Hanoi (VNS/VNA) - Total assets of the Vietnamese credit institution system by the end of June 2024 reached more than 21.07 quadrillion VND, 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 8.75 quadrillion VND, up 5.05% from the end of 2023.
The group of joint-stock commercial banks had total assets of more than 9.43 quadrillion VND, up 5.0%.
The group of joint-venture and foreign banks had total assets of more than 1.94 quadrillion VND, an increase of 4.26%, and the group of financial and financial leasing companies had total assets of 302.3 trillion VND, up 0.16%.
The Bank for Social Policies, the Cooperative Bank and the People's Credit Fund had total assets of 377.1 trillion VND, 67.3 trillion VND and 192.04 trillion VND, 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 2.52 quadrillion VND at the end of the second quarter of 2024. VietinBank followed with more than 2.16 quadrillion VND while Vietcombank ranked third with more than 1.9 quadrillion VND.
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 1.07 quadrillion VND, 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 228 trillion VND, 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 587.85 trillion VND, 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%./.
