Total assets of banks in Vietnam up nearly 11% to US$477 billion in 2018
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).
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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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