that confidence in the banking system remains strong, even when other investment channels are becoming active again.

On the economic organization side, this group's deposits reached 7,976 trillion VND, 127,500 billion VND lower than the end of last month, equivalent to a decrease of 1.6%.

Since the beginning of the year, institutional deposits have seen negative growth for five consecutive months, remaining almost unchanged since May. Compared to the beginning of the year, the amount of deposits from these entities has increased by more than 4%, while at the same time last year it recorded a decrease of more than 1%.

The State Bank assessed that system liquidity remains abundant, contributing to maintaining low and stable interest rates, in the context that demand for credit capital for production, business and consumption is expected to increase sharply in the last months of the year.

According to data from the State Bank, as of September 29, outstanding credit balance of the entire system had increased by 13.37% compared to the end of 2024, and is estimated to increase by 20.19% in 2025 - the highest level in many years.

However, the State Bank still requires credit institutions to synchronously implement solutions to stabilize interest rates, strive to reduce mobilization interest rates, thereby contributing to stabilizing the monetary market and creating room to reduce lending interest rates to support economic growth.

MB Securities believes that along with the expectation of the Fed cutting interest rates by another 50 basis points in the fourth quarter of 2025, thereby bringing the total cut this year to 75 basis points, it will create conditions for the State Bank to maintain a low interest rate environment.

"Based on the above factors, we forecast that the 12-month term deposit interest rate of commercial banks will remain stable at 4.8% by the end of 2025," MBS Securities analyzed.

Source: https://vtv.vn/tien-gui-dan-cu-vao-ngan-hang-tang-cao-nhat-5-nam-1002510200920258.htm