Banks sit on mountains of cash: SBV official

There is still substantial room for credit growth, given the credit growth cap of 14% for this year. Therefore, the SBV affirmed that the lower-than-expected credit growth is not due to liquidity issues in the banking system. The consolidated financial reports for the second quarter of 2023, provided by several commercial banks, indicated a significant surge in deposits, cash, and cash equivalents (CCE) against the same period last year. The bank’s cash and cash equivalents amounted to VND325.5 trillion, which is over VND46 trillion higher than in the same period in the previous year. Furthermore, its cash and cash equivalents had totaled VND246.2 trillion as of the end of June.