Which bank sees the fastest deposit increase?

17-Aug-2019 Intellasia | Tri Thuc Tre | 6:02 AM Print This Post

According to statistics gathered from 25 banks which have announced the second quarter (Q2) financial statements, by the end of June, their total customer deposits reached more than 5,590 trillion dong, up by 7.17 percent compared to the beginning of the year.

In particular, the customer deposits at three big banks continued to expand to nearly 2,780 trillion dong, accounting for 50 percent of the total mobilisation of 25 banks. It is estimated that this amount of deposits also accounted for more than 30 percent of the total customer deposits of the entire credit institution system.

Commercial Joint Stock Bank for Investment and Development of Vietnam (BIDV) continued to lead in customer deposits among joint stock banks with 1,060 trillion dong, up by 7.09 percent compared to the beginning of the year.

Meanwhile, Commercial Joint Stock Bank for Foreign Trade of Vietnam (Vietcombank) also saw a sharp increase of 8.6 percent in customer deposits, reaching 870 trillion dong. Notably, Vietcombank surpassed Commercial Joint Stock Bank for Industry and Trade of Vietnam (VietinBank) after the first half (H1) of 2019. The capital mobilisation of VietinBank in H1 only rose up by 2.55 percent to nearly 847 trillion dong. As still being unable to increase capital, VietinBank’s credit growth must be slowed down and that might be the reason why the bank had to curb deposit growth.

Except for VietinBank, most large banks recorded higher growth in customer deposits than average level. For example, Saigon Commercial Joint Stock Bank (SCB) had the fourth highest deposit size in H1 2019 with more than 419 trillion dong, up by 8.94 percent. Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) posted a deposit increase of up to 11.12 percent. Meanwhile, customer deposits of Vietnam Technological and Commercial Joint Stock Bank (Techcombank) and Vietnam Prosperity Commercial Joint Stock Bank (VPBank) increased by respectively 9.36 percent and 15.52 percent. Vietnam International Commercial Joint Stock Bank achieved the highest growth in customer deposits of 16.84 percent, reaching 99.158 trillion dong.

Meanwhile, in the opposite direction, most small banks had a very slow deposit growth. Some of them even posted negative growth such as An Binh Commercial Joint Stock Bank (ABBank, negative 3.89 percent), Petrolimex Group Commercial Joint Stock Bank (PGBank, negative 7.82 percent), Saigon Commercial Joint Stock Bank for Industry and Trade (Saigonbank, negative 0.61 percent).

For Viet Capital Commercial Joint Stock Bank, (VietCapitalBank), although the bank’s deposit interest rates are always in the top, customer deposits only inched up by 2.34 percent to more than 34 trillion dong in H1 2019. The capital mobilisation of Kien Long Commercial Joint Stock Bank (Kienlongbank) only grew by 5.32 percent to 30.759 trillion dong.

Among the small banks, only National Citizen Commercial Joint Stock Bank (NCB) recorded more than 10 percent growth in customer deposits with nearly 54 trillion dong in absolute number, up by 14.39 percent.

 


Category: Finance, Vietnam

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