Bank

Resident Deposits in Credit Institutions Reach 8 Quadrillion Dong

Data from the State Bank of Vietnam reveals that, to date, resident deposits in credit institutions have reached approximately 8 quadrillion VND, marking a nearly 13% increase compared to the same period last year.

Administrator

30 October, 2025

On the morning of October 30th, the Banking Times hosted a seminar titled “Savings – The Inherent Strength in the Digital Era.”

Deputy Governor of the State Bank of Vietnam, Pham Thanh Ha, speaking at the seminar. Photo: Hoang Giap

Attending and speaking at the seminar, Deputy Governor of the State Bank of Vietnam (SBV), Pham Thanh Ha, stated that the seminar, held on the occasion of World Savings Day (October 31st), is a meaningful activity. It aims to promote a culture of savings, encouraging citizens to adopt healthy financial habits, safe accumulation, and effective investment.

Simultaneously, it raises awareness of the responsibility in utilizing savings efficiently, ensuring optimal use of resources from the state budget to the private sector and the entire society.

According to SBV data, as of now, resident deposits at credit institutions have reached approximately 8 quadrillion VND, a nearly 13% increase compared to the same period last year.

“This abundant financial resource has significantly contributed to maintaining Vietnam’s GDP growth at a high level, a highlight in the region,” said Deputy Governor Pham Thanh Ha. He added that this is a clear demonstration of the effectiveness of leveraging savings within the population as an inherent strength of the economy.

The Deputy Governor also noted that in the current volatile global economic landscape, with intensifying competition for resources, shrinking international capital, and rising capital costs, harnessing internal strength, savings, and efficient resource utilization is more strategically crucial than ever.

Therefore, savings are not merely a traditional value but have become a developmental requirement, a foundation for strengthening national financial resilience, ensuring macroeconomic stability, and enhancing the economy’s resilience.

Over the years, the SBV has proactively and flexibly managed monetary policy, supporting credit institutions in maintaining reasonable interest rates. This has facilitated access to capital for individuals and businesses, fostering the flow of savings and investment.

Overview of the seminar. Photo: HOANG GIAP

In the context of robust digital transformation, Deputy Governor Pham Thanh Ha believes that savings are not just about financial accumulation but also about efficiently utilizing resources for innovation and future investment.

Digital transformation has opened new development avenues for the banking sector: innovating business models, automating processes, optimizing operational costs, enhancing productivity, and reducing societal waste.

Currently, over 95% of citizen transactions are conducted through digital channels, with non-cash payments increasing by an average of 45% annually, saving society a substantial amount each year.

Banks continue to develop modern, convenient savings products such as online savings and flexible savings, enabling citizens to easily deposit savings anytime, anywhere, ensuring safety and transparency.

From a banking perspective, diversifying savings products on digital platforms not only increases the ratio of non-term deposits (CASA) – a crucial factor in reducing capital costs and improving operational efficiency – but also creates conditions for banks to further lower interest rates, supporting businesses and the economy.

“Only when savings become a habit, a cultural norm, and a governance principle, can we build a self-reliant economy, a sustainably developing society, and a prosperous, happy nation,” Deputy Governor Pham Thanh Ha emphasized.

NGOC DIEP

– 13:58 30/10/2025