With cash pouring in, which bank is attracting the most deposits?

Customer deposits at banks continue to set new records, reaching over 10,755 trillion VND as of September 30, according to the Q3/2024 financial reports of 28 banks that have been published.

The Q3/2024 financial reports of 28 commercial banks, recently released, show that the total amount of deposits from individual and institutional customers as of September 30 exceeded VND 10,755 trillion, an increase of 7.13% compared to the end of 2023.

This statistic does not include Agribank because this bank, which consistently leads the system in deposit mobilization, has not yet published its Q3 financial report. The group of weak banks, including OceanBank, GPBank, CB, Dong A Bank, and SCB, are also not included in the statistics because they have not published their financial reports.

Since Agribank has not yet released its report, three out of four Big4 banks are leading the entire system in terms of... money raised from customers as of September 30th.

BIDV led the way, having mobilized 1,853 trillion VND, a 9.9% increase compared to the end of 2023.

VietinBank ranked second, having attracted 1,514 trillion VND, an increase of 7.46%.

Vietcombank ranked third with mobilized funds of 1,432 trillion VND, an increase of 2.15%.

Most banks achieved positive deposit growth in the first nine months of the year. Photo: Nam Khanh

Besides the three aforementioned state-owned "giants," the remaining banks in the Top 10 leading banks in terms of deposit mobilization include:

MB (626 trillion VND, up 9.91%), Sacombank (561,566 trillion VND, up 10.88%), ACB (483,649 trillion VND, up 6.62%), Techcombank (457,722 trillion VND, up 8.87%), VPBank (443,558 trillion VND, up 7.42%), SHB (444,627 trillion VND, up 5.32%), and HDBank (370,777 trillion VND, up 7.07%).

The market also recorded negative deposit growth for two banks in the first nine months of the year: Saigonbank (-0.4%) and ABBank (-8.9%).

Statistics show that some banks recorded a decrease in customer deposits compared to the previous quarter, such as Nam A Bank, LPBank, VietBank, and Saigonbank.

However, LPBank ranked 11th in the system in terms of deposit mobilization with over VND 271,302 billion, a strong increase of 14% compared to the end of 2023. The other two banks in the group of banks mobilizing over VND 200,000 billion are VIB (VND 256 trillion, an increase of 8%) and TPBank (VND 224 trillion, an increase of 7.95%).

Several banks had deposit balances below VND 100 trillion as of September 30th, with Saigonbank at the bottom of the list with only VND 24 trillion (down 0.4%). Other banks at the bottom of the list include: Viet A Bank (VND 92,432 trillion, up 6.6%), VietBank (VND 91.5 trillion, up 1.66%), ABBank (VND 91,127 trillion, down 8.9%), NCB (VND 90,411 trillion, up 17.6%), BVBank (VND 60,567 trillion, up 5.75%), Kienlongbank (VND 60,382 trillion, up 5.53%), Baoviet Bank (VND 57.23 trillion, up 8.29%), and PGBank (VND 38,098 trillion, up 6.63%).

Top 10 banks attracting the most deposits in the first 9 months of 2024. Chart: Tuan Nguyen.

With a deposit growth rate of up to 17.60% compared to the end of 2023, NCB is the leading bank in deposit growth, although the absolute figure is only over 90,441 trillion VND. This growth rate far surpasses the second-ranked bank, LPBank, which achieved a deposit growth rate of 14.28% (LPBank is also among the leading banks in credit growth in the first nine months of the year with a growth rate of 16.10%).

Besides NCB and LPBank, two other banks achieved deposit growth of over 10%: MSB (12.18% growth) and Sacombank (10.88%).

The group of banks leading the system in terms of absolute deposit volume also achieved quite high growth rates. Specifically, BIDV's deposit growth was 9.92%, MB's 9.91%, Techcombank's 8.87%, and VietinBank's 7.46%.

Despite being among the top performers in terms of absolute deposit figures, Vietcombank's deposit growth only reached 2.15% in the first nine months of the year. This growth rate is only slightly higher than the bottom-ranked group, which includes: VietBank (1.66%), Bac A Bank (1.29%), Saigonbank (-0.47%), and ABBank (-8.9%).

CUSTOMER MOBILIZATION BY BANKS ON SEPTEMBER 30, 2024
No.	BANK	MOBILIZATION (UNIT: VND)	GROWTH COMPARED TO THE END OF 2023 (%)
1	MB	1,852,800,414,000,000	9.92
2	VIETINBANK	1,514,613,059,000,000	7.46
3	VIETCOMBANK	1,431,791,823,000,000	2.15
4	MB	626,141,735,000,000	9.92
5	SACOMBANK	561,566,451,000,000	10.89
6	ACB	515,705,088,000,000	6.63
7	TECHCOMBANK	498,366,607,000,000	8.88
8	VPBANK	476,475,651,000,000	7.42
9	SHB	468,313,978,000,000	5.33
10	HDBANK	397,018,666,000,000	7.08
11	LPBANK	271,302,521,000,000	14.28
12	VIB	256,076,915,000,000	8.05
13	TPBANK	224,821,650,000,000	7.95
14	EXIMBANK	167,603,999,000,000	6.99
15	SEABANK	154,284,431,000,000	6.24
16	NAM A BANK	152,390,933,000,000	4.66
17	MSB	148,467,218,000,000	12,18
18	OCB	136,558,363,479,393	8.41
19	BAC A BANK	120,166,775,000,000	1.29
20	VIET A BANK	92,432,057,000,000	6.61
21	VIETBANK	91,500,021,000,000	1.67
22	ABBANK	91,127,982,000,000	-8.92
23	NCB	90,411,936,000,000	17.61
24	BVBANK	60,567,473,000,000	5.75
25	KIENLONG BANK	60,382,506,000,000	5.53
26	BAOVIET BANK	57,230,733,292,481	8.29
27	PGBANK	38,098,844,000,000	6.63
28	SAIGONBANK	24,055,357,000,000	-0.47