Total capital mobilization by credit institutions in Ho Chi Minh City has grown positively, creating favorable conditions for credit expansion and growth, according to a report from the State Bank of Vietnam's Ho Chi Minh City branch.

By the end of September 2024, total capital mobilization reached over VND3.8 quadrillion (over $149 billion), up 7.76% compared to the end of 2023 and 13.2% year-on-year.

Mr. Nguyen Duc Lenh, Deputy Director of the branch, noted that the positive growth in mobilized capital creates opportunities for credit institutions to diversify and effectively use debt assets, facilitating credit expansion and growth.

From a macroeconomic perspective, Mr. Lenh believes that the growth in capital mobilization through the banking system indicates positive capital circulation in the economy.

Investment, accumulation, and consumption are currently showing positive trends, he noted.

“All deposit segments, including those from economic organizations, individuals, households, and credit institutions issuing securities, recorded positive growth rates in the first nine months of the year,” said Mr. Lenh.

The positive growth in mobilized capital will create favorable conditions for credit institutions in the southern city to meet the year-end capital needs of businesses, cooperatives, and households, effectively supporting economic growth.