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Assets of Vietnamese credit institutions climb 16.18 pct in 2016

Xinhua, February 24, 2017 Adjust font size:

The total assets of the Vietnamese credit institutions system were estimated at 8,504 trillion Vietnamese dong (some 381.3 billion U.S. dollars) by the end of 2016, up 16.18 percent year-on-year, announced the State Bank of Vietnam (SBV) on Friday.

All credit institutions reported year-on-year growth in total assets. Specifically, financial leasing companies saw the highest increase of 30.2 percent, reaching 114.37 trillion Vietnamese dong (some 5.13 billion U.S. dollars) while state-owned commercial banks and join-stock commercial banks grew 16.69 percent. Foreign and joint-venture banks witnessed a 9.63 percent growth in total assets, SBV reported.

More than 45 percent of the systems total assets came from state-owned commercial banks. Group of joint-stock commercial banks was the second largest contributor with 40 percent, tailed by foreign and joint-venture banks in Vietnam with 9 percent of the total assets.

Lowest and highest capital adequacy ratio (CAR) were reported by the group of state-owned commercial banks and the group of foreign and joint-venture banks, at 9.92 percent and 33.2 percent, respectively.

Total equity of the system climbed to 639.661 trillion Vietnamese dong (some 28.68 million U.S. dollars), rising 10.66 percent compared to the end of 2015, said SBV. Endit