Vietnam Joint Stock Banks Provide Most of Dollar Loans

Joint stock commercial banks are the biggest U.S. dollar lenders in Vietnam, holding 36.92% of the country’s total outstanding dollar loans. Foreign-owned banks ranked the second with 30.32%.

 

The Joint Stock Commercial Bank for Foreign Trade of Vietnam (VCB), or Vietcombank, has so far provided US$2.2 billion in dollar loans, taking the lead among local banks in terms of dollar outstanding loans.

 

Meanwhile, HSBC Vietnam is the 100% foreign-invested bank having highest U.S. dollar outstanding loans, at US$500 million. 54.65% of Vietnamese dong outstanding loans were reported coming from state-owned commercial banks while only 3% sourced from foreign-invested ones.

 

The state-owned Vietnam Bank for Agriculture and Rural Development (Agribank) has disbursed VND395 trillion loans in dong so far, the highest among local lenders.

At present, Vietnam has 41 partly-privatized and joint stock banks; three state-owned banks; one bank for social policies; one for development; five wholly foreign-owned banks; five join venture banks and about 40 foreign bank offices. (Labor)