Vietnamese banks collectively disbursed over 13 quadrillion VND (approximately $515 billion USD) in loans in 2024, with the country’s four largest banks accounting for more than 40% of the market. BIDV led the sector, surpassing 2 quadrillion VND (around $79 billion USD) in outstanding loans.

Data from 26 commercial banks, excluding Eximbank, VietBank, and five weaker institutions, revealed that total outstanding loans in 2024 reached 13.026 quadrillion VND.

The Big 4 banks - Agribank, BIDV, Vietcombank, and VietinBank - held 47% of the total market share and occupied the top four positions in lending.

BIDV led the system with 2.013 quadrillion VND in outstanding loans, marking a 15.71% increase from the previous year.

Agribank followed in second place with 1.72 quadrillion VND, an increase of 10.81%. VietinBank and Vietcombank secured the third and fourth spots with 1.708 quadrillion VND and 1.435 quadrillion VND, growing by 17% and 14% respectively.

These four banks were the only ones to surpass the 1 quadrillion VND mark in lending.

Beyond the Big 4, MB secured fifth place with 734.6 trillion VND in loans, recording an impressive 27% growth rate, one of the highest in the sector.

VPBank and Techcombank followed in sixth and seventh place, with loan growth rates of 24% and 20.67% respectively.

ACB, Sacombank, and SHB completed the top ten, each surpassing 500 trillion VND in lending. In terms of growth rate, NCB topped the list with a 28.6% increase, followed by HDBank at 26.2%, MB at 27.1%, and VPBank at 24.1%.

At the other end of the spectrum, ABBank, Saigonbank, and Bac A Bank reported the lowest loan growth.

ABBank had the weakest performance, with credit expansion at just 0.64%. Saigonbank recorded the lowest absolute lending volume, disbursing only 19.97 trillion VND, which accounted for just 0.16% of the total market share.

The State Bank of Vietnam implemented several measures in 2024 to facilitate access to credit, stabilize the economy, and control inflation.

By December 31, total credit in the economy had grown 15.08%, with a strong focus on production, business, and priority sectors.

Several credit programs were rolled out, including a 145 trillion VND initiative for social housing, worker housing, and the renovation of old apartment complexes, as well as specialized loans for forestry and fisheries development.

The banking sector also took swift action to provide financial relief for businesses impacted by natural disasters.

Tuan Nguyen