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Giấy phép số 4978/GP-TTĐT do Sở Thông tin và Truyền thông Hà Nội cấp ngày 14 tháng 10 năm 2019 / Giấy phép SĐ, BS GP ICP số 2107/GP-TTĐT do Sở TTTT Hà Nội cấp ngày 13/7/2022.
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With a sizable portfolio of bank deposits, Bao Viet Group (BVH) has clear advantages in a rising interest-rate environment, creating room to significantly improve its financial income.
BVH’s audited financial statements show that the value of financial assets held to maturity as of December 31, 2025 reached VND 259.477 trillion, up sharply from VND 225.452 trillion a year earlier. Bank deposits accounted for the largest share of the portfolio.
Short-term deposits totaled nearly VND 119.624 trillion, up from VND 96.754 trillion at end-2024. BVH also held more than VND 26.951 trillion in long-term deposits. As a result, total bank deposits for the group reached about VND 146.500 trillion, representing over half of total assets.
According to the notes to the financial statements, time deposits in Vietnamese dong at BVH’s banking partners have maturities from more than 3 months to less than 1 year, with maximum interest rates reaching about 9% per year.
Given its insurance business, BVH typically invests premiums received in safe assets such as deposits and bonds to ensure the ability to meet future obligations. As a result, fluctuations in market interest rates can directly affect investment performance and the group’s profits.
Deposit rates have trended higher since late 2025 and into early 2026. Many banks raised rates on mid- and long-term maturities, with increases from around 5–6% to 7–8% per year, and even above 9% for large deposits.
Higher deposit rates can support BVH’s interest income in two ways: they increase returns from the existing deposit portfolio and also allow the group to reallocate its portfolio toward higher-yield instruments. With deposits in the hundreds of trillions, even a 1 percentage-point rise in rates could translate into a meaningful uplift in financial income.
In 2025, BVH’s financial activities continued to be a growth driver, contributing more than VND 11,000 billion in profit.
Revenue from BVH’s financial activities reached nearly VND 14,040 billion in 2025, up more than 10% from VND 12,689 billion in 2024. Interest income from deposits alone totaled VND 7,260 billion in 2025, up more than VND 600 billion from the previous year. This was the largest revenue source within financial activities, accounting for more than 50% of BVH’s total financial income.
Against a backdrop of sustained high interest rates, the role of financial activities—particularly interest income from deposits—is expected to remain a key driver of Bao Viet’s profit growth in the near term.
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