Banks begin to cut deposit rates
The Vietnam Bankers Association previously proposed a cap of 9.5 per cent per annum on deposits.
Deposit rates heading upwards
Deposit rates rose an average of 3 basis points in the first quarter of 2022 compared to the fourth quarter of 2021. Average lending rates fell 8 basis points. VDSC Securities estimates that average growth of total net interest income in the banking sector was 21 per cent in the first quarter, with total operating income up 36 per cent and pre-tax profit 70 per cent.