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Vietnam has a vibrant banking system with a mix of local and foreign banks. There are over 150 banks operating in the country.
One of the most well-known local banks is Vietcombank, established in 1988 and widely regarded as one of the largest and most influential banks in Vietnam.
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State-Operated
State-Operated Banks in Vietnam have a significant presence in the country's financial sector. Here are a few notable examples:
Vietnam Bank for Agriculture and Rural Development, also known as Agribank, is headquartered in Hanoi and has a charter capital of 40,963 VNDbil. Its website is agribank.com.vn.
Ngân hàng Thương mại TNHH MTV Xây dựng Việt Nam, or Vietnam Construction Bank LLC, has a charter capital of 3,000 VNDbil and is headquartered in Long An. You can visit their website at https://www.cbbank.vn/.
State-owned Banks in Vietnam include Bank for Investment and Development of Vietnam (BIDV), Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank), Vietnam Bank for Agriculture and Rural Development (Agribank), and Vietnam Bank for Industry and Trade (Vietinbank).
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Here is a list of some state-operated banks in Vietnam:
Foreign Banks in Vietnam
Foreign banks in Vietnam have a significant presence, with several major players operating in the country. Shinhan Bank Vietnam is a notable example, having acquired ANZ's local operations in 2018.
Some of the foreign banks in Vietnam include Bank of China, Bank of India, BNP Paribas, CIMB Bank, Citibank Vietnam, Deutsche Bank, Hong Leong Bank, HSBC, and United Overseas Bank.
Here's a list of some of the foreign banks in Vietnam, along with their country of origin and headquarters location:
Foreign
Foreign banks have a significant presence in Vietnam, with many operating branches across the country. There are several foreign banks that have a notable presence in Vietnam.
Shinhan Bank Vietnam is a South Korean bank with its headquarters in Ho Chi Minh City. It has a strong presence in the country, with a long history of operations dating back to 1994.
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HSBC Vietnam is a British bank with its headquarters in Ho Chi Minh City. It has a significant presence in the country, with a large number of branches and a wide range of financial services.
Standard Chartered Vietnam is another British bank with its headquarters in Hanoi. It has a strong presence in the country, with a long history of operations dating back to 1995.
CIMB Vietnam is a Malaysian bank with its headquarters in Ho Chi Minh City. It has a significant presence in the country, with a large number of branches and a wide range of financial services.
Public Bank Vietnam is also a Malaysian bank with its headquarters in Hanoi. It has a strong presence in the country, with a long history of operations dating back to 1993.
UOB Vietnam is a Singaporean bank with its headquarters in Ho Chi Minh City. It has a significant presence in the country, with a large number of branches and a wide range of financial services.
Here's a list of some of the foreign banks operating in Vietnam:
These are just a few examples of the many foreign banks operating in Vietnam. Each of these banks has its own unique history and presence in the country.
Foreign Trade
Vietcombank is a top choice for foreign trade in Vietnam, with a strong brand and low funding costs due to high customer deposits.
Their market presence is impressive, with a listing on the Ho Chi Minh Stock exchange since 2009, and they hold the highest ranking among Vietnam banks by international credit rating firms.
Customer deposits account for around 80% of their total funding, a significant advantage in managing costs.
Vietcombank's leadership in current account savings accounts (CASA) is another notable achievement, reflecting their strong position in the market.
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Private Joint-Stock
Private Joint-Stock Commercial Banks in Vietnam are numerous, with over 30 institutions operating in the country.
An Binh Commercial Joint Stock Bank is one of the oldest and most well-established private joint-stock commercial banks in Vietnam.
Asia Commercial Bank (ACB) is another prominent player in the Vietnamese banking sector.
Bac A Commercial Joint Stock Bank (Bac A Bank) offers a range of financial services to individuals and businesses.
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Bao Viet Joint Stock Commercial Bank provides a variety of banking products and services to its customers.
Global Petro Commercial Joint Stock Bank specializes in providing financial services to the petroleum industry.
Great Asia Commercial Joint Stock Bank offers a range of banking products and services to individuals and businesses.
Great Trust Joint Stock Commercial Bank provides a variety of financial services to its customers.
Hanoi Building Joint-stock Commercial Bank offers a range of banking products and services to its customers.
Housing Development Commercial Joint Stock Bank (HDBank) provides financial services to individuals and businesses.
Kien Long Commercial Joint Stock Bank offers a range of banking products and services to its customers.
LienViet Post Commercial Joint Stock Bank specializes in providing financial services to the postal sector.
Maritime Commercial Joint Stock Bank (Maritime Bank) provides a variety of banking products and services to its customers.
Mekong Commercial Bank offers a range of financial services to individuals and businesses.
Mekong Development Joint Stock Commercial Bank provides a variety of banking products and services to its customers.
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Military Commercial Joint Stock Bank (MB Bank) offers a range of financial services to individuals and businesses.
Nam Viet Commercial Joint Stock Bank provides a variety of banking products and services to its customers.
OCEAN Commercial Joint Stock Bank offers a range of financial services to individuals and businesses.
Orient Commercial Joint Stock Bank (OCB) is one of the largest private joint-stock commercial banks in Vietnam.
Sai Gon Joint Stock Commercial Bank provides a variety of banking products and services to its customers.
Sai Gon Thuong Tin Commercial Joint-stock Bank (Sacombank) is a well-established bank in Vietnam.
Saigon-Hanoi Commercial Joint Stock Bank offers a range of financial services to individuals and businesses.
Southeast Asia Commercial Joint Stock Bank (SeABank) provides a variety of banking products and services to its customers.
Southern Commercial Joint Stock Bank offers a range of financial services to individuals and businesses.
Tien Phong Commercial Joint Stock Bank (TP Bank) is a prominent player in the Vietnamese banking sector.
Viet A Commercial Joint Stock Bank provides a variety of banking products and services to its customers.
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Viet Capital Commercial Joint Stock Bank (Viet Capital Bank) offers a range of financial services to individuals and businesses.
Viet Nam Public Bank (PVcomBank) is a well-established bank in Vietnam.
Viet Nam Technological and Commercial Joint Stock Bank (Techcombank) is one of the largest private joint-stock commercial banks in Vietnam.
Viet Nam Thuong Tin Commercial Joint Stock Bank provides a variety of banking products and services to its customers.
Vietnam International Commercial Joint Stock Bank (VIB) offers a range of financial services to individuals and businesses.
Vietnam Prosperity Joint Stock Commercial Bank (VPBank) is a prominent player in the Vietnamese banking sector.
Western Bank (Phuong Tay Bank) provides a variety of banking products and services to its customers.
Western Rural Commercial Joint Stock Bank offers a range of financial services to individuals and businesses.
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Banking Services and Information
In Vietnam, banking services are widely available, with many banks offering a range of products and services to cater to different customer needs.
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Some banks in Vietnam offer online banking services, allowing customers to manage their accounts, pay bills, and transfer funds remotely. This can be a convenient option for those who prefer to manage their finances from the comfort of their own homes.
Many Vietnamese banks also offer mobile banking apps, enabling customers to access their accounts and perform transactions on the go. For example, Vietcombank's mobile banking app allows customers to transfer funds, pay bills, and check account balances using their smartphones.
In addition to online and mobile banking, some banks in Vietnam also offer ATM services, allowing customers to withdraw cash and perform other transactions at ATMs across the country.
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Atms
ATMs are widely available in Vietnam, making it easy to access your cash.
The U.S. Dollar is widely accepted in Vietnam, but it's often better to pay in the local currency, the Vietnamese Dong.
You can withdraw Vietnamese Dong from ATMs using your credit card.
Be aware that using an ATM in Vietnam may incur a foreign transaction fee from your bank.
Swift Codes
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Swift codes are used for international transactions and can be found on the SWIFT codes list for all banks in Vietnam. They are usually 8 or 11 characters long and are used to identify the bank and branch.
The first four characters represent the bank code, and the next four characters represent the branch code. For example, the bank code for Agricultural Bank of China Limited is ABO.
Here's a list of some of the banks and their corresponding SWIFT codes:
Some banks have multiple branches with different SWIFT codes. For example, HSBC Bank (Vietnam) Ltd. has several branches in Ho Chi Minh City with different SWIFT codes.
It's worth noting that not all banks in Vietnam have SWIFT codes. Some banks may use alternative identification methods for international transactions.
Rankings and Comparisons
In the Vietnamese banking scene, we have several major players. Vietnam Bank is one of them.
The bank has a significant presence in the country, with various branches and services offered. It's also listed on the Vietnam stock market, making it a popular choice for investors.
Let's take a look at some key rankings and comparisons of Vietnam Bank with other major banks in the country.
Top 5
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In the world of banking, rankings can be a great way to gauge performance and competitiveness. The top 5 banks in Vietnam by stock market capitalization are a great example of this.
VIETCOMBANK, the Commercial Bank for Foreign Trade of Vietnam, takes the top spot with its impressive market capitalization.
TECHCOMBANK, the Vietnam Technological And Commercial Bank, comes in second, showing its strength in the market.
BIDV, the Commercial Bank For Investment And Development Of Vietnam, ranks third, demonstrating its significant presence in the sector.
VP BANK, the Vietnam Prosperity Joint Stock Commercial Bank, ranks fourth, with a notable market capitalization.
VIETINBANK, the Vietnam Commercial Bank For Industry And Trade, rounds out the top 5, showcasing its solid performance in the market.
Here are the top 5 banks in Vietnam by stock market capitalization:
Stock Comparison
When evaluating the major banks in Vietnam, it's essential to consider their stock performance.
Vietnam Bank is one of the major banks listed on the Vietnam stock market.
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The bank's stock has been performing well, making it a popular choice among investors.
According to the Vietnam bank stock comparison, Vietnam Bank's stock price has been steadily increasing over the past year.
This is a significant factor to consider when comparing it to other banks.
The stock market can be unpredictable, but Vietnam Bank's consistent growth makes it an attractive option.
Vietnam Bank's stock price has increased by 20% over the past year, outperforming many of its competitors.
This is a testament to the bank's strong financials and steady growth.
In contrast, other banks may have experienced fluctuations in their stock prices.
Vietnam Bank's stability makes it a reliable choice for investors.
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Frequently Asked Questions
What are the Big 4 banks in Vietnam?
The Big 4 banks in Vietnam are BIDV, Vietcombank, VietinBank, and Agribank, which are the country's largest and most influential financial institutions. These banks have announced preliminary positive business results for 2024.
Sources
- https://en.wikipedia.org/wiki/List_of_banks_in_Vietnam
- https://www.vietnam-briefing.com/doing-business-guide/vietnam/tools/list-of-major-banks-in-vietnam
- https://wise.com/us/blog/money-and-banks-in-vietnam
- https://www.theswiftcodes.com/vietnam/
- https://vietnamesestockmarket.com/2022/01/01/list-of-top-banks-in-vietnam/
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