Deposits into the banking system soar

However, in May only, the amount of deposits from organizations unexpectedly increased, almost reaching 1.5 billion USD.

Data from the State Bank also showed people depositing into the banking system more than 2 billion USD, an increase of about 1.6 billion USD compared to the previous month.

The increase in deposits was attributed to some banks raising interest rates to attract money to meet the demand for loans to stimulate the economy. In addition, banks must balance capital to ensure capital reserves high enough to meet safety standards.