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Home / Economy / Banking & Finance
Total assets of banks in Vietnam up nearly 11% to US$477 billion in 2018
Ngoc Thuy 14:20, 2019/03/21
The total assets of state-owned commercial banks accounted for 44% of the total in the banking sector, followed by joint stock commercial banks with 41%.
The total assets of banks operating in Vietnam reached over VND11,000 trillion (roughly US$477 billion) in 2018, up 10.62% compared to the beginning of the year, according to the latest statistics of the State Bank of Vietnam (SBV).
 
Illustrative photo.
Illustrative photo.
Total assets of seven state-controlled commercial banks, including 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 VND4,860 trillion (US$210.66 billion), an increase of 6.42% over the beginning of the year and accounting for 44% of total assets in the banking sector. 

Meanwhile, total assets of joint stock commercial banks were VND4,550 trillion (US$197.22 billion), increasing 13.07% compared to the beginning of the year and 41% of the total assets. 

They were followed by joint venture banks and wholly foreign-owned banks with total assets of VND1,130 trillion (US$48.98 billion), up 19.12%; financial and leasing companies with VND167.82 trillion (US$7.27 billion), up 18.27%; co-operative banks with VND32.42 trillion (US$1.40 billion), up 12.18%; people’s credit funds with VND113.17 trillion (US$4.90 billion), up 10.32%; and Vietnam Bank for Social Policies with VND195.87 trillion (US$8.48 billion), up 11.52%; 

As of the end of 2018, owner's equity of the banking system reached VND806.15 trillion (US$34.94 billion), up 12.89% against the beginning of the year. 

In terms of owner's equity, state-owned commercial banks are behind joint stock commercial banks, VND268.59 trillion (US$11.64 billion) against VND338.18 trillion (US$14.65 billion), posting growth rates of 5.48% and 16.36% 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 VND162.86 trillion (US$7.05 billion), up 14.82%, and that of financial and leasing companies was VND32.56 trillion (US$1.41 billion).

The chartered capital of state-owned commercial banks in 2018 was up slightly 0.08% at VND147.89 trillion (US$6.41 billion), while that of joint stock commercial banks reached VND267.23 trillion (US$11.58 billion), up 24.42%. 

With regards to the capital adequacy ratio (CAR), all above-mentioned credit institutions rated above the 9% limit. However, the CAR of state-owned commercial banks is fast approaching the lower limit with 9.52%, while that of joint stock commercial banks is quite high, with 11.24%. 

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 30.70% and 32.67%, respectively. 
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