Capital mobilization and credit score progress of the business banking system in Ho Chi Minh Metropolis elevated slowly within the context of the extended Covid-19 epidemic affecting manufacturing and enterprise actions of enterprises, the demand for loans decreased. and the idle money circulation of the inhabitants flowing into the banking system can be affected.
In keeping with the newly introduced information of the State Financial institution of Vietnam, by the tip of June 2021, whereas the deposits of financial organizations into the banking system reached 5.11 million billion dong, a rise of 4.78% in comparison with the tip of the 12 months. Final 12 months, individuals’s deposits reached VND 5.29 million billion, up 2.94% in comparison with the tip of final 12 months. Within the first months of this 12 months, the inhabitants’s deposit into the banking system didn’t have a major progress. That is the bottom progress charge of residential deposits into the banking system in comparison with the identical interval in earlier years.
Leaders of some business banks acknowledged that not solely the low deposit rate of interest degree but in addition for banks, the supply of capital mobilized however lending isn’t straightforward within the context of difficult epidemics. Many banks are additionally beneath stress to scale back enter prices to scale back lending charges and help companies and the financial system, so they can not keep deposit charges at a excessive sufficient degree to draw depositors.
From one other perspective, the extended Covid-19 epidemic additionally considerably affected individuals’s revenue and idle money circulation. Many individuals have to make use of gathered cash to spend, affecting financial savings deposits at banks. The World Financial institution’s Vietnam macroeconomic replace report for August 2021 additionally lately said that the extended influence of the pandemic on households has develop into clearer. In 2021, about 30% of households may have decrease incomes than they did final 12 months.
Not too long ago, SSI Securities Firm mentioned that lending rates of interest could lower barely within the brief time period when banks concurrently introduced to scale back mortgage rates of interest to help companies. The State Financial institution additionally considers and adopts insurance policies to encourage or prohibit some contents in credit score actions of business banks by 2022 for credit score establishments that don’t scale back precise mortgage rates of interest. Due to this fact, the deposit rate of interest isn’t anticipated to fluctuate a lot.