<p>Individuals’ deposits at commercial banks in the first quarter of 2023 soared by around VND415 trillion, the highest level in over 10 years, despite lower interest rates, showed data from the State Bank of Vietnam (SBV).

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Individuals’ deposits at commercial banks in the first quarter of 2023 soared by around VND415 trillion, the highest level in over 10 years, despite lower interest rates, showed data from the State Bank of Vietnam (SBV).

Deposits soar in Q1 despite interest rate cuts

The Saigon Times Group is a leading Vietnamese media organization with prestigious business and consumer publications. After more than two decades of development, the group has built a good reputation through four groups of publications about the economy, business, and markets in Vietnamese and one group of English publications for foreign readers.

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Deposits soar in Q1 despite interest rate cuts

Deposits soar in Q1 despite interest rate cuts