The total Current Account and Savings Account (CASA) at 28 banks at the end of March 2023 was more than VND 1.5 quadrillion, down nearly 11% compared to the beginning of the year.
According to the newly published financial statements of 28 listed banks, all banks recorded a decrease in Current Account and Savings Account, except for KienLongBank, which saw positive growth.
Specifically, the total CASA at banks is over VND 1.5 quadrillion, down nearly 11% compared to the beginning of the year. Meanwhile, at KienLongBank, CASA increased by VND 254 billion in the first three months to more than VND 2.3 quadrillion, equivalent to an increase of 12.37%.
Top 10 Banks with the Largest CASA
In terms of Current Account and Savings Account balance, Vietcombank still holds the lead with more than VND 368.1 trillion. This number decreased by 8.45% compared to the beginning of the year. Currently, CASA accounts for about 28.7% of total deposits at this bank.
Despite having the most deposits, BIDV’s Current Account and Savings Account ranked second. This “big man” holds VND 237.3 trillion in Current Account and Savings Account, down 12.28% compared to the beginning of the year.
VietinBank is in third place, with VND 223.13 trillion in Current Account and Savings Account, down 8.38% from the beginning of the year. Currently, CASA accounts for about 17.5% of the bank’s total deposits.
MB ranked fourth with VND 149.28 trillion in Current Account and Savings Account, down 10.6% compared to the beginning of the year.
With more than VND 118.2 trillion in CASA, down 3.96% compared to the beginning of the year, Techcombank is in fifth place. Currently, Current Account and Savings Account accounts for about 30.5% of the bank’s total deposits.
Following are ACB with VND 83.35 trillion in CASA, down 7.53% compared to the beginning of the year, Sacombank with VND 81.58 trillion in Current Account and Savings Account, down 4.94%, and the last three banks in the top 10 are VPBank with VND 44.7 trillion, MSB with VND 26.74 trillion, and TPBank with VND 26.09 trillion.
Top 10 Banks with the Highest Ratio of CASA to Total Deposits
The ratio of CASA (Current Account and Savings Account/total deposits) has a strong divergence among banks.
MB is at the top of the rankings with a CASA ratio at the end of March of nearly 33%, down about 6 percentage points compared to the beginning of the year. This bank has overtaken Techcombank’s CASA ratio by the end of 2022 and aims to maintain its top position in this ratio in 2023.
Techcombank recorded a CASA ratio of nearly 31% and came in second place. The ratio of CASA to total deposits of this bank decreased by about 3.82 percentage points compared to the beginning of the year.
At Vietcombank, the ratio of CASA to total decreased from 32.34% to 28.73%.
MSB followed with a CASA to total customer ratio of 21.21%, which represents a decrease of 8.45 percentage points from the beginning of the year.
ACB maintained its position in fifth place with a CASA to total customer ratio of 19.72%, down 2.06 percentage points compared to the beginning of the year. The decrease in this ratio is mainly due to the sharp increase in deposits in both volume and proportion in total deposits.
The remaining five banks on the ranking of the largest CASA-to-total-deposit ratio are VietinBank (17.54%), Sacombank (17.04%), BIDV (15.85%), PGBank (15.34%), and VPBank (13.5%).
According to experts, banks have implemented various measures to attract Current Account and Savings Account such as fee waivers and reductions, increasing demand interest rates, and enhancing digital channels. However, due to the difficult economic context and high savings interest rates, people and businesses have transferred most of their deposits from current accounts to savings accounts from the fourth quarter of 2022 to the beginning of the first quarter of 2023.
In the first quarter of 2023, total Current Account and Savings Account at 28 banks increased by 300.9 trillion VND, with term deposits being the main driving force behind the increase in total deposits at banks. Specifically, this target increased by more than 464 trillion VND in the first quarter of 2023.
Banks expect that CASA will grow in the near future as people’s accumulation recovers and economic activities and investment become more active again. This is also an essential indicator for banks. The higher the CASA ratio, the lower the cost of capital, which provides many advantages to ensure NIM and increase competitiveness in the market.