top of page

Vietnam sees record bank deposits in Q1

Bank deposits in Vietnam hit a decade high in Q1, with a total of VND415tr (USD17.58bn) recorded, according to the State Bank of Vietnam. This figure significantly surpasses the average Q1 individual customer deposit of VND150tr over the last 7-8 years. High interest rates since October last year have encouraged deposits, despite recent reductions. Institutional deposits, however, fell by almost 4.9% in Q1 to VND5.66 quadrillion, reflecting liquidity challenges in the real estate sector and contraction among producers and exporters. Despite a 1% overall increase in individual and institutional deposits since the start of the year, experts suggest the banking system's liquidity is somewhat excessive given recent record low credit growth.


bottom of page