SBV has reported that the credit growth rate in 2022 was 14.5 percent, higher than the figure at the beginning of the year, but still 1.5 percent lower than the rate after the adjustment.

As such, total outstanding loans reached VND12 quadrillion in 2022.

The 2022 financial reports of the 10 largest banks showed that their total outstanding loans were VND6.3 quadrillion, an increase of 16 percent over 2021, which accounted for 50 percent of the total loans of the entire banking system.

However, the list does not include Agribank, the bank with the largest network, because the bank has not released its Q4/2022 financial report.

BIDV is leading the market with outstanding loans of VND1.45 quadrillion.

The second and third positions belong to VietinBank (VND1.234 quadrillion) and Vietcombank (VND1.111 quadrillion).

The other seven banks include 1/ Military Bank (VND435.190 trillion) 2/ Techcombank (VND411.369 trillion) 3/ ACB (VND410.153 trillion) 4/ Saigon-Hanoi (VND365.046 trillion) 5/ VPBank (VND361.673 trillion) 6/ HDBank (VND247.017 trillion) and 7/ VIBBank (VND231.944 trillion).

Meanwhile, total deposits at the 10 banks in 2022 were VND5.66 quadrillion, an increase of 10.45 percent over 2021.

BIDV continued to be the bank with the largest capital mobilization market share with VND1.36 quadrillion worth of deposits. The other two banks which also had deposits of over VND1 quadrillion were VietinBank (VND1.159 quadrillion) and Vietcombank (VND1.136 quadrillion).

The order of the remaining seven banks among the top 10 were: 1/ Military Bank (VND389 trillion) 2/ ACB (VND380 trillion) 3/ Techcombank (VND316 trillion) 4/ SHB (VND324.289 trillion) 5/ VPBank (VND239.128 trillion) 6/ HDBank (VND183.291 trillion) and 7/ VIBBank (VND173.702 trillion).

Reports by commercial banks showed that interest rates have been stable since February 2023. The new average lending interest rate has decreased by 0.4 percent per annum compared with late 2022. 

Since March 6, banks have eased deposit interest rates. The ‘big four’ have eased the interest rates by 0.2 percent per annum since February 27, applied to 6-12-month deposits. Meanwhile, joint stock banks have cut the interest rates by 0.5 percent.

However, banks have mainly adjusted interest rates of 6-month and longer term deposits, while shorter-term deposit interest rates remain unchanged, at 6 percent per annum.

Banks have entered their shareholders’ meeting season. VIB proved to be the first bank to organize the meeting, slated for March 15.