Savings rate hikes ease
HCMC – Commercial banks have been in a race to hike savings rates to attract clients, especially since the
HCMC – Personal savings at banks in 2022 grew strongly last year, according to the HCMC branch of the State Bank of Vietnam (SBV).
Data from the SBV, the country’s central bank, showed that capital raised by commercial banks in the city expanded an estimated 6%, with personal savings rising 9.2% against the year earlier.
According to Nguyen Duc Lenh, deputy director of the HCMC branch of the SBV, this was a positive sign given the unfavorable market conditions in 2022.
To some extent, putting money in a bank is a secure and effective investment, he said.
