Furthermore, VIB and VietinBank are two of the few banks that can sustain positive NIM growth over the same time period by making efficient use of interbank capital. Meanwhile, VNDirect data shows that the NIMs of VPBank, Techcombank, LienVietPostBank, and TPBank continued to decline the most as the corporate bond and real estate markets still faced liquidity difficulties. The positive point is that demand deposits (CASA) of the whole industry have improved from 17.6% at the end of the first quarter of 2023 to 18.2% at the end of the second quarter of 2023 when deposit interest rates decreased continuously four times cut operating interest rates. "We expect the cost of capital to fall more sharply when the 3rd and 4th rate cuts taking place at the end of the second quarter of 2023 take full effect from the second half of 2023 onwards.