End of the year, banks suddenly "rush to raise funds."

In the past month,
25 banks in Vietnam have collectively increased their deposit interest rates,
with 6-month terms exceeding 7%,
and 12-month terms surpassing 8%.
This is not an isolated phenomenon, but a systemic change.
1. How aggressive is this round of interest rate hikes?
Let's look at some key figures:
6-month term
VIB: up to 7.4%
NCB: up to 7.9%
Vikki Bank: 7.7%+
VCBNeo: 7.3%
12-month term
PVcomBank: up to 8.3%
NCB: 8.0%
MBV (large deposits): 7.3%
The focus is not on any single bank, but on
large, medium, and small banks all increasing rates simultaneously and multiple times.
2. Why is there a "collective price increase" at the end of the year?
A one-sentence summary:
Banks lack funds, and what they lack is "immediately usable money."
Let's break it down.
① Lending has grown too fast, and funds are running out
As of the end of November,
credit growth: +16.56%
deposit growth: +12.05%
Loans are growing faster than deposits.
And the market generally predicts
annual credit growth could reach 18%–20%.
Banks need to meet annual targets and secure next year's quotas,
if they don't replenish their funds now, they will be passive later.
② Spring Festival effect: cash demand surges
Experts mention a very realistic factor:
Before and after the Lunar New Year,
cash usage peaks
distributing year-end bonuses
Spring Festival consumption
corporate settlements
especially in northern regions
The banking system must prepare a large amount of liquidity.