BIDV leads Vietnam's deposit market, with Agribank strongest in personal deposits in 2025

The fundraising picture for Vietnam’s four state-owned deposit-taking banks (the Big4) in 2025 reached record highs, with clear differentiation in how customer deposits were structured. By the end of 2025, the banking system had two banks surpassing 2 quadrillion VND in customer deposits: BIDV and Agribank. While BIDV remained the largest deposit-taking bank overall, the bank most relied on by the public for deposits showed a different pattern when examining the customer base.

Deposit scale and growth across the Big4

BIDV maintained its position as Vietnam’s largest deposit-taking bank. By the end of 2025, BIDV reported more than 2.22 quadrillion VND in customer deposits, up 13.8% year-on-year. Its funding structure remained relatively balanced between corporate and individual customers. Deposits from resident customers exceeded 1.1 quadrillion VND, accounting for 45.6% of total deposits.

Agribank’s surge in resident deposits

The most notable development in the personal customer segment in 2025 was Agribank’s performance. Agribank ranked second in total mobilization, with more than 2.16 quadrillion VND, reflecting strong attraction of idle funds from residents. According to its financial statements, deposits from business entities declined by 28%, while deposits from individuals increased.

In 2025 alone, residents deposited more than 389 trillion VND into Agribank, equivalent to 28% growth. This contributed to total personal deposits of more than 1.78 quadrillion VND, surpassing other banks in the system.

2026: Deposit-rate competition intensifies

In 2026, competition to mobilize funds among banks has become more dynamic as the environment for personal deposit rates rose. After a period of maintaining low rates, the Big4 adjusted recently, while many private banks raised rates above 8% per year, and in some cases to around 9% per year.

Under widely advertised rates, Agribank, BIDV, VietinBank, and Vietcombank offer 6.5% per year for a 24-month term and 5.9% per year for a 12-month term. However, with promotional programs that add extra interest, the effective rate for personal deposits can reach 7.5–7.9% per year.

Policy and market drivers behind rate pressure

Deputy Governor Pham Thanh Ha of the State Bank of Vietnam said the upward pressure on deposit rates reflects multiple factors. These include potential impacts of systemic deposit growth for credit institutions and competition from other investment channels, which pushed deposit rates higher since late 2025 after a period of stability.

The Deputy Governor also noted that lending growth exceeding deposit growth points to strong credit demand to meet the economy’s capital needs, particularly in the context of two-digit growth targets.

State Bank guidance and bank implementation

The State Bank of Vietnam indicated it would closely monitor domestic and international economic developments and market rates to adjust policy rates in line with macroeconomic conditions, inflation, and monetary policy objectives. It also emphasized the flexible use of tools to support liquidity for credit institutions and continued strict disclosure of lending rates by banks.

For banks, the State Bank said they should strictly implement measures under letter 2342/NHNN-CSTT dated 30/3/2026 to stabilize the lending-rate environment while maintaining a balance between credit growth and deposit growth, avoiding disruptions to market rate levels.