Vietnamese banks' total assets drop in Q1

Source: Xinhua | 2020-05-20

The total assets of credit institutions and foreign banks in Vietnam by the end of the first quarter of this year inched down 0.72 percent to 12.48 quadrillion Vietnamese dong (542.6 billion U.S. dollars) compared with the end of last year.

Assets of four large state-owned banks, Agribank, Vietcombank, VietinBank and BIDV, accounted for 41.76 percent of the total, daily newspaper Vietnam News cited the latest report by the State Bank of Vietnam as reporting on Tuesday.

Equity capital of credit institutions and foreign banks' branches in Vietnam reached 937.9 trillion Vietnamese dong (40.8 billion U.S. dollars).

However, experts were concerned that surging overdue loans from the COVID-19 pandemic-induced economic fallout could threaten Vietnamese banks' capital accretion momentum, with many banks likely to face capital shortfalls should the weak economic conditions persist, the newspaper reported.