Vietnam banks’ total assets fall to $553 billion

In compared to the end-June, the country’s total assets of the whole system dropped by nearly VND9,792 billion ($422 million), equivalent to a decrease of 0.08%.

The decline focuses on the State-owned commercial banks and joint-stock commercial banks, while assets of joint-ventured and foreign banks increased.

State-owned commercial banks’ assets fell by VND19,012 billion ($820 million), while the joint stock commercial banks’ asset dropped VND7,018 billion ($303 million).

In contrast, the total assets of joint-ventured and foreign banks added VND13,459 billion ($580 million) in July, central bank’s data says.

Despite the decline in July, accumulated Jan.-July total assets of the whole banking system increased 2.01%. However, this increase was still modest, about one third of the increase in the same period last year.

As of end-July, total assets of State-owned commercial banks dropped 1.44 percent from end-2019, while assets of joint-ventured and foreign banks’ assets increased 6.6 percent.

► Vietnam credit growth slows to 4.81% as of Sept. 16, central bank says