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According to the State Bank of Vietnam (SBV) – Ho Chi Minh City Branch’s data, as of the end of October 2024, the balance of household savings deposits at credit institutions in the city exceeded 1.4 quadrillion dong, accounting for approximately 36.8%-38% of total deposits.
Mr. Nguyen Duc Lenh, Deputy Director of SBV’s Ho Chi Minh City Branch, stated that household savings deposits are a stable source of funds and represent the savings of the people. Therefore, utilizing this capital for lending to promote production and business development and boost economic growth is of great significance to the mission of the banking sector and the effectiveness of monetary and credit policies.
According to the Ho Chi Minh City Branch of the SBV, in the last three months, capital mobilization in the city has been on a positive growth trend, with an average growth rate of over 1.5%. Deposits from economic organizations and individuals (including term and non-term deposits) increased by 8.3% compared to the end of 2023.
Mr. Nguyen Duc Lenh, Deputy Director of SBV’s Ho Chi Minh City Branch, said that in the context of the banking sector always performing the dual task of macroeconomic stabilization and economic growth support, the growth of capital mobilization through the banking system is of great importance and reflects positive signals.
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