VietinBank's CASA growth and optimized capital sources contribute to improved business efficiency.

Amidst a market-wide decline in current account deposits (CASA) and limited growth potential, VietinBank 's CASA size remains among the top performers and is gradually improving in proportion to its customer deposits. This contributes to improving Net Interest Margin (NIM) and enhancing the bank's operational efficiency.

According to the consolidated financial report for the third quarter of 2024, the entire market experienced a decline in both the size and CASA ratio. However, in this context, VietinBank emerged as a bright spot, showing both growth in size and improvement in the CASA ratio of its mobilized capital. As of the end of the third quarter of 2024, VietinBank's CASA capital reached VND 351 trillion, a net increase of VND 33 trillion, or 10.4%, compared to the end of 2023; the CASA ratio in total mobilized capital reached 23.2%, an increase of 0.6% compared to the end of 2023. With these results, VietinBank became the bank with the highest increase in CASA balance in the banking industry, continuing to be among the banks with the highest CASA size and improvement in the CASA ratio in the market. This is an advantage for VietinBank compared to other banks. This also demonstrates VietinBank's ability to maintain and grow CASA capital amidst a decline in CASA deposits across the market, helping VietinBank reduce its cost of capital (COF), increase its net interest margin (NIM), and improve overall operational efficiency.

VIETINBANK'S CASA CAPITAL GROWTH

Source: VietinBank's consolidated financial statements

Increase CASA through comprehensive financial solutions.

Currently, VietinBank manages its customers according to different segments and sub-segments. Based on an understanding of each customer's needs, VietinBank has developed comprehensive financial solutions tailored to each segment: large enterprises (SMEs), small and medium-sized enterprises (SMEs), FDI enterprises, retail customers, etc., and according to the specific business characteristics of each customer. Along with these comprehensive financial solutions, VietinBank implements many promotional programs for account services, money transfers, and e-banking for customers; actively shifting customers from traditional channels to digital channels, enhancing service experience and reducing costs for both VietinBank and its customers. Over the years, VietinBank has effectively implemented campaigns to develop new customer bases by encouraging them to open accounts (including individual account openings via eKYC) and use online payment applications such as VietinBank eFAST and VietinBank iPay. As a result, the number of corporate and retail customers has grown over the years, with an increase of approximately 7% per year for the corporate segment and 17.5% for the retail segment.

NUMBER OF CORPORATE CUSTOMERS TRANSACTING AT VIETINBANK OVER THE YEARS

Unit: Thousand Customers

NUMBER OF RETAIL CUSTOMERS TRANSACTING AT VIETINBANK OVER THE YEARS

Unit: Million Customers

Utilizing advanced banking technology and connecting diverse ecosystems.

VietinBank continuously innovates, applying modern technologies, connecting ERP systems, payment and cash flow management, and building a comprehensive payment ecosystem to serve the diverse needs of all customer segments. Thanks to efforts in developing digital payment services, the number of transactions through VietinBank eFAST and VietinBank iPay in Q3/2024 increased by 37.6% and 75.2% respectively compared to the same period in 2023; the proportion of transactions through VietinBank iPay for individual customers reached 92.2% and through VietinBank eFAST for corporate customers reached 84%.

Affirming our leading market position

VietinBank has launched many new payment products and services such as: Account and investment service packages for financial institutions; electronic payment packages for State budget revenue and expenditure activities… applying Digital Signature Management (DSM) technology to allow customers to conduct transactions remotely, securely, and marking a major step forward in VietinBank's digital transformation process. Not stopping at the domestic market, VietinBank has also pioneered the development of cross-border payment services using QR codes between Vietnam and Thailand – a breakthrough project in the field of international payments. This success has been further expanded to the Lao market, facilitating cross-border trade and strengthening CASA (Current Account Savings Account) from international customers. Alongside expanding its payment ecosystem, VietinBank has established cooperative relationships with major partners such as hospitals, schools, and public administrative agencies to develop bill and tuition fee payment services. Combined with a diverse range of card payment products from major organizations such as JCB and other payment partners like VNPAY , InfoPlus, Vbis, etc., these strategic solutions have helped VietinBank not only maintain its CASA growth rate but also reduce its cost of capital (COF), improve its net interest margin (NIM), and affirm its pioneering position in the field of modern digital payments. In the future, VietinBank will continue to apply and develop digital transformation initiatives and solutions to meet the capacity to process a large volume of transactions in the future. Simultaneously, it will continue to modernize its payment system to create a foundation for promoting business operations and fostering customer satisfaction and loyalty.

Source: https://www.vietinbank.vn/vi/tin-tuc/tin-tuc-va-su-kien/vietinbank-tang-truong-casa-toi-uu-hoa-nguon-von-gop-phan-nang-cao-hieu-qua-kinh-doanh-20241121041209-00-html