According to, mobilization rates during the epidemic were below average


Mobilization rates during pandemic below average

Experts predict that deposit and operating interest rates are unlikely to fall further in the coming period. Statistics released by Baoyue Securities (HN:) (BVSC) in the recently released macro report for October 2023 show that in October 2023, the 12-month deposit interest rate (BVSC’s tracking table) averaged 5.61%, a decrease of 17% basis points (bps) compared to the September 2023 average, down 111 basis points from the same period last year and 282 basis points from the end of 2022.

With recent significant cuts, demand deposit rates are even below their lowest levels during the COVID-19 pandemic.

It can be said that in order to maintain the current low interest rates, starting from 2023, the National Bank has adjusted the operating interest rate four times in a row, with a reduction range of 0.5-2.0%/year, although world interest rates continue to fall. Increase and keep it high.

At the official telegram 990/CD-TTg deployment meeting recently organized by the National Bank, Mr. Fan Zhiguang, Director of the Monetary Policy Department of the National Bank, said that the continuous adjustment and reduction of operating interest rates is a flexible solution based on the policies of the National Assembly, the government and the Prime Minister, and based on the market The situation supports the economic growth recovery process, thus continuing to reduce economic growth. Market loan interest rates increase the opportunities for enterprises to obtain loans, and people contribute to promoting economic growth.

“Therefore, the market interest rate level has shown a sharp downward trend so far (the average interest rate of VND (HM:) for new transaction deposits and loans of commercial banks has dropped by more than 2.0%/year compared with the end of 2022). With four Due to the delay in the policy effect after the interest rate cut and the operational measures of the National Bank, it is expected that loan interest rates will continue to fall in the near future,” said Mr. Fan Zhiguang.

There was a time when banks posted a large number of interest rate signs as high as nearly 10%/year to attract customers to save money…


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