HANOI, Oct. 3 (Xinhua) -- Deposits of individual customers at banks in Vietnam reached an unprecedented 6.838 quadrillion Vietnamese dong (276.1 billion U.S. dollars) as of late July, according to the latest statistics from the State Bank of Vietnam.

By the end of July, individuals' deposits posted a rise of over 305.6 trillion dong (12.3 billion dollars), or 4.68 percent against the end of 2023, Vietnam News Agency reported Thursday.

The agency cited experts as saying that although deposit interest rates have dropped sharply and remained low for a long time, individual deposits have grown steadily over the past two years.

The increase of deposit interest rates which began in April 2024 has also attracted more deposits. This trend shows that citizens prefer to deposit money in banks as a way of preserving capital against market fluctuations and unpredictable risks, said the experts.

Meanwhile, corporate deposits were down 1.07 percent compared to the end of last year to over 6.7 quadrillion (270.6 billion dollars). Enditem

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