Overview of Banks in Vietnam
The State Bank of Vietnam serves as the country’s central bank. Established in 1961, the country’s central bank supervises all credit institutions and banks in Vietnam to ensure their compliance with domestic monetary laws and policies.
The main functions of the State Bank of Vietnam include:
- Regulating the issuance of banknotes
- Maintaining currency reserves
- Securing monetary stability
- Managing the currency and credit system in Vietnam
- Formulating, implementing, and monitoring the monetary policy; prescribing broad parameters for banking operations
- Managing the circulation of banknotes and coins
- Managing foreign exchange
- Acting as the banker’s bank
According to Moody, the outlook for Vietnam’s banking system is positive due to the country’s asset quality and profitability improvement in 2021 as the economy recovers from the pandemic-driven slowdown.
For anyone considering a banking career in Vietnam, this list of top banks in Vietnam is a helpful guide on where to start. To learn more, see our list of financial institutions.
The Top Banks in Vietnam are:
VietinBank – Industry and Trade
Established in 1988, VietinBank provides commercial banking products and services to individuals and corporate customers in the country. The bank manages 155 local branches; two representative offices, a trade finance center, five cash management centers, nine non-business units, and 958 transaction offices.
It also operates two foreign branches in Germany; a representative office in Myanmar; and a subsidiary bank in Lao People’s Democratic Republic. Headquartered in Hanoi, it employs 24,562 individuals.
Net income: VND 13.69 trillion (2020)
Total assets: VND 1,343.98 trillion (3/2021)
Agribank – Agriculture and Rural Development
Founded in 1988, Agribank is a state-owned bank and one of the largest banks in Vietnam. The specialized bank operates a network of 2,232 branches, 2,845 ATMs, and several transaction offices in Vietnam, and a representative office in the Kingdom of Cambodia. It offers 200 products and services and serves 12 million customers. With around 40,000 employees, it is based in Hanoi.
Net income: VND 11.12 trillion (2019)
Total assets: VND 1,452.4 trillion (2019)
Vietcombank – Foreign Trade
Vietcombank started its operations in 1963. It is a joint-stock commercial bank engaged in foreign trade. Headquartered in Hanoi, the bank employs around 20,000 staff and manages 155 branches and one southern customer center, two representative offices, nine non-business units, and 958 transaction offices; two foreign branches in Germany; one subsidiary bank in Laos; and one representative office in Myanmar.
Net income: VND 18.45 trillion (2020)
Total assets: VND 1,326 trillion (2020)
Bank for Investment and Development of Vietnam (BIDV)
Based in Hanoi, the Bank for Investment and Development of Vietnam (BIDV) was founded in 1957. The bank oversees 189 local branches, a branch in Myanmar, and 906 transaction offices and employs around 26,700 staff.
Net income: VND 7.0 trillion (2020)
Total assets: VND 1,559 trillion (3/2021)
Established in 1994, Hanoi-based Military Commercial Bank provides personal and corporate banking services for organizations and individuals in Vietnam. With around 15,380 employees, the bank operates a network of 101 branches, 198 transaction offices, and a representative office.
Net income: VND 8.26 trillion (2020)
Total assets: VND 510.96 trillion (3/2021)
Based out of Ho Chi Minh City, Saigon-Hanoi Commercial Joint Stock Bank (SHB) is one of the largest private banks in Vietnam. The bank offers deposits, loans and advances, foreign exchange transactions services, international trade finance services, and discounting of commercial papers, bonds, and other valuable services.
Founded in 1993, SHB employs 8,419 staff. It oversees 58 branches and 205 transaction offices in Vietnam, four branches in Cambodia, and one branch in Laos.
Net income: VND 2.61 trillion (2020)
Total assets: VND 418.41 trillion (3/2021)
Founded in 1993, Techcombank provides personal and corporate banking services in Vietnam. Additionally, it also offers investment banking services comprising margin trading, investment research, securities custody, and securities corporate action services; corporate finance and personal investment advisory services; and priority banking services.
The bank manages two representative offices and 309 transaction offices. With around 11,900 employees, it is headquartered in Hanoi.
Net income: VND 14.266 trillion (2020)
Total assets: VND 462.82 trillion (3/2021)
Saigon Commercial Bank (SCB)
Based in Ho Chi Minh City, Saigon Commercial Bank provides personal and corporate banking services in Vietnam. Established in 2012, the bank participates in major financial activities such as mobilizing deposits from individuals and corporations, providing loans and payment accounts, international payments, and trading foreign currency and gold. SCB oversees 50 branches and 189 transaction offices in 28 provinces/cities.
Net income: VND 170.2 billion (2019)
Total assets: VND 567.91 trillion (2019)
Vietnam Maritime Commercial Joint Stock Bank (Maritime Bank) was established in 1991. The bank’s major activities include providing domestic and international remittance services, providing loans to individual customers, and offering short-term deposit certificates and payment deposits, as well as e-banking services. Based in Hanoi City, it currently operates 230 branches in the country and employs around 5,000 employees.
Net income: VND 1.04 trillion (2019)
Total assets: VND 164.74 trillion (6/2020)
VP Bank – Vietnam Prosperity
Incorporated in 1993, VP Bank provides various banking financial products and services to organizations and individuals in Vietnam. The bank is involved in mobilizing short, medium, and long-term capital; providing short, medium, and long-term loans; trading foreign exchange; and discounting trade papers and bonds. It operates 62 branches and 167 transaction offices. It has around 23,045 employees.
Net income: VND 10.41 trillion (2020)
Total assets: VND 436.24 trillion (3/2021)
Careers in Investment Banking
To break into investment banking, there are several important things to focus on. These include networking, resume, experience, and financial modeling skills. To learn more, explore our interactive career map: For banking careers, you will have a significant edge over the competition with our financial modeling courses.
This has been a guide to the top banks in Vietnam. For anyone looking for a career in banking, this list is a great place to start your networking. Please also see these additional resources: