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Household deposits at credit institutions reached VND11.07 quadrillion (US$424.57 billion) at the end of June, up 7.1 percent from the end of 2025, according to the State Bank of Vietnam (SBV).

Household bank deposits have surpassed VND11 quadrillion for the first time. Photo: Le Thanh / Tuoi Tre

Household deposits increased by around VND242 trillion ($9.2 billion) in June alone and by about VND733 trillion ($27.9 billion) in the first six months of the year.

Meanwhile, deposits by economic organizations reached around VND6.37 quadrillion ($242 billion) at the end of June, up more than 3.09 percent from the end of 2025. Their deposits increased by around VND203 trillion ($7.7 billion) in June.

Household deposits therefore grew more than twice as fast as deposits by economic organizations in the first half of the year.

Credit growth puts pressure on interest rates

Total deposits by households and economic organizations reached around VND17.44 quadrillion ($663 billion) at the end of June.

Meanwhile, total money supply, including cash and bank deposits circulating in the economy, exceeded VND20.4 quadrillion ($775 billion), up 4.99 percent from the end of 2025.

Outstanding credit across the banking system topped VND20.15 quadrillion ($766 billion) as of July 29, up 8.38 percent from the end of 2025, the central bank said.

Can Van Luc, a member of the National Monetary and Financial Policy Advisory Council, said capital demand remained high, particularly as Vietnam targets double-digit economic growth.

The gap of around VND1.4 quadrillion ($53 billion) between deposits and outstanding credit is putting pressure on interest rates, he said.

Prime Minister Le Minh Hung on Thursday chaired a meeting with the SBV and credit institutions to review monetary policy and banking operations during the first seven months of the year and discuss measures for the coming period.

Hung asked the central bank to maintain appropriate policy interest rates and increase market liquidity to help credit institutions access lower-cost funding.

The SBV was also told to manage the exchange rate flexibly in line with market developments, coordinate monetary policy tools and intervene when necessary to stabilize the foreign exchange market, while continuing to closely manage the gold market.

Credit institutions must cut operating costs, stabilize interest rates and make substantive reductions in lending rates, the prime minister said.

Rising deposit rates attract savers

Household deposits have increased as some banks raise deposit rates, particularly for medium-term and long-term maturities.

Six-month deposit rates at some banks have reached nine percent per year, depending on deposit conditions and size.

N., a resident in Hanoi, said she deposited VND300 million ($11,400) at SHB earlier this week for six months at an annual interest rate of nine percent.

The rate for the same amount at the same bank is now around 0.1 percentage point higher than it was two weeks ago, she said.

Economist Nguyen Thuong Lang said the growth in deposits showed that banks remained an important channel for households to hold their money.

U.S. retail giant Target will source products from Vietnamese suppliers in home goods, household textiles, children's products, personal care, and beauty products at the Vietnam International Sourcing Expo 2026 in Ho Chi Minh City.

This will be Target's first participation in the Vietnam International Sourcing Expo 2026, scheduled to take place from September 3 to 5 in Ho Chi Minh City, according to the Ministry of Industry and Trade's Foreign Market Development Department.

U.S. retail giant Walmart has also confirmed that it will attend the event to source products from Vietnam.

Target's participation in the expo will give Vietnamese businesses an opportunity to showcase their manufacturing capabilities and connect directly with the retailer's sourcing team.

The retailer is seeking household and consumer products such as stuffed toys, ceramic products for food use, dinnerware, tableware, household textiles made from synthetic fabrics, and plastic kitchenware.

For children's products, Target is looking for baby bags, nursery and travel accessories, textiles, seasonal products, and products with customized designs.

In personal care and beauty, the retailer is interested in hair and scalp care products, bath and body care products, skincare products, beauty tools, make-up tools, accessories, and packaging products.

The company is also looking for household cleaning products, candles, air fresheners, and home fragrance products.

In the long term, Target is interested in products for pets, health and wellness, furniture, and equipment and supplies for babies and young children.

Target is seeking not only existing products but also suppliers capable of participating in product design and development, as well as original equipment manufacturing (OEM), original design manufacturing (ODM), and private-label production.

The retailer gives priority to suppliers with manufacturing facilities in Vietnam, large export volumes, and experience supplying international retail chains.

Experience working with companies such as IKEA, Walmart, Costco, Home Depot, Nitori, Amazon, Sephora, and Ulta would be an advantage.

Target currently operates more than 2,000 stores in the United States, generated about US$105 billion in revenue in 2025, and has more than 45 private labels.

The retailer sells a wide range of products, including fashion, beauty, household goods, furniture, and everyday essentials.

In addition to manufacturing capabilities, suppliers are expected to meet requirements related to quality management, product safety, social responsibility, environmental standards, raw materials, and product origins.

Vietnamese businesses seeking to connect with Target should prepare company profiles in English, product samples, information about their factories and production capacity, export markets, international customers, certifications, and OEM/ODM capabilities.

At the Vietnam International Sourcing Expo 2026, scheduled to be held at the Saigon Exhibition and Convention Center in Ho Chi Minh City, Vietnamese businesses will have opportunities to showcase their manufacturing capabilities, learn about buyers' requirements, and participate more deeply in the supply chains of major international markets through business-to-business matchmaking activities.

Cambodia's total trade reached $44.07 billion in the first seven months of 2026, up 21.3% year on year, with a trade deficit of US$2.44 billion.

Data from the General Department of Customs and Excise (GDCE) on Aug. 10 showed that exports increased 21.3% to $20.81 billion, while imports rose 21.4% to $23.26 billion, widening the trade deficit from $1.99 billion a year earlier.

Trade with China, Cambodia’s largest trading partner by value, increased 23.9% to $13.63 billion. Cambodian exports to China rose 24.2% to $1.1 billion, reflecting sustained demand for Cambodian goods. Meanwhile, imports from China grew 23.8% to $12.52 billion.

The U.S. remained Cambodia’s largest source of trade surplus, with bilateral trade surging 32.2% to $9.42 billion. Cambodian exports to the U.S. increased 30.6% to $9.05 billion, driven by strong growth in garments, footwear and other manufactured products.

Imports from the U.S. more than doubled, rising 87% to $377 million, pointing to expanding two-way trade ties.

Trade with Vietnam grew 8.2% to $5.35 billion. Cambodian exports to Vietnam rose 12.4% to $2.73 billion, while imports increased 4.2% to $2.62 billion.