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Home / Economy / Banking & Finance
Banking sector's total assets now exceed US$441 billion
Ngoc Thuy 21:43, 2018/03/14
The total assets of the banking sector exceeded VND10,000 trillion (US$441 billion) as of December 31, 2017, the latest report of the State Bank of Vietnam (SBV) revealed.
The total assets of commercial banks under State ownership were reported at VND4,570 trillion (US$201.5 billion), an increase of 18.34% over the beginning of the year and accounting for 45.7% of the total assets in the banking sector. 
 
Banking sector's total assets now exceed US$441 billion.
Banking sector's total assets now exceed US$441 billion.
Meanwhile, the total assets of joint stock commercial banks stood at VND4,030 trillion (US$177.7billion), increasing 17.69% compared to the beginning of the year and to 40% of the total assets in the banking sector. 
They were followed by joint venture banks and wholly foreign-owned banks with total assets of VND954 trillion (US$42.1 billion), up 15.19%; Vietnam Bank for Social Policies with VND175.6 trillion (US$7.74 billion), up 10.04%; financial and leasing companies with VND141.9 trillion (US$6.2 billion), up 24.07%; people's credit funds with VND102.5 trillion (US$4.5 billion), up 13.84% and Co-op Bank with VND28.9 trillion (US$1.3 billion), up 8.56%. 
With regards to own capital, as at December 31, 2017, state-owned commercial banks are behind joint stock commercial banks--VND254.6 trillion (US$11.2 billion) against VND290.6 trillion (US$12.8 billion)--posting growth rates of 10.96% and 14.35%, respectively, compared to the beginning of the year. 
On the other hand, own capital of joint venture banks and wholly foreign-owned banks was VND141.8 trillion (US$6.2 billion), increasing 8.31%, that of financial and leasing companies was VND23.3 trillion (US$1 billion), and Co-op bank of VND3.6 trillion (US$158.7 million).
Overall, total own capital in the banking sector reached VND714 trillion (US$31.4 billion), increasing 11.64% over the beginning of the year. 
The chartered capital of state-owned commercial banks in last year was slightly unchanged (up 0.82%) at VND147.7 trillion (US$6.5 billion), while that of joint stock commercial banks reached VND214 trillion (US$9.4 billion), 1.5 times higher than that of state-owned commercial banks.
With regards to the capital adequacy ratio (CAR), all credit institutions mentioned above rated above the 9% limit. However, the CAR of State-owned commercial banks is fast approaching the limit with 9.52%, while that of joint stock commercial banks is quite high, with 11.47%. 
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, with 33.44% and 34.47%, respectively.  
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