Vietnamese banks are sitting on a mountain of cash after a record breaking 2025. Major lenders reported massive spikes in deposits and loans as financial confidence returns to the market. This financial war chest is now set to fuel a nationwide economic recovery.
The banking sector has officially turned a corner following a year of aggressive growth. State owned giants and private lenders alike are flush with capital, signaling that businesses and households are ready to spend and borrow again.
State Giants Lead the Financial Charge
The “Big Four” banks have solidified their dominance over Vietnam’s financial system. Vietcombank, VietinBank, BIDV, and Agribank all posted double digit growth numbers that stunned analysts. These state owned lenders serve as the backbone of the economy. Their performance acts as a primary health indicator for the entire nation.
Vietcombank led the pack with an impressive financial display at their annual review.
Chairman Nguyễn Thanh Tùng revealed that the bank’s total assets hit nearly US$98 billion by the end of 2025. This represents a surge of nearly 20 per cent compared to the previous year. The bank successfully balanced its books while expanding its reach.
Customer deposits at Vietcombank jumped by over 10 per cent.
This influx of cash allowed the bank to push outstanding credit to the economy up by more than 15 per cent. The lender described this as a “safe balance” between the money coming in and the loans going out.
Other state lenders followed a similar upward trajectory.
BIDV cemented its position as Vietnam’s largest bank by assets. Their total balance sheet exceeded VNĐ3.25 quadrillion. This is a massive 20 per cent jump year on year. Their deposit base grew to over VNĐ2.4 quadrillion, giving them immense resources to fund large scale national projects.
Agribank also showed its strength in the rural sector.
The bank reported total assets climbing 20.3 per cent. Their loan book approached VNĐ2 quadrillion. This indicates a strong revival in the agricultural and rural development sectors which Agribank traditionally serves.
Private Banks Ride the Profit Wave
It is not just the state giants that are winning in this new economic climate. Private lenders are seeing their profits soar as they capture new business. A recent report by MB Securities (MBS) highlights this explosive trend.
Industry earnings are on track for a banner year.
Analysts at MBS forecast that large private lenders will post sharp profit growth for the fourth quarter of 2025. These banks are aggressive. They have moved quickly to meet the rebounding demand for loans from the private sector.
The projected profit jumps for the final quarter are staggering:
- Techcombank: Expected to jump 81%
- HDBank: Expected to rise 41%
- VPBank: Expected to climb 37%
- TPBank: Expected to grow 31%
These banks share a common advantage.
They possess strong capital positions and the ability to expand their loan books rapidly. This agility allows them to snap up market share as borrowing demand spikes.
The fourth quarter is traditionally the busiest time for Vietnamese banks.
Companies rush to borrow money to finance production for the Lunar New Year. Exporters need capital to fulfill year end orders. This seasonal rush was even more intense in 2025 as the global economy stabilized.
If interest rates remain at these current low levels, the outlook is incredibly positive. MBS suggests that full year profits for the entire banking sector could rise by more than 20 per cent. This would mark one of the best years for banking shareholders in a decade.
Economic Recovery Fuels Borrowing Spree
The surge in deposits is not happening in a vacuum. It is a direct result of shifting investment habits among the Vietnamese population. Real estate and bond markets have faced volatility in recent years.
Savers are choosing the safety of bank deposits over riskier investments.
This flight to safety has provided banks with cheap wholesale funding. They can now lend this money out without having to pay exorbitant interest rates to depositors. This dynamic creates a healthy ecosystem for credit growth.
“This is creating room for banks to support production, trade and consumption as the economy continues to recover,” a senior banker noted last week.
The connection between deposits and lending is vital.
When banks have plenty of cash on hand, they are more willing to approve loans. They can support factories that need to buy raw materials. They can help families looking to buy new homes or cars.
Here is a breakdown of how this capital is likely being deployed:
| Sector | Usage of Funds | Impact on Economy |
|---|---|---|
| Manufacturing | Expanding factories and buying inventory | Creates jobs and boosts exports |
| Retail | Financing inventory for Tet holiday sales | Increases consumer spending |
| Real Estate | Home loans for individual buyers | Revives the frozen property market |
| Green Energy | Funding solar and wind power projects | Supports sustainable development |
The availability of credit is the fuel that the engine of the economy needs.
With loan books expanding by 15 to 16 per cent across major banks, money is flowing into productive sectors. This prevents the economy from stalling and helps maintain the GDP growth targets set by the government.
The Widening Gap Between Rivals
Despite the celebratory headlines, not every bank is celebrating equally. A clear divide is forming within the banking sector. The recovery is proving to be uneven.
Large banks are pulling away from their smaller competitors.
Institutions with extensive branch networks and cheap funding sources are widening their lead. They benefit from rising net interest margins. This metric is the difference between what a bank earns on loans and what it pays on deposits.
Smaller lenders and some foreign owned banks face a tougher reality.
They do not have the same massive deposit bases as the Big Four. They often have to pay higher interest rates to attract customers. This eats into their profits.
“This cycle is increasingly rewarding scale and balance sheet strength,” one banking analyst observed.
Banks that can mobilize deposits at a low cost are the clear winners. They can deploy that capital efficiently. Smaller banks are forced to deal with narrower margins and heavier provisioning for potential bad debts.
Risk management has become the defining factor for success.
The divergence highlights a maturity in the Vietnamese market. It is no longer just about growing credit at any cost. It is about how well each institution manages its funding and its risks.
Policymakers at the State Bank of Vietnam are watching closely.
They want to ensure that this flood of lending flows into productive sectors. They are wary of speculative bubbles. The goal is to sustain economic growth without reigniting inflation or financial instability.
As Vietnam moves deeper into 2026, the banking sector stands as a pillar of strength. Record deposits and surging loans paint a picture of a nation that is back in business and ready for the future.
