Ha Tinh banking sector "reaches" capital mobilization target

Compared to the beginning of the year, interest rates at credit institutions in the last months of the year decreased sharply. However, thanks to the implementation of preferential policies, the mobilized capital of Ha Tinh's banking sector still grew well.

According to records, "big guys" such as: Agribank Ha Tinh Branch, Agribank Ha Tinh Branch II, BIDV Ha Tinh Branch focus on attracting idle capital from the population by "running" savings programs with attractive prizes such as: cars, motorbikes, savings books...

Ha Tinh banking sector

Agribank Ha Tinh II Branch effectively implements the bonus savings program.

Recently, Agribank Ha Tinh II Branch has implemented a savings program to celebrate the branch's 5th anniversary. The program's prize structure includes 1,122 prizes with a total value of nearly 1.4 billion VND, of which the special prize is a Toyota Corola Cross car, worth 854 million VND. After only 5 months of implementation, the unit has attracted over 1,100 billion VND.

According to Mr. Vo Manh Tuan - Deputy Director of Agribank Ha Tinh II Branch, up to now, the total mobilized capital of the entire branch has reached 13,330 billion VND, an increase of 15% compared to the end of 2022. From here, it creates resources for the branch to continue investing in lending to serve the economy at the end of the year, especially in the agricultural - rural areas, retail market...

At Vietcombank Ha Tinh Branch, as of November 30, 2023, the total mobilized capital reached more than 13,000 billion VND, an increase of 20% compared to the beginning of the year. The main reason for the increase in capital mobilization is due to customers' trust in the Vietcombank brand. In addition, in recent times, investment channels such as real estate, stocks, etc. have not shown any signs of a truly positive recovery, so most people in the area still choose savings channels to ensure safety.

For the local joint stock commercial banks such as HDBank, Bac A Bank, ACB, MB Bank..., there is a strategy to attract cash flow by applying attractive deposit interest rates (first 6 months of the year). From July 2023 onwards, when deposit interest rates "cool down", the "banks" will focus on designing and implementing savings packages with preferential interest rates specifically for many customer segments.

Ms. Phan Thi Minh Thai - Head of Customer Service - Treasury Department, Bac A Bank Ha Tinh said: "The unit has deployed a variety of special capital mobilization packages such as: "Savings for the elderly", "Savings for home builders", "Savings for armed forces", "Online deposits"... with interest rates added from 0.04 - 0.2%/year compared to the normal interest rate, attracting many customer segments. In 2023, the branch aims to mobilize VND 3,480 billion and up to now has reached over VND 3,800 billion".

Ha Tinh banking sector

Many customers in Ha Tinh still choose savings channels to ensure safety.

Ms. Nguyen Thi Lan (Tran Phu ward, Ha Tinh city) said: "Although the current deposit interest rate has decreased compared to the beginning of the year, however, in the context of many difficulties in production and business activities due to the impact of economic recession, we still prioritize choosing the savings channel at banks to ensure safety."

According to the assessment of the State Bank of Vietnam, although the mobilization interest rate in 2023 tends to decrease gradually, with the implementation of many incentive programs, the total mobilized capital in the whole area achieved good growth. By the beginning of November 2023, the total mobilized capital of credit institutions reached VND 96,745 billion, up 17.67% over the same period and up 14.8% compared to the end of 2022 (while the plan set for 2023 is to increase by 13% or more). Of which, savings deposits reached VND 72,401 billion, up 16.45% compared to the end of 2022, payment deposits reached VND 24,344 billion, up 11.45% compared to the end of 2022.

It is estimated that by December 31, 2023, the mobilized capital of credit institutions in Ha Tinh will reach VND 98,252 billion, an increase of 16.59% compared to the end of 2022.

Ha Tinh banking sector

Transaction activities at Bac A Bank, Ha Tinh Province Branch.

In recent times, credit institutions in the area have strictly complied with the regulations on interest rate management of the Governor of the State Bank of Vietnam, there has been no phenomenon of unfair competition or exceeding the ceiling. In addition, the Ha Tinh banking sector has also implemented many solutions to reduce deposit interest rates, cut costs, thereby creating room to reduce lending interest rates for customers. Compared to the beginning of the year, the VND mobilization interest rate in the area has decreased by 0.5-2.7%/year for all terms.

Thao Hien

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