Total assets of VN credit institutions rise by 4.97%

A customer makes transactions at a BIDV branch. BIDV continued to be the bank with the largest total assets in the market, with VNĐ2.52 quadrillion at the end of the second quarter of 2024. Photo baokiemtoan.vn

HÀ NỘI — Total assets of the Vietnamese credit institution system by the end of June 2024 reached more than VNĐ21.07 quadrillion, an increase of 4.97 per cent compared to the end of 2023, the State Bank of Vietnam (SBV)’s latest data shows.

Accordingly, the group of State-owned commercial banks, including Agribank, VietinBank, Vietcombank, BIDV, VietinBank, CB, GPBank, and Oceanbank, had total assets of nearly VNĐ8.75 quadrillion, up 5.05 per cent from the end of 2023.

The group of joint-stock commercial banks had total assets of more than VNĐ9.43 quadrillion, up 5.0 per cent.

The group of joint-venture and foreign banks had total assets of more than VNĐ1.94 quadrillion, an increase of 4.26 per cent, and the group of financial and financial leasing companies had total assets of VNĐ302.3 trillion, up 0.16 per cent.

The Bank for Social Policies, the Cooperative Bank and the People’s Credit Fund had total assets of VNĐ377.1 trillion, VNĐ67.3 trillion and VNĐ192.04 trillion, respectively, up 7.57 per cent, 18.1 per cent and 7.5 per cent 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 VNĐ2.52 quadrillion at the end of the second quarter of 2024. VietinBank followed with more than VNĐ2.16 quadrillion while. Vietcombank ranked third with more than VNĐ1.9 quadrillion.

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 VNĐ1.07 quadrillion, an increase of 6.6 per cent compared to the end of 2023. In which, the group of State-owned commercial banks had a total charter capital of VNĐ228 trillion, an increase of 4.75 per cent, 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 VNĐ587.85 trillion, an increase of 8.35 per cent.

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 per cent, of which the ratio of State-owned commercial banks was at 23.58 per cent, joint-stock commercial banks, 40.02 per cent and finance and financial leasing companies, 33.99 per cent.

The ratio of outstanding loans to total deposits of the credit institution system by the end of June 2024 was 78.25 per cent, of which State-owned commercial banks had a ratio of 82.62 per cent, joint-stock commercial banks, 80.78 per cent and joint-venture and foreign banks, 42.23 per cent. — VNS