According to statistics for 27 listed banks that have announced their financial reports for the fourth quarter of 2023, customer deposits will increase in 2023, up to VND9.8 million billion, an increase of 18.76% compared to 2022.

The above figure does not include the capital mobilized at Agribank and unlisted banks. If Agribank's capital is included, the total amount of money mobilized by 28 banks through the savings channel is estimated at over 11 million billion VND.

Meanwhile, according to the latest announcement of the State Bank, the amount of deposits of economic organizations and residents in the credit institution system as of November 2023 reached a record level of 12.8 million billion VND (of which deposits of the residential sector reached 6.471 million billion VND).

However, this figure of 12.8 million billion VND includes the issuance of valuable papers (promissory notes, bonds, deposit certificates, etc.), while the figure of 9.8 million billion VND compiled from the financial reports of 27 listed banks does not include valuable papers.

Of which, BIDV, VietinBank and Vietcombank respectively hold the top 3 positions among listed banks in terms of deposit mobilization.

The amount of customer deposits (term and non-term) at BIDV as of December 31, 2023 reached VND 1,685 trillion, an increase of 15.67% compared to 2022.

With VietinBank, this bank attracted 1,409 trillion VND in deposits, an increase of 13% compared to 2022. Meanwhile, Vietcombank received 1,400 trillion VND in deposits from customers, an increase of 14.46%.

Behind the above 3 "big guys", the group of joint stock commercial banks in the Top 10 listed banks that customers "choose to deposit money" include: MB, Sacombank, ACB, Techcombank, SHB, VPBank, HDBank.

Accordingly, the amount of deposits as of December 31, 2023 at MB was VND 569,640 billion, up 27%; at Sacombank was VND 506,435 billion, up 12.52%; at ACB was VND 483,649 billion, up 16.33%; at Techcombank was VND 458,000 billion, up 27%.

Deposits at SHB were VND444,627 billion, up 24%; at VPBank VND443,558 billion, up 44.36%; at HDBank VND371,000 billion, up 72%.

Thus, the Top 10 banks above hold up to 82% of total deposits at 27 listed banks.

However, in terms of deposit mobilization growth rate, the group of private joint-stock commercial banks is clearly superior to state-owned commercial banks. Even the Top 10 banks according to this criterion do not have the names of the 3 "big" state-owned commercial banks.

Leading the industry in terms of growth in deposit mobilization is HDBank with a sudden increase of 71.78%, VPBank ranked second with an impressive growth of 44.36% compared to 2022.

These two banks are far ahead of the rest when the remaining 8 banks in the Top 10, no bank achieved a deposit growth rate of up to 30%.

Specifically, deposit growth at MB reached 27.30%, Techcombank 27%, SeABank 25.68%, SHB 24%, Viet A Bank 23.47%, OCB 23%, Bac A Bank 19%, and ABBank (18%).

Although deposit interest rates have fallen to their lowest level in many years, deposits in the banking system have continuously increased in the months of 2023 in the context of other investment channels, especially stocks, real estate and corporate bonds, not yet flourishing.

Currently, the 6%/year deposit interest rate has almost completely disappeared. The Big4 banking group is listing the highest deposit interest rate for 12-18 month terms at only 4.7-4.8%/year, while the bank interest rate for 6-9 month terms is only 2-3.2%/year.

DEPOSITS MOBILIZATION OF LISTED BANKS AS OF DECEMBER 31, 2023 (source: Q4 financial statements of banks)
STT BANK CUSTOMER DEPOSITS (million VND) CHANGE FROM 2022 (%)
1 BIDV 1,685,132,729 15.67
2 VIETINBANK 1,409,417,668 13.01
3 VIETCOMBANK 1,401,596,396 14.46
4 MB 569,640,145 27.30
5 SACOMBANK 506.435.603 12.53
6 ACB 483,649,253 16.33
7 TECHCOMBANK 457,722,769 26.86
8 SHB 444,627,843 24.04
9 VPBANK 443,558,250 44.36
10 HDBANK 370,777,888 71.82
11 LPBANK 237,391,609 9.96
12 VIB 237,003,479 18.20
13 TPBANK 208,261,560 6.82
14 EXIMBANK 156,654,052 5.27
15 NAM A BANK 145,661,035 16.46
16 SEABANK 145,225,061 25.68
17 MSB 132,345,031 13.00
18 OCB 125,968,487 23.22
19 BAC A BANK 118,634,248 22.25
20 ABBANK 100,054,059 18.92
21 VIETBANK 90,000,811 18.44
22 VIET A BANK 86,701,603 23.48
23 NCB 76,875,879 7.66
24 BVBANK 57,273,616 13.95
25 KIENLONG BANK 57,215,845 8.94
26 PGBANK 35,729,881 14.30
27 SAIGONBANK 24,169,045 14.48
TOTAL: 9,807,723,845 18.76