Tuesday, October 24 2017

VietNamNews

11 Vietnamese banks have assets of over $10b

Update: August, 21/2017 - 17:00
The Bank for Investment and Development of Vietnam leads the banking system in terms of assets with total assets of VNĐ1.1 quadrillion. — Photo BIDV
Viet Nam News

HÀ NỘI — Việt Nam has 11 banks with total assets of more than US$10 billion each, of which three have total assets exceeding VNĐ1 quadrillion ($44 billion) each, financial reports from the banks showed.

The Bank for Investment and Development of Vietnam (BIDV) tops the list with total assets of VNĐ1.1 quadrillion. The other two banks which also have total assets exceeding VNĐ1 quadrillion are VietinBank and Agribank. VietinBank recently joined the VNĐ1 quadrillion club, while Agribank had assets hitting the level late last year.

Eight other banks that have total assets of more than $10 billion are Vietcombank, SCB, Sacombank, Military Bank, ACB, SHB, VP Bank and Techcombank.

The financial reports also showed that the banks’ business performance in the first half of this year was optimistic with SCB being the only bank reporting a profit decrease of 4.1 per cent year-on-year to VNĐ90 billion.

In H1, Vietcombank topped the list with pre-tax profit of VNĐ5.25 trillion, followed by Vietinbank and BIDV with profit of VNĐ4.81 trillion and VNĐ3.71 trillion, respectively. — VNS

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