Top 10 Banks with the Largest Total Assets in Vietnam in the First Half of 2022

Joint Stock Commercial Bank for Foreign Trade of Vietnam, commonly known as Vietcombank, is one of the leading commercial banks in Vietnam. As of December 31, 2020, the bank operated 116 branches and 474 transaction offices within Vietnam, along with 3 domestic subsidiaries, 3 international subsidiaries, 3 joint ventures, and a representative office in Singapore. As of December 31, 2020, Vietcombank's market capitalization stood at 15.5 billion USD.

Founded on April 1, 1963, as Vietnam's Foreign Trade Bank, Vietcombank was initially the monopoly in foreign trade, under the supervision of the State Bank of Vietnam. In 1990, the bank diversified its services from being solely focused on foreign trade to becoming a general commercial bank serving the public. In 1996, it officially changed its name to the Joint Stock Commercial Bank for Foreign Trade of Vietnam. Vietcombank ranked fourth in the country with total assets amounting to 1.602 trillion VND, reflecting a 13.27% increase. Key drivers of its asset growth included customer loans, deposits, loans to other financial institutions, and investments in securities.

Military Commercial Joint Stock Bank (MB) is a financial services provider offering solutions for both personal and business banking. Its personal banking services include savings, personal accounts, securities, personal loans, MB cards, money transfers, foreign currency exchange, and cash counting services. For businesses, MB provides services such as business accounts, business loans, foreign exchange, guarantee services, foreign exchange products, domestic payments, securities products, and cash collection services.

MB Bank also offers agency banking and financial market services, along with additional financial services, including electronic banking services like internet banking, mobile banking, home banking, and bill payment services. The bank operates in Vietnam, Laos, and Cambodia. MB Bank ranks fifth with total assets of 658.274 trillion VND (28.13 billion USD), showing an 8.42% growth. Customer loans account for the largest proportion of its assets, comprising 61%. The bank's expansion in lending activities is the main driver of its increasing asset scale.

Vietnam Technological and Commercial Joint Stock Bank, commonly known as Techcombank, is a publicly listed bank in Vietnam. Its shares are traded on the Ho Chi Minh Stock Exchange under the ticker symbol TCB. Ranked 6th, Techcombank holds assets worth 623.745 trillion VND, showing a growth of 9.67%, with the main drivers of its asset increase being loans to other financial institutions and various other assets.

Techcombank was founded in 1993 by Vietnamese entrepreneurs returning from Russia. In 2005, global bank HSBC acquired a 10% stake in Techcombank. In 2018, the bank listed its shares on the Ho Chi Minh Stock Exchange and raised over 900 million USD in its IPO, which remains the largest IPO in Vietnam to date. Today, Techcombank is one of the largest joint-stock commercial banks in Vietnam, with more than 300 branches and serving over 5 million customers as of 2019.

Vietnam Prosperity Joint Stock Commercial Bank (VPBank) provides both commercial and personal banking services. The bank's offerings are based on four main pillars: retail banking, consumer credit, household banking, and small and medium-sized business credit services. Its lending portfolio includes personal loans, mortgages, consumer and business loans, as well as insurance products such as health, life, and cardholder insurance, along with deposit products like current and term deposits.

VPBank also offers debit and credit card products, business cards, digital banking services, promotions, currency exchange, financing, remittances, payment services, trade financing, and guarantees. Headquartered in Hanoi, Vietnam, VPBank ranks 7th with total assets of 608.275 trillion VND, reflecting an 11.12% growth. Sacombank follows with assets exceeding 551.422 trillion VND in 8th place. As one of the earliest-established joint-stock commercial banks in Vietnam, VPBank has shown consistent development throughout its history.

Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) is a financial institution based in Vietnam. Established in 1991, Sacombank had a chartered capital of 14.176 trillion VND in 2012, making it one of the largest joint-stock commercial banks in the country in terms of capital and branch network. The bank offers a range of commercial banking services to both individual and business customers.

Under its personal banking segment, Sacombank provides services such as credit cards, loans, deposits, remittances, and electronic banking. In its corporate banking sector, the bank engages in credit activities, deposit-taking, international payments, trade financing, and cash management. Through its subsidiaries, Sacombank also participates in debt and asset management, fund management, foreign exchange and gold trading, financial leasing, and securities brokerage services.

Saigon - Hanoi Commercial Joint Stock Bank (SHB) is a financial institution offering both personal and business banking services. For personal banking, the bank provides services such as individual deposit accounts, fixed-term deposit accounts, personal savings accounts, debit cards, and credit cards. On the business side, SHB offers corporate deposit accounts, current accounts, business lending products, and both debit and credit products.

SHB also offers various loan products, including personal loans, car loans, commercial loans, and business loans. Additionally, the bank provides services like money transfers, online banking, card services, foreign exchange, cash services, mobile phone bill payments, international payments, currency trading, and gold trading services. SHB operates in countries such as Laos, Myanmar, Vietnam, and Cambodia.

As a primarily state-owned bank, BIDV has consistently played a leading role in implementing the policies and directives set by the Government of Vietnam and the State Bank of Vietnam. With a vision of becoming the best digitally-powered financial institution in Vietnam, BIDV continuously enhances its products and services, applying advanced technology to diversify its digital ecosystem and deliver the best value to nearly 14 million individual and business customers. As of June 30, 2022, BIDV's performance showed positive results.

Its consolidated assets reached over 1.98 trillion VND, marking a 12.4% increase compared to the same period last year. Customer deposits and issued securities amounted to over 1.54 trillion VND, reflecting a 2.5% rise. Loans to customers reached over 48 trillion VND, a 9.5% increase year-on-year. The bank’s non-performing loan coverage ratio hit a record high of 279%. BIDV has consistently been listed in the Forbes Global 2000, ranked among the Top 300 most valuable banking brands globally by Brand Finance, and recognized as Vietnam's Best Retail Bank for seven consecutive years by The Asian Banker, among numerous other prestigious awards.

Brand Finance recently released its Brand Finance Banking 500 2021 report, listing the most valuable banking brands globally. The brands were evaluated based on market share, asset growth, financial strength, operational efficiency, and brand reputation. In this ranking, Agribank secured the 173rd position, climbing 17 spots from 2020, making it the highest-ranked among Vietnam's top 9 commercial banks in the global 2021 rankings.

According to the VNR500 Ranking of Vietnam's Top 500 Enterprises, Agribank was ranked 8th. This is the 11th time Agribank has been listed in the VNR500 Top 10 and it remains the leading bank in Vietnam's commercial banking sector. In November 2020, Agribank received two prestigious awards: “Exemplary Bank for Agricultural Investment in High Technology” and “Exemplary Bank for Community Contributions 2020.” Additionally, Agribank won the “Community Initiative of the Year 2020” for two projects: Mobile transaction units using specialized vehicles and promoting card services in rural and agricultural markets.

VietinBank ranks third with total assets surpassing 1.691 trillion VND, reflecting a 10.4% increase. As of June 30th this year, its customer loan balance reached 1.238 trillion VND, which accounts for 73% of its total assets. VietinBank also leads among Vietnamese banks in terms of Tier 1 capital, with over 2.329 billion USD, and posted a pre-tax profit of 343 million USD. This ranking highlights VietinBank's financial strength and its stable, sustainable, and effective growth.

According to The Banker, in 2015, Vietnam made a rapid leap to become the second fastest-growing banking sector in the “Top 100 ASEAN Banks 2016.” VietinBank has recently been ranked in several prestigious global lists. In addition to being listed among the Top 100 Largest Banks in ASEAN, VietinBank is the only Vietnamese bank to enter the Top 400 Most Valuable Banking Brands globally, climbing 58 positions in one year with a brand value of 249 million USD and an A+ rating (as reported by Brand Finance). VietinBank is also the only Vietnamese bank to be ranked in Forbes' list of the World’s 2000 Largest Companies for four consecutive years (2012-2015).