View of a SeABank’s transaction office. SeABank impressed when increasing its CASA ratio from 10 per cent to 17.3 per cent in just three months. — VNA/VNS Photo
Q3 2023 financial statements of commercial banks have revealed the top 10 banks in terms of the current account savings account (CASA) ratio as of September 30, 2023.
The banks are MB, Techcombank, Vietcombank, MSB, ACB, VietinBank, BIDV, TPBank, SeABank, and Sacombank.
MB continued to lead the banks by recording a CASA ratio of 36 per cent at the end of Q3 2023. Despite being at the top, MB's CASA ratio is showing signs of going down, with a decline of 1.1 per cent compared to the end of Q2 2023 and 4.7 per cent compared to the beginning of this year.
In fact, not only MB, but many other banks also witnessed a decrease in demand deposit rates this year. The CASA ratio at Techcombank decreased by 3.3 per cent in the first half of 2023 to 33.6 per cent and remained flat in Q3 2023. Although there have been more positive changes since Q2 2023, Techcombank's CASA ratio is still very far from returning to the highest level of 50 per cent that Techcombank once achieved.
According to Techcombank, in the context that the interest rate environment has returned to normal and liquidity of the banking system is more abundant, customers still tend to deposit term savings because investment opportunities in asset types currently remain limited, largely due to concerns about uncertainties in the domestic and global economic outlook in Q4 2023 and next year.
Vietcombank ranked third in terms of CASA ratio, reaching 31.3 per cent at the end of September 2023. Vietcombank's indicator has improved compared to the end of the second quarter as it increased by 1.1 per cent. Currently, Vietcombank is still the bank with the largest demand deposit balance in the banking system, with more than VNĐ397 trillion.
MSB followed Vietcombank with a CASA ratio of 27.7 per cent at the end of Q3 2023. The ratio was flat compared to Q2 2023 and decreased by 3.4 per cent compared to the beginning of this year. Previously, in 2022, MSB once surpassed Vietcombank to rank in the top 3 in terms of CASA in the banking system.
Ranked fifth in the list is ACB with a CASA ratio of 20.6 per cent. The rate is flat compared to Q2 2023 and down 1.7 per cent compared to the beginning of this year.
VietinBank closely followed ACB with a CASA ratio of 20 per cent in Q3 2023. Notably, VietinBank is also a rare large bank whose CASA ratio has not decreased this year. This bank recorded a fairly good growth in demand deposit balance of 4.8 per cent, equivalent to the growth rate of term deposits. Accordingly, VietinBank's CASA ratio remained at 20 per cent as of the end of 2022.
BIDV ranked seventh in the list, recording a CASA ratio of 18.3 per cent, up 1.3 per cent compared to Q2 2023 but down 0.5 per cent compared to the end of 2022.
Notably, all the last three banks in the top 10 recorded a CASA ratio of 17.3 per cent, with SeABank impressing by increasing its CASA ratio from 10 per cent to 17.3 per cent in just three months.
Specifically, the demand deposit balance at SeABank doubled in the third quarter of 2023 to more than VNĐ23.6 trillion, which helped the bank jump from 15th to 8th in terms of CASA in the banking industry.
Based on the financial statements of 27 listed banks, the current CASA ratio has a huge difference between big and small-sized banks. While big banks had a high CASA, the rate for small banks was only around 5 per cent. — VNS