By The largest banks in Vietnam facilitate transactions and loan applications for the people in the country. Almost every country nowadays has numerous banks providing top-notch services to their citizens.
See Also Affordable, Fast, and Easy International Transfers for Your Business
It’s no surprise that Vietnam is home to some of the largest banks in terms of asset ownership. By looking at asset ownership, we can analyze the presence of several major banks in Vietnam to meet transactional needs.
Largest Banks in Vietnam
1. Bank For Investment And Development Of Vietnam (BIDV)
Commonly known as BIDV, this state-owned bank is the largest bank in Vietnam in terms of assets, reaching $72 billion as of June 2021. BIDV has received the “House of the Year” award from Risk Asia magazine for its leading role in supporting economic development in Vietnam through risk management modernization and the development of new financial products such as energy derivatives hedging.
Established on April 26, 1957, the Vietnamese government announced in 2007 that it would sell minority stakes in BIDV and three other banks. In November 2019, BIDV signed a strategic cooperation agreement with Hana Bank, making the Korean bank a strategic foreign shareholder with a 15% stake.
See Also Effortlessly Send Money to Vietnam with Jack
2. Vietinbank
Vietinbank, a state-owned bank in Vietnam, was the second-largest bank in Vietnam in 2023, managing assets worth VND 1,800 trillion or around $76 billion. It ranks 13th among Vietnam’s largest companies and had a market capitalization of around $2.5 billion at the end of 2012.
See Also Corporate Credit Card: Definition, Types, Benefits, and How Cards Work for Startups
3. Vietcombank
Vietcombank, headquartered in Hanoi, Vietnam, is the largest bank in Vietnam and operates as a commercial bank. It has 116 branches and 474 transaction offices in Vietnam, with three overseas subsidiaries and three local subsidiaries, as well as three joint ventures and foreign representative offices in Singapore.
See Tutorial Account Verification Jack
4. Techcombank
Techcombank, Vietnam’s largest public bank, trades its shares on the Ho Chi Minh City Stock Exchange under the ticker TCB. Established in 1993 by Vietnamese entrepreneurs returning from Russia, Technobank’s domestic investors include Vietnam Airlines and Masan Group.
5. Agribank
Agribank is one of the largest commercial banks in Vietnam, with significant total assets. Established on March 26, 1988, as the first state-owned commercial bank in Vietnam, Agribank focuses on providing credit resources for agricultural development in rural areas.
See Also other Articles About the Largest Banks in The World from Jack
Largest Banks in New Zealand
Largest Banks in Singapore
Largest Banks in Philippines
Largest Banks in Malaysia
Largest Banks in India
6. Vietnam Prosperity Joint-Stock Commercial Bank
Also known as VPBank, this joint-stock commercial bank in Vietnam for private enterprises was founded on August 12, 1993. After 22 years of operation, VPBank increased its charter capital to VND 8.056 trillion and expanded its transaction points to over 208, employing approximately 12,400 workers.
VPBank is among the top 12 leading banks in Vietnam, committed to reaffirming its reputation as a dynamic bank with stable financial capacity and social responsibility.
Use Jack for your business needs
It has implemented aggressive growth strategies with the support of leading global consultants like McKinsey to focus on organic growth in target customer segments.
