Capital mobilization by banks in Ho Chi Minh City reached over VND4 quadrillion ($156 billion) in 2024, according to the State Bank of Vietnam (SBV)’s HCM City Branch.

The figure marked a record year-on-year growth of 15.28% over the past five years. The growth rate in 2023, 2022, 2021 and 2020 was 7.7%, 4.6%, 8.1% and 14.1%, respectively.

Saving deposits by individuals accounted for 35.5% of the total amount of deposits, soaring 7.92% compared to the end of 2023.  

Total outstanding credits were estimated at more than VND3.94 quadrillion ($154 billion), surging 11.34% against the end of 2023.

The branch’s director Nguyen Duc Lenh said capital mobilization has contributed to the city’s socio-economic growth and met the economy’s capital demand.