The commercial banking system in Vietnam has four members reaching over 1quadrillion VND in total assets, including Vietcombank, Agribank, BIDV and Vietinbank. (Photo: Vneconomy.vn)
Hanoi (VNA) - Asof December 31, 2017, the total assets of the Bank for Foreign Trade of Vietnam(Vietcombank) reached 1.05 quadrillion VND (46 billion USD).
This makes it the fourth bank of Vietnam possessing total assets exceeding 1quadrillion VND.
Vietcombank is the focal point of purchasing nearly 5 billion USD in the Statecapital’s divestment at Saigon Beer, Alcohol and BeverageCorporation (Sabeco) on December 29, 2017.
This transaction, equivalent to 110 trillion VND, pushed Vietcombank’s totalassets to exceed 1 quadrillion VND only a few days before the end of 2017,two years earlier than the targeted plan in 2020.
Till date, the commercial banking system in Vietnam has four members reachingover 1 quadrillion VND in total assets, including the Bank for Agricultureand Rural Development (Agribank), Vietnam Joint Stock CommercialBank for Industry and Trade (VietinBank), Bank for Investment andDevelopment of Vietnam (BIDV) and Vietcombank.
This is also the "Big 4" group of State-owned commercial banks, ofwhich, only Agribank has not been equitised yet. This group currently holdsaround 50 percent of outstanding loans and deposits of the entire bankingsystem.
Together with the total asset size, this is the first time the local bankingsystem has seen its official membership’s before-tax profit exceeding10 trillion VND.
Specifically, according to 2017’s data, Vietcombank is the first commercialbank to exceed this profit figure, with more than 10.8 trillion VND, ayear-on-year increase of 32 percent. The profit, which service segment made up24 percent against 20 percent in 2015-16, is expected to be the highestlevel in the entire banking system.
Remarkably, this profit was made after Vietcombank continued to increase itsprovision for risky loans in 2017 to some 8 trillion VND, which accounted forsome 130 percent of the bank’s total bad debts.
Last year, although the State Bank raised credit growth target to 18 percent,Vietcombank increased only some 17.4 percent.
In the end of 2016, the bank’s retail lending ratio was only 33 percent;however, in 2017, it had risen to 41 percent and the trend may surpass 50 percentin 2018.-VNA
The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) was named as the bank with the strongest balance sheet in Vietnam by The Asian Banker, a finance and banking magazine.
The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) on October 20 appointed Thomas William Tobin as Retail Banking Director, the bank’s first foreign senior executive.
The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) has reported it earned around 2.7 trillion VND (119.9 million USD) in pre-tax profit in the in the third quarter of this year, up 31 percent year-on-year.
This year’s event attracted more than 350 entries from cities and provinces across the country, reflecting growing interest in and commitment to the Fourth Industrial Revolution.
The new Government decree also simplifies loan procedures while expanding credit incentives to include organic and circular agriculture, allowing them to access preferential terms similar to those of high-tech and value-chain based agricultural production.
Developed with state-of-the-art infrastructure, the Da Nang FTZ is designed to become a leading regional economic centre and a strategic growth pole in Vietnam’s new development landscape.
The Binh Duong Association of Supporting Industries (BASI) is expected to promote the usage of domestically manufactured components while supporting businesses in accessing international markets, strengthening linkages, and promoting deeper integration into global supply chains.
PwC Vietnam forecasts a vibrant M&A market in Vietnam’s healthcare sector in 2025, driven by rising demand for high-quality medical services and a growing middle class. Pharmaceutical companies, private hospitals, and specialised medical facilities, particularly in ophthalmology and oncology, are predicted to be key targets for M&A.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The commercial banking system in Vietnam has four members reaching over 1quadrillion VND in total assets, including Vietcombank, Agribank, BIDV and Vietinbank. (Photo: Vneconomy.vn) 
