Bank deposits fall after months of continuous increase

Deposits from economic organizations decreased after 5 consecutive months of increase, causing bank capital mobilization to decline at the beginning of this year.

The latest report of the State Bank of Vietnam (SBV) shows that in January 2025, the total capital mobilization from residents and economic organizations of the entire banking system reached 14.62 million billion VND, down 0.75% compared to the end of 2024.

In January, residential deposits continued to increase by VND 123,000 billion (up 1.74% compared to the end of 2024), but a sharp decrease in institutional deposits caused the bank's total capital mobilization to decline.

Specifically, in January, deposits from economic organizations decreased by VND 233,000 billion compared to the previous month (down 3.04% compared to the end of 2024). Thus, after 5 consecutive months of increase, capital mobilization from economic organizations recorded a sharp decline right from the beginning of the year, although banks are making efforts to mobilize capital to prepare sources for high credit growth in 2025.

Previously, in December 2024, individual deposits increased by only VND 65,000 billion, but institutional deposits increased by nearly VND 400,000 billion compared to the previous month.

By the end of 2024, capital mobilization will be nearly VND 1 million billion lower than credit (VND 15.7 million billion).

The General Statistics Office ( Ministry of Finance ) said that as of March 25, 2025, capital mobilization of credit institutions increased by 1.36%, credit of the whole economy increased by 2.49%. Thus, as of March 25, the gap between mobilization and lending of the banking system has reached 1.1 million billion VND.

Mobilization growth is slower than lending, putting pressure on the banking system to meet the target of rapid growth in the coming period.

Speaking at a conference in late February 2025, Deputy Governor Dao Minh Tu said that supporting the economic growth target of 8-10% is a heavy task for the banking industry.

The country's GDP is 12 quadrillion VND while outstanding credit is nearly 16 quadrillion VND, equivalent to 135% of GDP. "From a macro perspective, this is a problem that we are worried about but we still have to try, according to the political determination of the Party, Government and all levels," said Mr. Tu.

According to the Deputy Governor, the banking sector currently lends more to the economy than it mobilizes. That is, it mobilizes 9 dong but the banking sector lends 10 dong, the remaining deficit must be made up of both equity capital and re-lending capital from the State Bank.

However, the State Bank said it will use tools to support liquidity for banks, creating conditions for providing credit capital to support growth. At the same time, the State Bank leader said that this year it will focus capital on priority areas, especially with strong policies to promote consumer credit.

In addition to supporting liquidity, the State Bank also stabilized operating interest rates to create conditions for banks to further reduce lending rates, supporting growth.

However, with the complicated developments of the tax policy introduced by the US, along with the shocking increase in gold prices and the feverishness of the domestic real estate market, stabilizing interest rates for the State Bank is a very challenging goal.

Source: https://baodautu.vn/tien-gui-vao-ngan-hang-giam-sau-nhieu-thang-lien-tuc-tang-d271541.html