Total assets of commercial banks under state ownership accounted for 42.7% of the total in the banking sector, followed by joint stock commercial banks with 41.6%.
Over the past year, Vietnam’s customs and tax authorities have taken steps to reform administrative procedures, improve the business environment and help enterprises perform their integration commitments in the most efficient manner.
By the end of 2025, Vietnam targets to have at least 80% of adults in the country to have bank accounts and the number of non-cash transactions to expand 20 – 25% annually.
Techcombank has reported a 20 percent year-on-year surge in 2019 consolidated pretax profits to more than VND12.8 trillion ($552.8 million).
Banks, ATMs, and online banking systems have been overloaded towards the end of the Lunar New Year, forcing customers to wait long hours.
Remittances sent to Viet Nam through banks in 2019 exceeded US$2.5 billion, up by 12 per cent compared with the previous year.
The dong could average slightly lower this year to VND23,475 per dollar down from VND23,230 per dollar in 2019, according to Fitch Solutions.
Viet Nam Prosperity Joint Stock Bank (VPBank) announced a record 2019 consolidated pre-tax profit of VND10.3 trillion (US$445 million), exceeding 9 per cent of the yearly plan and up 12.3 per cent compared to 2018.
The Vietnam International Bank (VIB) earned more than VND8.11 trillion (US$350 million) in revenue in 2019, up 33 per cent year-on-year, according to a financial report released on Monday.
The Vietnam Technological and Commercial Joint Stock Bank (Techcombank) earned pre-tax profit of VND12.8 trillion (US$550.7 million) and revenue of VND21.1 trillion, marking increases of 31.5 per cent and 24.7 per cent year on year, respectively.