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Home / Economy / Banking & Finance
Total assets in banking sector exceed US$412 billion
Ngoc Thuy 16:06, 2018/02/24
The total assets of the banking sector reached VND9,400 trillion (US$412 billion) as of October 31, 2017, up 10.87% compared to the beginning of the year, according to the latest report of the State Bank of Vietnam (SBV).
The total assets of commercial banks under State ownership were reported at VND4,300 trillion (US$188.7 billion), an increase of 11.15% over the beginning of the year and accounting for 45.5% of the total assets in the banking sector. 
 
Illustration photo.
Illustration photo.
Meanwhile, the total assets of joint stock commercial banks were VND3,800 trillion (US$166.8 billion), increasing 10.18% compared to the beginning of the year and to 30% of the total assets in the banking sector. 

They were followed by joint venture banks and wholly foreign-owned banks with total assets of VND925 trillion (US$40.6 billion), up 11.69%; Vietnam Bank for Social Policies with VND177 trillion (US$7.77 billion), up 11.04%; financial and leasing companies with VND133.5 trillion (US$5.6 billion), up 16.78%; people's credit funds with VND101.7 trillion (US$4.7 billion), up 12.91% and Co-op Bank with VND26.4 trillion (US$1.1 billion), up 0.09%. 

With regards to own capital, State-owned commercial banks are behind joint stock commercial banks-VND246,9 trillion (US$10.8 billion) against VND277 trillion (US$12.1 billion)-posting growth rates of 7.58 and 8.67% compared to the beginning of the year. 

On the other hand, own capital of joint venture banks and wholly foreign-owned banks was VND141.7 trillion (US$6.2 billion), increasing 8.2%, and that of financial and leasing companies was VND22.8 trillion (US$1 billion), increasing 2.6%. 

Overall, total own capital in the banking sector reached VND692 trillion (US$30.3 billion), increasing 7.93% over the beginning of the year. 

The chartered capital of State-owned commercial banks in the last 10 months was slightly unchanged (up 0.82%) at VND147.7 trillion (US$6.5 billion), while that of joint stock commercial banks reached VND210 trillion (US$9.2 billion), up 4.57%. The charter capital of joint venture and wholly foreign-owned banks is VND109 trillion (US$4.8 billion), up 5.04%. 

In particular, the charter capital of financial and leasing companies has witnessed a high increase of 9.32%, equaling VND21.5 trillion (US$944 million).

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 9.63%, while that of joint stock commercial banks is quite high, with 11.54%. 

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 35.66% and 35.9%, respectively.  
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