The seven banks that made the Forbes list of the Top 50 listed enterprises in Vietnam in 2022 all have sustainable growth momentum. These financial institutions have, over time, amassed a sizable reserve of internal resources, developed sustainable growth, strengthened their capital base, and kept their safety and performance metrics among the highest in the industry.

Accordingly, the combined pre-tax profit of the seven aforementioned banks has almost quadrupled over the previous five years, from $1.3 billion in 2016 to $4.34 billion in 2021. Among them, Vietcombank has maintained its profit size lead.

According to the State Bank of Vietnam (SBV), many Vietnamese banks are at the top in terms of digital transformation, with 90 per cent of customer transactions being performed on digital channels, exceeding the previous target of 70 per cent set by the central bank.

Over 90 per cent of all banking transactions now take place via digital channels, and six of the seven best-listed banks have made significant investments to upgrade their technical infrastructure and place them at the top of the rankings.

These seven banks have all now implemented the Basel II standard, maintaining a capital adequacy ratio (CAR) above the SBV’s threshold of 8 per cent.

Four of the private commercial banks on this Forbes list, including VIB, MB, ACB, and TPBank, boast CARs of over 11 per cent. This strong ratio will assist banks in establishing a robust buffer, assuring future sustainable growth momentum.

Another noteworthy aspect is the strategic partnerships that these banks have formed with other prominent financial institutions and organisations, particularly foreign investors, such as Vietcombank – Mizuho (Japan), VietinBank – MUFG (Japan), BIDV – KEB Hana Bank (South Korea), and VIB – Commonwealth Bank (Australia).

This helps those credit institutions construct a strong basis of governance and adopt international know-how, which in turn lays the groundwork for sustainable growth.