Vietnam Big 4 Banks Raise Deposit Rates: BIDV Leads with 1.2% Hike
This Aveluro analysis covers BID (Đầu tư và Phát triển Việt Nam (BIDV), có tiền thân là Ngân hàng Kiến thiết Việt Nam trực thuộc Bộ Tài chính được thành lậ) in the Banking sector. The classified event type is sector sentiment, with negative sentiment and a deterministic market-impact score of 4.0/10. Aveluro classifies this story as a negative catalyst and risk signal for the affected stock. Source coverage came from CafeF - Tài chính ngân hàng, classified as a primary/top-tier source.
Key Facts
Caveat: Not investment advice. · How Aveluro computed this: Aveluro combines extracted event facts, source credibility, ticker context, and market data. Scores are deterministic research signals, not recommendations.
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Overview
Vietnam’s Big 4 state-owned commercial banks are raising deposit rates, with BIDV (HOSE: BID) leading a significant increase of up to 1.2% for 6-11 month terms. This signals intensifying competition for funds as credit growth outpaces deposit mobilization, pressuring bank net interest margins and potentially reshaping the sector’s funding landscape.
Key Facts
- BIDV raised online deposit rates for 6-11 month terms to 6.6% per annum, an increase of 1.2%.
- For 12-36 month terms, BIDV now offers 6.8% per annum, with 12-18 month terms up 0.9% and 24-36 month terms up 0.8%.
- After the adjustment, BIDV’s rates are now on par with most Big 4 peers, except Vietcombank which still offers 6.3% for 24-month terms.
- Vietinbank (CTG) offers 5.9% for 12-18 months and 6.0% for 24-36 months.
- Agribank (AGR) offers 4.0% for 6-11 months and 5.9-6.0% for 12 months and above.
- PVcomBank leads the market with a 10% rate for 13-month deposits, but only for deposits of at least VND 2,000 billion.
- HDBank offers 7.6% for 13-month deposits for balances of VND 500 billion or more.
What Happened
On June 1, BIDV announced a sharp increase in its online deposit rates, raising the 6-11 month term by 1.2% to 6.6% per annum. Longer-term rates also rose, with 12-18 month terms up 0.9% and 24-36 month terms up 0.8%, bringing the top rate to 6.8%. This move brings BIDV’s rates in line with most other Big 4 banks, except Vietcombank which still offers a slightly lower 6.3% for 24-month deposits.
The adjustment reflects growing pressure on banks to attract deposits as credit growth continues to outpace deposit growth. The article notes that non-state commercial banks are also maintaining competitive rates, with some offering high rates for large deposits. The trend suggests that the deposit rate competition is heating up across the banking system.
Market Context
On the announcement date (June 1), BID shares closed at VND 41,900 (-0.24%) on HOSE, with volume of 4.5 million shares. Other Big 4 stocks showed mixed reactions: VCB closed at VND 62,200 (+0.32%), CTG at VND 34,550 (-0.72%), and AGR at VND 14,550 (+0.69%). The sector is facing a tightening liquidity environment as the State Bank of Vietnam (SBV) maintains a supportive monetary policy for economic growth, but credit demand is rising faster than deposit mobilization.
Strategic Significance
The coordinated rate hike by Big 4 banks signals a structural shift in the banking sector’s funding dynamics. As credit growth accelerates to support economic recovery, banks are competing more aggressively for deposits, which could compress net interest margins (NIMs) in the near term. For BIDV, the move may help secure funding for loan growth but could pressure profitability if lending rates do not rise commensurately. The trend also highlights the SBV’s challenge in balancing credit expansion with inflation control. For investors, the rising deposit rates may benefit savers but could weigh on bank earnings, particularly for banks with higher loan-to-deposit ratios.
What to Watch
- Q2 2026 earnings reports from BID, VCB, CTG, and AGR for NIM trends and deposit growth figures.
- SBV policy meetings for any changes to the refinancing rate or credit growth targets.
- Further rate adjustments by other commercial banks, especially private sector lenders like HDBank and VPBank.
- Credit growth data for June and July to assess whether loan demand remains robust.
- Foreign ownership limits and any changes in foreign investor appetite for Vietnamese bank stocks.