Top 10 banks with the largest total assets in Vietnam in 2023

An increase in total assets

At the end of 2023, the total assets of 28 banks that already announced their fourth quarter financial statements (excluding Agribank) reached nearly 14.8 million billion VND, an increase of 14.8% compared to the end of last year. Previously, at the end of the third quarter, the total assets reached 13.7 million billion VND, corresponding to an increase of 6.4%. 

All banks on the list recorded an increase in asset size, including 20 banks reporting a double-digit increase in total assets. HDBank was the bank with the highest asset growth rate, adding 44.7% or more than 186,000 billion VND after 12 months. MB and VPBank were also the two banks with rapid asset growth, reaching 29.7% and 29.6% respectively compared to the beginning of the year.

In terms of absolute balance, BIDV continued to maintain the top position in total assets with 2.3 million billion VND, an increase of 0.6% compared to the beginning of the year. The second position belonged to VietinBank with more than 2 million billion VND, an increase of 12.4%.

Agribank also had total assets exceeding the 2 million billion VND mark, however, the exact number has not yet been revealed. Vietcombank's assets reached nearly 1.84 million billion VND, only a slight increase of 1.4% compared to the end of last year.

In the group of joint stock commercial banks, MB continued to lead with a scale of nearly 945,000 billion VND, an increase of 29.7% compared to the end of 2022. MB is also the bank with the second-highest increase in absolute balance\, only behind VietinBank. The remaining positions in the top 10 have not changed compared to the end of last year with the order being Techcombank, VPBank, ACB, SHB, and HDBank respectively.

Banks such as MSB, Nam A Bank, and BVBank (Ban Viet) have improved their positions in the total asset rankings.

Ranking of total bank assets in 2023

Source: vietnambiz

Compiled by VBI