Vietnam bank deposits reach record 11,000 trillion VND

Bank deposits in Vietnam have reached a record high of over 11,000 trillion VND, with an increase of approximately 733,000 trillion VND recorded in the first half of the year. This surge reflects growing public confidence in the stability of the national financial system.

To attract this liquidity, banks are engaging in competitive capital mobilization. Interest rates for long-term deposits and online products remain high, with some institutions offering rates between 7% and 9% per annum. Major banks, including Vietcombank and MB Bank, have listed rates around 7%, while others offer certificates of deposit and high-interest bonds to secure idle capital.

In response to these financial trends, Prime Minister Le Minh Hung has directed the banking sector to manage monetary policy flexibly. The goal is to stabilize interest rate levels, reduce lending rates, and ensure credit is directed toward appropriate sectors to support economic growth. Additionally, the government is increasing the charter capital of Co-opBank by 5,000 trillion VND to enhance its financial capacity and support rural economic development.