Total assets of banks in Vietnam up 8.2% to over US$465 billion in Jan-Nov 2018

The total assets of Vietnam’s banking sector reached VND10,824 trillion (US$465.85 billion) as of November 30, 2018, up 8.23% compared to the beginning of the year, according to the latest report of the State Bank of Vietnam (SBV).


Total assets of banks in Vietnam up 8.2% to over US$465 billion in Jan-Nov 2018, vietnam economy, business news, vn news, vietnamnet bridge, english news, Vietnam news, news Vietnam, vietnamnet news, vn news, Vietnam net news, Vietnam latest news, Vietnam

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 VND4,800 trillion (US$207.04 billion), an increase of 5.18% 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 VND4,190 trillion (US$180.71 billion), increasing 9.07% 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 VND1,100 trillion (US$47.44 billion), up 18.34%; financial and leasing companies with VND154.89 trillion (US$6.68 billion), up 9.15%; co-operative banks with VND31.3 trillion (US$1.34 billion), up 9.15%; people’s credit funds with VND112.54 trillion (US$4.85 billion), up 9.71%; and Vietnam Bank for Social Policies with VND196.47 trillion (US$8.47 billion), up 11.86%; 

As of November 30 2018, total own capital of the banking system reached VND785.65 trillion (US$33.88 billion), up 10.02% against the beginning of the year. 

In terms of owner's equity, state-owned commercial banks are behind joint stock commercial banks-VND263.2 trillion (US$11.35 billion) against VND326.96 trillion (US$14.1 billion)-posting growth rates of 3.36 and 8.5% 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 VND159.61 trillion (US$6.88 billion), up 12.53%, and that of financial and leasing companies was VND32.12 trillion (US$1.38 billion).

The chartered capital of state-owned commercial banks in the last 11 months of 2018 was slightly unchanged (up 0.08%) at VND147.89 trillion (US$6.37 billion), while that of joint stock commercial banks reached VND262.3 trillion (US$11.31 billion), up 22%. 

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 9.33%, while that of joint stock commercial banks is quite high, with 11.13%. 

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 31.43% and 33.77%, respectively. 

Hanoitimes 

Total assets of banks in Vietnam up 8.2% to over US$465 billion in Jan-Nov 2018, vietnam economy, business news, vn news, vietnamnet bridge, english news, Vietnam news, news Vietnam, vietnamnet news, vn news, Vietnam net news, Vietnam latest news, Vietnam
 
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