According to the newly published financial statements of 28 listed banks, the total Current Account and Savings Account (CASA) in Vietnam was more than VND 1.5 quadrillion by the end of March 2023.
However, the CASA ratio varies greatly among the Vietnamese banks.
The data showed, Vietnam Maritime Bank (HoSE: MSB) ranked 9th out of the top 10 banks with the largest CASA balance by the end of March 2023, with VND 26.74 trillion, followed by TPBank with VND 26.09 trillion.
MSB also ranked 4th out of the top 10 banks with the highest CASA ratio of 21.21%. However, this represents a decrease of 8.45 percentage points from the beginning of the year.
Military Bank (MBB) topped the rankings with a CASA ratio of nearly 33% by the end of March. Techcombank ranked 2nd with a CASA ratio of nearly 31%, followed by Vietcombank with a CASA ratio of 28.73%.
Breaking through the noise to connect with consumers in the digital era has been more challenging than ever, especially after Covid-19 accelerated consumer digital adoption by at least two years.
MSB and retail banks globally must re-examine the Current Account and Savings Account customer acquisition strategies, including solving for disjointed customer journeys and personalizing offers and communications.
“With a broader and more permanent adoption of digital everything, banking acquisition strategies will be better served with the right data and insights that help MSB identify the right audiences and engage them with seamless and connected digital experiences.” Duong Ngoc Dung, Chief Market Officer at MSB told reporter.
“Defining Current Account and Savings Account customer experience is not easy, but it can be useful to understand the strategies and solutions that will necessary in order to achieve the benefits, and we did it”, Duong Ngoc Dung added.
Established in 1991 as Vietnam’s first commercial joint-stock bank, Vietnam Maritime Bank provides banking and related services, including savings and retail loan products, card products, payment services, e-banking services, and other services.