Capital mobilization increases cannot keep up with credit growth

According to statistics updated to the end of December 2024 just announced by the State Bank, deposits from residents reached 7,065 million billion VND, an increase of about 65,000 billion VND in December alone. Meanwhile, deposits from economic organizations skyrocketed by nearly 400,000 billion VND, bringing the total to 7,66 million billion VND.

Thus, the total capital mobilized from residents and businesses reached 14,732 trillion VND, an increase of 463 trillion VND in just one month, a positive figure in terms of cash flow into the banking system. However, along with the increase in capital mobilization, the amount of money lent to the economy also increased sharply, the total outstanding credit balance reached 15.7 trillion VND, which is nearly 1 trillion VND higher than the total mobilized capital.

This gap is likely to widen in the first months of 2025. In the first quarter of 2025 alone, according to data from the General Statistics Office - Ministry of Finance, as of March 25, 2025, capital mobilization of credit institutions increased by only 1.36%, while credit increased by 2.49%; the gap between mobilization and lending continues to widen, now exceeding VND 1.1 million billion.

Total capital mobilized from residents and businesses by the end of 2024 will reach 14,732 trillion VND. Photo: Duy Minh

With the current GDP size of about 12 million billion VND, while outstanding credit has nearly reached 16 million billion VND (equivalent to 135% of GDP), it can be seen that the banking system is "stretching" to meet the capital needs of the economy. By the end of the first quarter of 2025, the mobilization interest rate level remained almost unchanged compared to the end of 2024, increasing by only 0.08%, while the lending interest rate level continued to decrease by 0.4% compared to the end of 2024.

A State Bank leader frankly admitted: “The banking sector is lending more to the economy than the mobilized balance. We mobilized 9 dong but lent out 10 dong.” And this capital shortage must be compensated by equity capital or refinancing sources from the State Bank. At the same time, the State Bank leader affirmed that it will continue to support liquidity for commercial banks, while prioritizing credit in the fields of production, high technology, renewable energy, and export, while strictly controlling risks in sensitive areas.

It is known that by the end of the first quarter, credit growth reached 3.93%, 2.5 times higher than the 1.42% in the same period last year. And up to this point, 26 commercial banks have adjusted their deposit interest rates down, creating a foundation for a reasonable interest rate loan flow for the economy.

Thuy Linh

Source: https://congthuong.vn/huy-dong-von-tang-khong-kip-muc-tang-tin-dung-382256.html