State-owned banks rank 1st by total assets

28-May-2020 Intellasia | Nhip song Kinh te | 6:50 AM Print This Post

According to statistics from the consolidated financial statements and information released from 28 domestic banks, the total assets of banks as of the end of Q1/2020 reached nearly 10.148 quadrillion dong, declined slightly by 0.187 percent compared to with the end of 2019.

Top 10 banks with the most considerable total assets remained stable, the rankings of the last three banks changed

The group of state-owned banks continued to lead with the asset value of over 1 quadrillion dong, accounting for nearly 51 percent of the total assets of the 28 banks surveyed. In particular, Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) was the bank with the largest asset size with nearly 1.45 quadrillion dong, followed by Vietnam Bank for Agriculture and Rural Development (Agribank), Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) and Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank), according to the financial statements as of the end of June 2019.

In the group of private banks, Sai Gon Joint Stock Commercial Bank (SCB) was still the bank with the most considerable total assets, with over 581.2 trillion dong. The remaining five banks in the top 10 were Sai Gon Thuong Tin Commercial Joint Stock Bank (Sacombank), Military Commercial Joint Stock Bank (MB – MBBank), Vietnam Prosperity Joint-Stock Commercial Bank (VPBank), Vietnam Technological and Commercial Joint-Stock Bank (Techcombank), and Asia Commercial Joint Stock Bank (ACB)respectively.

Compared to the end of 2019, the top 10 banks with the largest total assets, in general, remained the same, but there was a swap position between the last three banks. Specifically, VPBank increased two levels from the bottom of the table to eighth place, while Techcombank and ACB both dropped one rank, respectively in the last two positions.

In addition to the top 10 mentioned above, the group of banks with total assets of over 100 trillion dong was called Saigon Hanoi Commercial Joint Stock Bank (SHB) with 368.981 trillion dong, HCM City Development Joint Stock Commercial Bank (HDBank) with 231.773 trillion dong, Lien Viet Post Joint Stock Commercial Bank (LienVietPostBank) with 202.93 trillion dong, Vietnam International Commercial Joint Stock Bank (VIB) with 193.314 trillion dong, Tien Phong Commercial Joint Stock Bank (TPBank) with 176.632 trillion dong, Vietnam Export Import Commercial Joint Stock Bank (Eximbank) with 157.17 trillion dong, Vietnam Maritime Joint – Stock Commercial Bank (MSB) with 154.766 trillion dong.

However, by the end of Q1/2020, there were still nearly ten banks with total assets below 100 trillion dong. Banks such as Saigon Bank for Industry and Trade (Saigonbank), Petrolimex Group Commercial Joint Stock Bank (PGBank), asset size were just over 20 trillion dong and 31 trillion dong, which was only 1.4 percent and 2.1 percent compared to BIDV – the bank with the largest total assets.

TPBank, VIB, VPBank led the growth. Three big players suddenly had negative growth

Among the 28 banks surveyed, TPBank was the bank with the highest growth rate of total assets, with 7.42%. The following were VIB, VPBank, Kien Long Commercial Joint – Stock Bank (Kienlongbank), and Nam A Bank with an increase of 4.76%, 4.24%, 3.88%, and 3.71%, respectively.

Meanwhile, ten out of 28 banks recorded negative growth in total assets. Notably, the total assets of the three big players, including Vietcombank, VietinBank, and BIDV, all dropped significantly, the most being Vietcombank with a decrease of 6.42 percent at nearly 78.5 trillion dong – equivalent to total assets of Viet A Bank.

Also, Saigonbank, An Binh Commercial Joint Stock Bank (ABBank), Eximbank, and Southeast Asia Commercial Joint Stock Bank (SeABank) were the private banks that recorded a large decline, respectively 10.98%, 7.01%, 6.19%, and 5.65 percent compared to the figures.

The main reason for the sharp decline in the total assets of these banks was mainly because deposits at the State Bank of Vietnam and deposits and loans to other credit institutions dropped dramatically from 30 percent to 80 percent in the first three months of the year.

 


Category: Finance, Vietnam

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