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The Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietnamese: Ngân hàng Thương mại Cổ phần Công thương Việt Nam), trading as Vietinbank, is a state-owned Vietnamese bank. As of 2023, it is Vietnam's second-largest bank, with VND 1,800 trillion (around $76 billion) of assets under management .
As of December 31, 2023, LPBank's total assets reached over VND382,953 billion, [1] up 17% from the beginning of the year. Market segment 1 mobilization activities reached VND285,342 billion; [ 2 ] [ 3 ] credit growth reached VND39,686 billion with a rate of 16.83%, in line with the ceiling allowed by the State Bank of Vietnam .
Banking in Vietnam started in 1976 with the State Bank Vietnam, which became the central bank of the country. Vietnam's banks suffer from low public confidence, regulatory and managerial weakness, high levels of non-performing loans (NPL), non-compliance with the Basel capital standards, and the absence of international auditing.
The Vietnam International Commercial Joint Stock Bank (Vietnamese: Ngân hàng TMCP Quốc tế Việt Nam), abbreviated as "VIB", [1] [2] is a commercial bank in Vietnam. [ 3 ] [ 4 ] It was established in 1996 and is headquartered in Ho Chi Minh City.
The ability to resolve bad debts is a pressing issue that requires BIDV's attention in recent times. [13] [14] The bank's bad debt level remains high, with provisions for bad debts rising to 87.1% by the end of September 2020, the highest increase in the past two years. [15]
In 2001, the ruling Communist Party of Vietnam approved a 10-year economic plan that enhanced the role of the private sector, while reaffirming the primacy of the state. [36] Growth then rose to 6% to 7% between 2000 and 2002 even in the midst of the global recession , making it the world's second fastest-growing economy.
Vietnam joined the World Bank Group (WBG) on 21 September 1956. [1] Before the mid-1980s, Vietnam was one of the world's least developed countries.A series of economic and political reforms launched in 1986, known as Đổi Mới, caused Vietnam to experience rapid economic growth and development, becoming a lower middle-income country.
By Forbes TheGlobal2000 for 2023 [1] SEA rank World rank Company Industry Sales (billion $) Profits (billion $) Assets ... Vietnam: 5.4 13 Bank Negara Indonesia