Analyst Pin-board Banking sector – Expected recovery in credit – deposit growth and ample liquidity
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· The expansion of credit and deposit in the economy was in line with our expectations regarding pace and driver. As the banks update on their guidance, we review and specify our target range and average expected value of the industry’s credit and deposit growth rate. Particularly, our projections for credit and deposit growth are revised to 14.3% and 11.8% respectively. · Despite several disruptions, the situation on the interbank market falls within our expected scenarios, including the movement of rates and market liquidity. We continue to observe ample VND and USD liquidity in the market and expect that the level of interbank rates will slightly ease if those disruptions are resolved or mitigated. We keep our view that deposit rate hikes will occur in the second half of 2022. |
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