In the last days of the year, interest rates at many banks continued to decrease, causing people to hesitate in choosing between savings and other forms of investment. However, according to a report by Dragon Capital Securities (VDSC), current interest rates are at a very low level and may gradually increase in 2024.
Deposit interest rates may increase again in 2024 (Photo TL)
According to experts, low interest rates are largely due to the economy 's relatively weak capital demand. Banks do not have many problems in mobilizing capital, so deposit interest rates will not have competition in deposit interest rates as in previous years.
Data from the State Bank shows that the credit growth rate of the entire banking sector as of mid-December was only 9.87%, significantly lower than the same period last year. In addition, Circular 26 on allowing the calculation of State Treasury deposits into the credit balance ratio over mobilized capital will also gradually decrease in 2024, gradually putting pressure on the entire system in 2024.
From there, analysts believe that next year, as the economy recovers, credit demand will also improve. Demand for deposit interest rates will also gradually increase in 2024. VDSC expects that net interest margins will improve, falling to a level lower than the pandemic.
However, the ability to recover net interest margins also depends on a number of factors such as the ability to control bad debt and the debt term structure of each bank.
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