Individual customers' deposits in Jan-Jul see record high

Source: VNS

19:32 | 05/10/2024 Finance Follow english.haiquanonline.com.vn on

Total deposits from individual customers at banks had reached 6.8 quadrillion VND (276.3 billion USD) in the first seven months of this year, marking the highest level ever, according to the latest data released by the State Bank.

*Total deposits from inpidual customers at banks reach 6.8 quadrillion VND (276.3 billion USD) in the first seven months of this year (Photo: VNA)*

Specifically, citizens' household deposits increased by 305.6 trillion VND compared to the end of 2023, equivalent to a growth rate of 4.68%. Compared to the same period last year, the deposit amount rose by an additional 448.8 trillion VND.

Despite significant and prolonged declines in deposit interest rates, household deposits have shown steady growth over the past two years. Experts said that this trend reflects the cautious attitude of the public in response to economic uncertainties and investment channels such as stocks or real estate.

On the contrary, deposits from economic organisations in banks showed a slight decrease of 1.07% compared to that in late 2023 to 6.76 quadrillion VND.

According to insiders, this shift may be driven by businesses seeking higher returns through new investment channels, rather than keeping capital in banks with low interest rates./.

Source: VNS

en.vietnamplus.vn

More News

FED cuts interest rates: A good opportunity for Vietnam’s exports and investments

11:59 | 05/10/2024 Finance

VCN - The U.S. Federal Reserve (FED) has decided to cut interest rates and announced plans for further reductions until 2026. According to Dr. Can Van Luc, Chief Economist at BIDV and a member of the National Financial and Monetary Policy Advisory Council, the FED's shift in monetary policy has presented a great opportunity for Vietnam's exports and investments.

Developing smart cities through open banking ecosystem

11:57 | 05/10/2024 Finance

VCN - Building smart cities is an inevitable development trend, requiring synchronous digital transformation of many fields, including banking and finance.

Vietnam’s stock market likely to reach 9 million accounts by 2025

13:39 | 04/10/2024 Finance

Vietnam is on track to reach 9 million stock trading accounts by 2025 and 11 million by 2030, CEO of Vietnam Report JSC Vu Dang Vinh has said.

Managing price effectively, reducing pressure on inflation

12:09 | 04/10/2024 Finance

VCN - Timely and effective price management helps control the consumer price index (CPI) and inflation in accordance with the set target.

Important step to soon upgrade stock market

10:21 | 03/10/2024 Finance

VCN - According to experts, the Ministry of Finance's issuance of Circular No. 68/2024/TT-BTC dated September 18, 2024 is an important step in the process towards the goal of improving the quality of the Vietnam’s stock market.

Accelerate implementation of solutions to disburse public investment capital

09:25 | 02/10/2024 Finance

VCN - Facing the impact of storm No. 3 on economic growth, many experts continue to believe that public investment will play a key role in economic recovery and growth for the entire year of 2024. However, there is only one quarter left until the end of 2024. The target of disbursing at least 95% of investment capital is facing many difficulties.

E-commerce platforms may declare and pay taxes on behalf of traders

08:21 | 01/10/2024 Finance

VCN – At the press conference for the third quarter of 2024 hold by the Ministry of Finance on September 27, the representative of the General Department of Taxation discussed contents related to tax management.

Ministry of Finance responds to information on proposal to tax real estate

08:20 | 01/10/2024 Finance

VCN - Responding to the hot issue of public concern regarding the proposal to tax real estate transactions to prevent speculation in the real estate market, at the press conference for the third quarter of 2024 held by the Ministry of Finance on September 27, Deputy Minister Nguyen Duc Chi gave the Ministry’s viewpoint.

Maintain smooth operations of Customs, Tax and Treasury to support businesses and people affected by storm No. 3

08:19 | 01/10/2024 Finance

VCN – The Ministry of Finance has requested to maintain smooth operations of Customs, Tax, Treasury agencies and national reserve units to support production and business activities and people after the storm, Deputy Minister of Finance Vo Thanh Hung said.