Bank deposits unexpectedly fall after months of growth...

According to the latest report of the State Bank of Vietnam (SBV), in January 2025, total capital mobilization from residents and economic organizations in the entire banking system reached about 14.62 million billion VND, down 0.75% compared to the end of 2024.

Although deposits from residents continued to increase by VND123,000 billion (up 1.74%), the sharp decline in deposits from organizations caused the total mobilization of the entire system to decrease.

Specifically, deposits from economic organizations in January decreased by VND233,000 billion, equivalent to a decrease of 3.04% compared to the end of last year. This is the first time after 5 consecutive months of increase that capital mobilized from the organization sector recorded a clear decrease, in the context that banks are accelerating capital attraction to serve the target of high credit growth in 2025.

Previously, in December 2024, deposits from individuals increased by only VND65,000 billion, while deposits from economic organizations increased by nearly VND400,000 billion compared to the previous month. However, by the end of 2024, total capital mobilization was still nearly VND1 million billion lower than total outstanding credit, which had reached VND15.7 million billion.

According to data from the General Statistics Office ( Ministry of Finance ), as of March 25, 2025, total capital mobilization of credit institutions increased by 1.36%, while credit in the whole economy increased by 2.49%. Thus, the gap between mobilization and lending continued to widen, reaching VND 1.1 million billion, putting great pressure on the banking system in ensuring liquidity and meeting growth requirements.

After 5 consecutive months of increase, deposits from economic organizations have suddenly decreased, causing the total capital mobilization of the banking system to decline in the first months of this year.

Speaking at a conference in late February 2025, Deputy Governor of the State Bank of Vietnam Dao Minh Tu admitted that the banking industry is shouldering a heavy task in supporting the economic growth target of 8-10% this year.

He said that the country's GDP is currently around VND12 trillion, while total outstanding credit has nearly reached VND16 trillion, equivalent to 135% of GDP. "This is a macro problem that we are very concerned about, but we must still be determined to implement according to the orientation and policies of the Party, Government and leaders at all levels," said Mr. Tu.

According to him, the banking industry is currently lending beyond its mobilization level - that is, for every VND9 mobilized, it lends up to VND10, the remaining deficit must use its own capital and refinancing sources from the State Bank.

Faced with this situation, the State Bank of Vietnam pledged to use monetary policy management tools to support liquidity for commercial banks, thereby creating favorable conditions for providing credit capital to the economy.

At the same time, the State Bank will prioritize credit allocation to essential sectors, with special attention to promoting consumer credit to stimulate aggregate demand growth.

In addition, the State Bank also aims to maintain stable operating interest rates, creating room for banks to lower lending rates to support businesses and people.

However, the unpredictable developments of tax policy in the US, strong fluctuations in gold prices, and the overheating of the domestic real estate market are making the goal of stabilizing interest rates challenging.

Source: https://baodaknong.vn/tien-gui-ngan-hang-bat-ngo-giam-sau-chuoi-thang-tang-truong-lien-tuc-250207.html