Total assets of Vietnamese credit institutions rise by 4.97%
Total assets of the Vietnamese credit institution system by the end of June 2024 reached more than VND21.07 quadrillion, an increase of 4.97% compared to the end of 2023, the State Bank of Vietnam (SBV)’s latest data show.
Accordingly, the group of State-owned commercial banks, including Agribank, VietinBank, Vietcombank, BIDV, VietinBank, CB, GPBank, and Oceanbank, had total assets of nearly VND8.75 quadrillion, up 5.05% from the end of 2023.
The group of joint-stock commercial banks had total assets of more than VND9.43 quadrillion, up 5.0%.
The group of joint-venture and foreign banks had total assets of more than VND1.94 quadrillion, an increase of 4.26%, and the group of financial and financial leasing companies had total assets of VND302.3 trillion, up 0.16%.
The Bank for Social Policies, the Cooperative Bank and the People's Credit Fund had total assets of VND377.1 trillion, VND67.3 trillion and VND192.04 trillion, respectively, up 7.57%, 18.1% and 7.5% compared to the end of 2023.
Meanwhile, statistics from Q2 2024 financial reports published by commercial banks show that BIDV continued to be the bank with the largest total assets in the market, with VND2.52 quadrillion at the end of the second quarter of 2024. VietinBank followed with more than VND2.16 quadrillion while Vietcombank ranked third with more than VND1.9 quadrillion.
According to the SBV’s data, the charter capital of the credit institution system also recorded growth compared to the end of 2023.
Specifically, by the end of June 2024, the total charter capital of the credit institution system reached nearly VND1.07 quadrillion, an increase of 6.6% compared to the end of 2023. In which, the group of State-owned commercial banks had a total charter capital of VND228 trillion, an increase of 4.75%, while the group of joint-stock commercial banks had a total charter capital of more than double that of the group of State-owned commercial banks with VND587.85 trillion, an increase of 8.35%.
The SBV also reported that by the end of June 2024, the ratio of short-term capital for medium and long-term lending of the credit institution system was 28.1%, of which the ratio of State-owned commercial banks was at 23.58%, joint-stock commercial banks, 40.02% and finance and financial leasing companies, 33.99%.
The ratio of outstanding loans to total deposits of the credit institution system by the end of June 2024 was 78.25%, of which State-owned commercial banks had a ratio of 82.62%, joint-stock commercial banks, 80.78% and joint-venture and foreign banks, 42.23%.
