return icon Vietnamnet.vn

Total assets of banks in Vietnam increase 9% to nearly US$520 billion

The total assets of commercial banks under state ownership accounted for 43.4% of the total of the banking sector, followed by joint stock commercial banks with 41.4%.

{keywords}
 

Total assets of Vietnam’s banking sector reached over VND12,000 trillion (US$518.65 billion) as of September 30, up 8.48% compared to the beginning of the year, according to the latest report of the State Bank of Vietnam (SBV).

Total assets of seven state-controlled commercial banks, including three major lenders namely Bank for Investment and Development of Vietnam (BIDV), Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank), and Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank), were reported at over VND5,200 trillion (US$224.74 billion), an increase of 7.12% over the beginning of the year and accounting for 43.4% of total assets in the banking sector. 

Meanwhile, joint stock commercial banks had total assets of a combined VND4,960 trillion (US$214.37 billion), an increase of 9.06% compared to the beginning of the year and making up 41.4% of the total assets. 

They were followed by joint venture banks and wholly foreign-owned banks with total assets of VND1,260 trillion (US$54.45 billion), up 11.36%; financial and leasing companies with VND190.79 trillion (US$8.24 billion), up 13.69%; co-operative banks with VND33.77 trillion (US$1.46 billion), up 4.15%; and people’s credit funds with VND124.11 trillion (US$5.36 billion), up 9.67%.

As of September 30, total own capital of the banking system reached VND882.49 trillion (US$38.13 billion), up 9.47% against the beginning of the year, equivalent to an increase of VND8.57 trillion (US$370.35 million).  

In terms of owner's equity, state-owned commercial banks are behind joint stock commercial banks with VND293.73 trillion (US$12.7 billion) against VND365.44 trillion (US$15.79 billion), posting growth rates of 9.36% and 8.06% compared to the beginning of the year, respectively. 

On the other hand, owner's equity of joint venture banks and wholly foreign-owned banks was VND183.75 trillion (US$7.94 billion), up 12.82%, and that of financial and leasing companies was VND35.73 trillion (US$1.54 billion).

As state-owned commercial banks’ growth rate of owners’ equity is higher than that of total assets (9.36% versus 7.12%), the capital adequacy ratio of these lenders increased from 9.52% from the beginning of the year to 9.78% at the end of September.

Meanwhile, growth rate of owners’ equity of joint stock commercial banks was lower than that of total assets (8.06% versus 9.06%), leading to their CAR going down from 11.24% in early 2019 to 10.81% at the end of September.

In terms of short-term capital for mid- and long-term lending, both state-owned and joint stock commercial banks have brought the rate under the acceptable limit of 40% according to law, reaching below 30% and 30.89%, respectively.

This would make the SBV’s request for the banking system, which was regulated in recent Circular No.22, to take such rate to below 30% in 2022 feasible. Hanoitimes

Ngoc Mai

Will zero-VND banks be audited?

Will zero-VND banks be audited?

Contributing their ideas to the 2020 auditing plan, National Assembly deputies said it is necessary to audit the three zero-dong banks to discover their real financial situation.

Profit of VN banks soar again

Profit of VN banks soar again

Reporting high profits, Vietnamese commercial banks have once again lifted concerns about profit growth limits.

MORE NEWS

Vietnamese cultural village to be built in Korea

A Vietnamese cultural village will be built in the county of Bonghwa, Gyeongbuk province, the Republic of Korea, heard a recent meeting between the county’s mayor Park Hyun-guk and Vietnamese Ambassador Nguyen Vu Tung.

PetroVietnam proposes US$19 billion oil refinery complex and national oil reserve

The Vietnam Oil and Gas Group (PetroVietnam) has proposed to the Government an investment in a refinery and petrochemical complex and a national reserve of crude oil and petroleum products in Long Son Petroleum Industrial Park.

27 senior Party members disciplined in H1/2022

The Party Central Executive Committee, the Politburo, the Secretariat, and the Central Commission for Inspection disciplined 27 officials managed by the Politburo and the Secretariat in the first six months of 2022, 20 cases up year on year.

Hanoi to inspect fire prevention at all karaoke parlors

Half a month after the karaoke parlor fire in Cau Giay District, the Hanoi People's Committee has asked districts to inspect all karaoke parlors and bars and handle violations.

Vietnam needs extra US$368 billion to achieve net zero emissions

As the energy industry has a crucial role in achieving net zero emissions by 2050, it requires a structural transition toward green growth. Therefore, Vietnam needs assistance from developed countries regarding both financial and technical issues.

Labor Minister proposes harsh punishment for child offenders

Minister of Labor, War Invalids and Social Affairs Dao Ngoc Dung signed an official letter requesting to have harsh punishment for child offenders and strengthening measures to prevent violence against children.

Pu Sam Cap Cave: the hidden charm of Lai Chau

Pu Sam Cap Cave in Pu Sam Cap Commune, Sin Ho District, in the northwestern province of Lai Chau, is known for its wild, beautiful and mysterious beauty.

Hanoi’s three largest parks are seriously degraded

Many public works in the parks of Thu Le, Bach Thao, and Thong Nhat in Hanoi are in disrepair, affecting urban beauty and public experiences.

Why are thousands of public employees taking private-sector jobs?

Many public employees have recently quit their jobs and taken a job in the private sector. This indicates that the public sector is not attractive and that many problems need to be addressed.

Kon Tum Province records 300 earthquakes over a year

The Central Highland province of Kon Tum has recorded more than 300 earthquakes since April 2021, according to the provincial administration.

Highly-infectious BA.2.74 Omicron sub-variant detected in Vietnam

Vietnam has detected a number of new, highly-contagious Omicron sub-variants, including BA.2.74, said the General Department of Preventive Medicine on August 17.

Relaxing visa policy to attract more foreign tourists to Vietnam: insiders

Vietnam’s visa policy should be more open to lure international tourists, insiders have said.

Vietnam Airlines resumes, increases frequency of several flights in September

The national flag carrier Vietnam Airlines will resume flights connecting the central city of Da Nang with Malaysia’s Kuala Lumpur and Thailand’s Bangkok from September 1 and September 15, respectively, the carrier has announced.

Da Lat listed among world’s best places for binge-worthy dating

Booking.com has named Vietnam's Da Lat city among the world's six places for the summer’s binge-worthy dating shows.

Quang Ninh refutes allegations of sea encroachment in Ha Long Bay

The authorities of Quang Ninh province has refuted information that it has allowed a project to conduct sea encroachment and subdivide land plots for sale, which seriously undermined the conservation of the UNESCO-recognised Ha Long Bay.
back_to_top