Banks boost capital mobilization at year-end

To prepare for the possible sharp increase in loan demand at the end of the year, banks are continuously implementing many capital mobilization programs, from increasing deposit interest rates to attract deposits, to issuing bonds, mobilizing capital from foreign organizations...

Residential deposits increased by nearly 10%

According to the latest data from the State Bank, people's deposits in the banking system increased by nearly 10% compared to the beginning of the year, reaching over VND7,748 trillion, the highest increase in 5 years (compared to the growth rate of the same period in previous years). This data shows that people continue to choose savings channels to preserve capital, even when deposit interest rates are only below 6%/year.

The amount of residential deposits increased. Illustrative photo

Although the amount of savings deposits has continuously increased, banks still seek to attract capital in many forms such as issuing bonds, increasing charter capital, and expanding the network of mobilizing savings from the population, thereby strengthening financial capacity and ensuring sustainable lending ability in the last months of the year.

For example, the Joint Stock Commercial Bank for Foreign Trade of Vietnam ( Vietcombank ) launched the program "Save today - Win billions immediately" with a total prize value of 3 billion VND, encouraging customers to save and use digital channels.

Or like Vietnam Thuong Tin Commercial Joint Stock Bank (Vietbank) has a program "Saving firmly, receiving thousands of fortunes" worth 5 billion VND.

Some other banks such as Saigon – Thuong Tin Commercial Joint Stock Bank (Sacombank), Saigon – Hanoi Commercial Joint Stock Bank (SHB ), Loc Phat Commercial Joint Stock Bank (LPBank)… issue deposit certificates to diversify capital mobilization channels; at the same time, optimize costs and meet medium and long-term capital structure requirements. Deposit certificates issued by the above banks are quite diverse, can be from only a few million VND, so they are suitable for many customer groups.

Continue to strive to reduce lending interest rates

Many other banks not only promote capital mobilization from individuals and organizations, but also attract capital from foreign investment funds. Recently, Nam A Commercial Joint Stock Bank (NamABank) has successfully mobilized international capital from Symbiotics Investments SA Fund Management Company (Symbiotics), bringing the total capital mobilized from Symbiotics since the beginning of the year to more than 20 million USD.

Accordingly, Nam A Bank will prioritize the above funding for green credit programs, especially supporting individual and corporate customers to access preferential capital to invest in business and use electric vehicles - an increasingly popular green consumption trend, playing an important role in the national strategy on carbon neutrality.

At the same time, international capital sources are used to finance priority areas such as climate change adaptation, sustainable agriculture , support for small and medium enterprises, etc.

Some banks seek to attract capital through savings mobilization with quite good interest rates. For example, at Asia Commercial Bank (ACB), customers who deposit 200 billion VND or more in savings enjoy a special interest rate of 6%/year.

Or with Vikki Bank Digital Bank (a bank belonging to the ecosystem of Ho Chi Minh City Development Joint Stock Commercial Bank - HDBank), the special interest rate for a 13-month term is listed at 7.8%/year, with a minimum deposit of VND999 billion. Meanwhile, HDBank applies a special interest rate of 7.7%/year for a 12-month term and 8.1%/year for a 13-month term, 2.2-2.4 percentage points higher than the normal interest rate. The accompanying condition is a minimum deposit balance of VND500 billion.

Bac A Commercial Joint Stock Bank (Bac A Bank) also listed an interest rate of 6%/year for deposits of VND1 billion or more, applied for terms of 18-36 months. Meanwhile, at An Binh Commercial Joint Stock Bank (ABBank), the highest special interest rate is up to 9.65%/year for a term of 3 months, applied to customers depositing VND1,500 billion or more.

For regular deposits, the highest interest rate is about 6%/year, applied to long terms.

Experts say that from now until the end of the year, the mobilization interest rate level may increase, as the demand for capital loans of enterprises often increases sharply during the peak production and consumption period at the end of the year, forcing banks to increase mobilization to meet credit sources.

Along with that, the increasing demand for spending from people and the psychology of withdrawing money for shopping also affect the deposit flow. Therefore, banks seek to increase deposit interest rates to retain old customers as well as attract new customers.

In fact, although interest rates have been low recently, the amount of money deposited in banks has still reached a record high, showing that in the context of other investment channels having potential risks, savings are still a safe and preferred choice.

The State Bank's leaders affirmed that the State Bank will continue to direct credit institutions to reduce operating costs and strive to lower lending interest rates; direct banks to publish information on lending interest rates on the bank's website to provide information for customers to refer to when accessing loans; implement solutions to stabilize deposit interest rates, reduce lending interest rates, and be willing to share part of the profits to support people and businesses.

Source: https://hanoimoi.vn/ngan-hang-day-manh-huy-dong-von-cuoi-nam-720625.html