Gradually erase the boundary between private banks and state-owned banks

2024 and the first months of 2025 are considered to be a period of high growth for the banking group. According to statistics from the financial statements of 27 banks that have been published (except for the Bank for Agriculture and Rural Development of Vietnam - Agribank ), the total assets of the entire banking industry increased by 20% over the same period last year and increased by 3% compared to the end of 2024.

BIDV is one of the banks with the largest total assets in the system.

Specifically, the "Big 4" group with state-owned banks including: Vietnam Joint Stock Commercial Bank for Investment and Development (BIDV), Vietnam Joint Stock Commercial Bank for Foreign Trade ( Vietcombank ), Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) continue to be the largest banks in terms of total assets in the banking system in Vietnam.

The total consolidated assets of these three banks exceeded VND7.42 trillion. BIDV took the lead, with total assets of over VND2.85 trillion, up 3.45% compared to the beginning of the year.

This bank's outstanding loans are over VND2.1 trillion (up 2.5%), customer deposits are nearly VND1.98 trillion (up 1.2%), and credit risk provisioning costs increased by nearly 1.6%.

Behind BIDV is VietinBank with total assets of more than VND 2 million billion, up 2.6% compared to the end of 2024. This bank's outstanding loans also grew impressively by nearly 4%, to more than VND 1.6 million billion, while customer deposits were approximately VND 1.4 million billion.

Vietcombank achieved total assets of over VND1,970 trillion, up 2.3% compared to the beginning of the year. In the first quarter alone, VietinBank achieved credit growth of 2.8%, customer deposits reached nearly VND1,560 trillion.

If previously, the group of trillion-dollar banks was limited to state-owned banks, now this group has expanded to include private banks.

With assets gradually approaching the threshold of 1 quadrillion VND, and even potentially exceeding this threshold in the near future, Vietnam Technological and Commercial Joint Stock Bank (Techcombank) and Vietnam Prosperity Joint Stock Commercial Bank (VPBank) are joint stock commercial banks that have gradually eliminated the gap between state-owned and private banks.

VPBank General Director Nguyen Duc Vinh said that by the end of March 2025, the bank's total consolidated assets had reached more than VND994,000 billion. It is expected that VPBank's total assets will surpass the VND1 million billion mark this month.

Thus, VPBank is one of the banks with the fastest asset growth rate among the group of joint stock commercial banks. It is known that in 2010, VPBank's asset size only reached nearly 60,000 billion VND, much lower than the leading private bank group (over 100,000 billion VND) or the state-owned bank group (300,000-500,000 billion VND).

However, since 2020, the total assets of this bank have approached VND400,000 billion, an increase of nearly 7 times after 10 years. Notably, since 2021, VPBank's growth rate has been considered a miracle. In 2021, the bank's assets reached VND547,000 billion, reaching VND817,000 billion in 2023. VPBank plans to increase its total assets to about VND1.13 million billion by the end of 2025, which is double that of 2021 and an increase of nearly 40% compared to 2023.

Not only setting a target for total assets, VPBank also set a fairly high target for 2025, with other targets such as expected pre-tax profit of VND 25,270 billion, an increase of 26% compared to 2024, the highest level ever.

As for Techcombank, according to the latest report as of the end of March, Techcombank's total assets reached VND989,200 billion. Thus, the figure of VND1 million billion is not far away for this private bank.

Along with the plan to soon reach total assets of 1 million billion VND, in 2025, this bank also expects to achieve outstanding credit of 745,738 billion VND, an increase of 16% compared to the end of 2024.

Before VPBank and Techcombank, the Military Commercial Joint Stock Bank (MB) became the first private bank to reach the milestone of trillion VND in assets. As of September 30, 2024, MB's total consolidated assets reached 1,028 trillion VND and the latest report at the end of the first quarter showed that the bank's assets had increased to 1,16 trillion VND.

The group with the next largest total assets in the banking system includes Asia Commercial Joint Stock Bank (ACB), Saigon - Hanoi Commercial Joint Stock Bank (SHB), Saigon - Thuong Tin Commercial Joint Stock Bank (Sacombank) and Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank), which exceeded the threshold of 700,000 billion VND in assets after the first 3 months of the year. Of which, ACB reached nearly 789,000 billion VND, SHB 788,000 billion VND, Sacombank 766,000 billion VND, HDBank 732,000 billion VND.

Source: https://hanoimoi.vn/xoa-dan-ranh-gioi-ngan-hang-tu-nhan-va-ngan-hang-co-von-nha-nuoc-701216.html