Total assets of Vietnamese credit institutions up nearly 5%

The State Bank of Viet Nam (SBV)'s latest data showed that the group of State-owned commercial banks, including Agribank, VietinBank, Vietcombank, BIDV, VietinBank, CB, GPBank, and Oceanbank, had total assets of nearly VND8.75 quadrillion (over US$349 billion), up 5.05 percent from the end of 2023.

Total assets of joint-stock commercial banks reached more than VND9.43 quadrillion (US$376.3 billion), up 5 percent.

Joint-venture and foreign banks had total assets of more than VND1.94 quadrillion (US$77.4 billion), an increase of 4.26 percent, and the group of financial and financial leasing companies had total assets of VND302.3 trillion (US$12 billion), up 0.16 percent.

The Bank for Social Policies, the Cooperative Bank and the People's Credit Fund had total assets of VND377.1 trillion (US$15 billion), VND67.3 trillion (US$2.7 billion) and VND192.04 trillion (US$7.66 billion), respectively, up 7.57 percent, 18.1 percent and 7.5 percent compared to the end of 2023.

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

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