As of the end of May 2026, bank deposits in Vietnam have reached a historic high of 10.82 trillion VND, according to the latest report from the State Bank of Vietnam (SBV). This marks an increase of 108.197 trillion VND compared to the previous month and a 4.76% rise since the end of 2025. The consistent growth in deposits has been attributed to the sustained high interest rates offered by banks.

Since October 2025, the total amount of deposits from the public has remained above 10 trillion VND, reflecting a robust confidence in the banking sector. In addition to individual deposits, the total deposits from economic organizations also reached over 6.16 trillion VND by the end of May, although this figure showed a slight decrease of 0.2% compared to the end of 2025.

The overall payment means, excluding securities, amounted to more than 19.97 trillion VND at the end of May 2026, which is a 2.73% increase from the previous year. The high interest rates have been a significant factor supporting the continued growth of deposits, setting new records in the banking sector.

According to the SBV, the average interest rates for June 2026 are as follows: 0.1-0.2% per annum for demand deposits and those with terms under one month; 4-4.6% for deposits with terms from one month to under six months; 6.1-7.6% for six to twelve months; 5.9-7.3% for over twelve months to twenty-four months; and 7.1-7.8% for terms exceeding twenty-four months. Notably, many banks are offering interest rates of 9% or higher for deposits of 500 million VND and above.

On the lending side, the average interest rates for new and existing loans range from 8.1% to 10.5% per annum. The average short-term lending rate in VND for priority sectors is approximately 3.9% per annum, which is below the maximum short-term lending rate set by the SBV at 4% per annum. For USD loans, the average lending rate is between 4.1% and 5.4% per annum.

In related news, VIB Bank has reduced its workforce by nearly 7% in the first half of the year, focusing on developing a high-quality workforce with increased productivity.