Savings have continously increased despite deposit interest rate declines. — Photo vinacorp.vn

HCM CITY (Biz Hub) — Deposit and lending values in HCM City experienced their biggest increase since the beginning of the year with commercial banks here recording a significant jump for the month of June, according to the local Statistics Department.

Total deposits reached VND1,054 trillion (US$50.2 billion) at the beginning of July, a 1.7 per cent month-on-month increase and up 11 per cent from last year.

Deposits in foreign currencies accounted for nearly 16 per cent, down 18.2 per cent year-on-year; and deposits in dong represented about 84 per cent, up 19 per cent.

Total outstanding loans reached VND894.6 trillion ($42.6 billion) at the beginning of July, increasing 1.9 per cent month-on-month and rising by 16.7 per cent from the figure of the same period last year.

Foreign currency loans made up 18 per cent, down 20.2 per cent year-on-year; and dong loans accounted for 82 per cent, increasing nearly 30 per cent.

According to the department, State-owned banks posted the highest deposit increase in June, at 2.63 per cent; while joint-stock banks showed the highest lending growth, at 2.57 per cent.

People's savings had continuously increased for the last few months despite deposit interest rate declines, it said. — VNS