Credit institutions in Vietnam boast total assets of over $858 bln

Total assets of the credit institutions in Vietnam had reached over VND21,070 trillion ($858.4 billion) as of June 30, 2024, up 4.97% from the end of 2023, according to the Vietnam Bankers Association.

State-owned commercial banks had total assets of VND8,749 trillion ($356.45 bilion), up 5.05%; joint-stock commercial banks VND9,436 trillion, up 5%; joint-venture and wholly foreign banks VND1,945 trillion ($79.24 billion), up 4.26%; and financial and leasing companies VND302 trillion, up 0.16%.

Notably, smaller banks showed relatively high asset growth rates, such as Vietnam Bank for Social Policies, with total assets of VND377 trillion ($15.36 billion), an increase of 7.57% from the end of 2023; Co-opBank, VND67.3 trillion and 18.1%; the People’s Credit Fund, VND192 trillion and 7.5%.

Among the 10 banks with the largest total assets in the system, the "Big 4" remained at the top.

State-controlled BIDV continued to be the largest bank in the market, with total assets of VND2,520 trillion ($102.67 billion) at end-Q2/2024, an increase of 9.6% from the end of 2023.

It was followed by VietinBank with over VND2,160 trillion, up 6.3%; Agribank, over VND2,081 trillion, up 1.8%; and Vietcombank, VND1,905 trillion, up 3.6%.

In the group of joint-stock commercial banks, MBBank took the lead with total assets of over VND988 trillion ($40.25 billion), a rise of 4.6% compared to the end of 2023.

Others included Techcombank, with over VND908.3 trillion (up 6.9%); VPBank, over VND864 trillion (up 5.7%); ACB, VND769 trillion (up 7.1%); Sacombank, VND717 trillion (up 6.4%); SHB, nearly VND660 trillion (up 4.6%).