The ten banks honoured as the most prestigious commercial banks in the country in 2023 are Vietcombank, VietinBank, Techcombank, BIDV, Military Bank, VPBank, ACB, AgriBank, TPBank, and VIB.
Meanwhile, the list of the ten most prestigious private joint-stock banks comprises Techcombank, VPBank, ACB, TPBank, VIB, HDBank, Sacombank, SHB, MSB, and SeABank.
Vietnam Report General Director Vu Dang Vinh said that as of the end of May, total credit increased by 3.17% from the end of 2022, significantly lower than the 8% recorded in the same period last year. The before-tax profit of the bank systems in the first quarter was lower than expectations.
Vietnam Report's survey results in 2023 show that there is no expectation of breakthrough growth in the last six months of this year compared to the same period last year.
Instead, most banks believe that in the second half of 2023, the entire industry will be in a stable state, maintaining a growth rate of 44.2% compared to 42% recorded in the survey last year.
Based on its survey results, Vietnam Report points out challenges of the banking industry in 2023 including increasing bad debt, inflation risk, low global economic growth, and recession of the stock, real estate, and bond markets.
