Which 3 banks are holding nearly 100,000 billion VND of the State Treasury?

BIDV, VietcomBank and VietinBank have just announced their consolidated financial statements for the first quarter of 2024. The reports show that the State Treasury's deposits at these banks increased sharply in the first 3 months of the year.

Specifically, at BIDV, the State Treasury has a deposit balance of VND40,000 billion in term deposits and more than VND5,500 billion in non-term deposits. This figure is double the balance of more than VND19,000 billion deposited at the end of 2023.

At VietinBank, the State Treasury's deposit balance by the end of the first quarter of 2024 was VND45,445 billion, more than double that of the end of 2023.

The State Treasury's deposit balance at Vietcombank is the lowest among the three state-owned banks, just over VND3,300 billion, but this figure is also more than 4 times higher than at the end of 2023.

Thus, the total deposits of the State Treasury at the above 3 banks reached over 94,000 billion VND.

Previously, a large amount of the State Treasury's deposits at banks were in the form of non-term deposits with a regular balance of hundreds of thousands of billions of VND. However, from the end of 2019, the State Treasury's non-term deposits will be transferred to the State Bank's Transaction Center instead of being left overnight at commercial banks as before. At the same time, banks will have to bid publicly to receive the Treasury's term deposits.

This regulation encourages the State Treasury to restructure bank deposits in the direction of reducing non-term deposits and increasing term deposits. Banks also receive more stable deposits.

According to regulations, the term deposits of the State Treasury must be publicly bid, but the opportunity to receive this huge amount of money still mainly belongs to state-owned banks due to the principle of "choosing the right place to deposit money".

The State Treasury is all cash at Treasury units; State funds in Treasury accounts opened at the State Bank and commercial banks.

Currently, the temporarily idle State budget is used in order of priority, which is to lend to the State budget to cover the deficit, repay the principal and make advances when the revenue has not yet arrived. This amount is deposited for a term at commercial banks according to the principle of competitive bidding for interest rates and term repurchase of Government bonds.

To maximize the benefits from idle funds, the State Treasury often deposits payment (non-term) and term funds at commercial banks. This is a good source of capital that many banks desire.

Cong Hieu

Source: https://vtcnews.vn/3-ngan-hang-nao-dang-giu-gan-100-000-ty-dong-cua-kho-bac-nha-nuoc-ar868030.html