Which bank has mobilized the most idle money?

Many banks have increased capital mobilization faster than the general market, reporting strong profit growth in the first half of 2024.

The latest data from the State Bank up to the end of May 2024 shows that economic organizations' deposits flowing into the commercial banking system still decreased by 1.95% compared to the end of last year, reaching more than 6.7 million billion VND. Deposits from residents flowing into the system reached more than 6.7 million billion VND, up 2.8%. These figures are lower than the credit growth rate of about 6% by the end of June, according to the announcement of the State Bank.

Meanwhile, according to the reporter of Nguoi Lao Dong Newspaper, many commercial banks have a capital mobilization growth rate much higher than the industry average, when attracting a large amount of idle money flowing into...

Sacombank has just announced its business results report for the first half of this year with pre-tax profit reaching 5,342 billion VND, up more than 12% over the same period last year. This positive result comes from the positive growth rate of capital mobilization and lending, higher than the industry average.

Accordingly, Sacombank's total mobilization increased by 11% compared to the beginning of the year, of which 80% was from individual customers. Outstanding credit increased by 7% compared to the beginning of the year, mainly to meet capital needs for production and business. The bank has recovered and handled VND 4,822 billion of bad debt and outstanding assets, with the bad debt ratio at 2.15%.

Capital mobilization growth at some banks is much higher than the industry average in the first half of the year.

ACB is also a bank that has attracted idle cash flow from the market in the first half of this year. ACB's business results report shows that in the first 6 months of 2024, the bank achieved pre-tax profit of VND 10,500 billion, credit growth of 12.8% and capital mobilization increased by 6%, exceeding the industry average growth.

"ACB's credit reached VND 550,000 billion, up 12.8% compared to the beginning of the year, double the industry average and the highest growth rate in nearly a decade. Good growth in scale also helped ACB's interest income increase by 11% over the same period" - said a bank representative.

At BVBank, the bank said it had completed 76% of the annual profit plan in the first half of this year. The second quarter financial report recorded positive results thanks to cost optimization and increased retail efficiency.
In the first 6 months of the year, BVBank recorded pre-tax profit of VND153 billion, fulfilling 76% of the plan assigned by the shareholders' meeting. By June 30, capital mobilization from economic organizations and individuals increased by 5% over the same period.

Regarding credit activities, lending activities in the second quarter had many improvements with preferential interest rate loan packages and competitive customer access policies, helping credit increase by 10.6% over the same period.

Another bank with a higher capital mobilization growth rate than the industry average is TPBank. Reporting business results for the first 6 months of this year, TPBank increased capital mobilization by 5% and credit growth by 16% over the same period. TPBank's individual pre-tax profit is estimated at VND3,733 billion, up 10.3% over the same period last year.