At a Vietcombank branch in Hanoi (Photo: VNA) According to the latest data from the State Bank of Vietnam (SBV),by December 31, 2023, credit increased by about 13.71% compared to the end of2022, not significantly lower than the 14.18% increase of the previous year.
In 2023, credit had a slow increase in the first quarters, andeven saw a decrease compared to the previous month in July. As of September 30,credit growth only reached about 7%.
However, credit began to slightly improve from the end of thethird quarter and surged impressively in the last quarter thanks to drasticefforts in credit growth management by the SBV.
Contributing a significant part to the credit growth of the entireeconomy in 2023 were the efforts of the Big 4 banks, which are four State-ownedbanks with total assets, deposits, loans and profits that always lead thecountry's banking system.
Accordingly, the Big 4 banks pumped a total of more than 684.8trillion VND into the economy in 2023, equivalent to 41.9% of the outstandingloans of the entire economy. The largest contribution belonged to BIDV, withnearly 255.8 trillion VND, corresponding to credit growth of 16.66%.
VietinBank followed with credit growth of 15.6%, equivalent tonearly 200 trillion VND.
Vietcombank and Agribank recorded lower credit growth rates of10.6% and 7.4%, respectively, equivalent to nearly 122.6 trillion VND and 106.8trillion VND, respectively.
In 2023, the raised capital of the Big 4 banks increased by 13% ornearly 778.9 trillion VND against the previous year to 6.7 quadrillion VND.
As the majority of raised capital is in the form of deposits, itcan be estimated that the Big 4 banks accounted for about 50%, or 13.5quadrillion VND, of the total deposits of the entire economy by the end of2023.
Specifically, BIDV in 2023 raised total capital of 1.89quadrillion VND, an increase of 16.4% compared to the end of 2022, surpassingAgribank to lead the Big 4 group.
Agribank dropped to the second position in terms of capitalraising, with 1.88 quadrillion VND, up 9.8% against the previous year.
The remaining giants VietinBank and Vietcombank in 2023 raised 1.52quadrillion VND and 1.41 quadrillion VND, respectively, an increase of 13.7%and 12.9% compared to 2022./.
VNA
