The Bank for Investment and Development of Vietnam leads the banking system in terms of assets with total assets of VND1.1 quadrillion. — Photo BIDV

Viet Nam has 11 banks with total assets of more than US$10 billion each, of which three have total assets exceeding VND1 quadrillion ($44 billion) each, financial reports from the banks showed.

The Bank for Investment and Development of Vietnam (BIDV) tops the list with total assets of VND1.1 quadrillion. The other two banks which also have total assets exceeding VND1 quadrillion are VietinBank and Agribank. VietinBank recently joined the VND1 quadrillion club, while Agribank had assets hitting the level late last year.

Eight other banks that have total assets of more than $10 billion are Vietcombank, SCB, Sacombank, Military Bank, ACB, SHB, VP Bank and Techcombank.

The financial reports also showed that the banks’ business performance in the first half of this year was optimistic with SCB being the only bank reporting a profit decrease of 4.1 per cent year-on-year to VND90 billion.

In H1, Vietcombank topped the list with pre-tax profit of VND5.25 trillion, followed by Vietinbank and BIDV with profit of VND4.81 trillion and VND3.71 trillion, respectively. — VNS