HCM City, January 19, 2026 – The Europe Today: Việt Nam’s largest banks recorded record deposit inflows and double-digit credit growth in 2025, reinforcing their funding base and providing greater capacity to expand lending as the economy entered a recovery phase, bank executives said last week.
State-owned lenders Vietcombank, VietinBank, BIDV and Agribank — which together dominate Việt Nam’s banking system — all reported sharp increases in assets, deposits and loans, reflecting rising confidence among households and businesses as borrowing demand rebounded.
At Vietcombank’s annual business review last Thursday, chairman Nguyễn Thanh Tùng said the bank’s total assets reached VNĐ2.48 quadrillion (US$98 billion) by the end of 2025, up nearly 20 per cent year on year. Outstanding credit to the economy rose more than 15 per cent to VNĐ1.66 quadrillion, while customer deposits climbed over 10 per cent to VNĐ1.68 quadrillion, maintaining what the bank described as a safe balance between funding and lending.
VietinBank also posted strong results. Chairman Trần Minh Bình said total assets increased by about 18 per cent in 2025, with credit expanding roughly 16 per cent and deposits rising 12 per cent compared with the end of 2024.
BIDV, the country’s largest bank by assets, reported its balance sheet exceeded VNĐ3.25 quadrillion, up 20 per cent from a year earlier. Customer deposits grew nearly 14 per cent to more than VNĐ2.4 quadrillion, while outstanding credit rose over 15 per cent to above VNĐ2.3 quadrillion.
Agribank, which operates Việt Nam’s largest rural lending network, said total assets topped VNĐ2.6 quadrillion, an increase of 20.3 per cent. Deposits rose 17.6 per cent to VNĐ2.38 quadrillion, while its loan book approached VNĐ2 quadrillion, up 14.7 per cent.
Bankers described the surge in deposits — the strongest in several years — as easing funding pressures and reducing reliance on more expensive wholesale sources.
“This is creating room for banks to support production, trade and consumption as the economy continues to recover,” a senior banker said.
Profit outlook improves
The strong growth in deposits and lending is translating into improved profitability across much of the sector, analysts said.
MB Securities (MBS) said in a research note that industry earnings were on track for another solid year, although performance was becoming increasingly uneven. The brokerage forecast sharp profit growth at several large private banks in the fourth quarter of 2025, driven by aggressive credit expansion as demand rebounded.
According to MBS, Techcombank’s profit was expected to surge 81 per cent year on year in the final quarter, followed by HDBank at 41 per cent, VPBank at 37 per cent and TPBank at 31 per cent.
“These banks share strong capital positions and the ability to grow their loan books quickly, allowing them to capture rising demand from businesses and households,” the report said.
The fourth quarter is typically the busiest period for lenders, as companies borrow to finance production, exports, trade and consumption. This seasonal effect was particularly strong in 2025 as economic conditions stabilised and interest rates remained relatively low. If rates remain near current levels, full-year banking sector profits could rise by more than 20 per cent, MBS added.
Uneven recovery
Despite the strong headline figures, analysts cautioned that the recovery remains uneven. Large banks with low-cost funding, extensive branch networks and diversified customer bases are widening their lead, benefiting from stronger net interest margins and robust deposit inflows.
Smaller lenders and foreign-owned banks, by contrast, are facing higher funding costs, narrower margins and heavier provisioning for credit risks.
“This cycle is increasingly rewarding scale and balance-sheet strength,” one banking analyst said. “Banks that can mobilise deposits at low cost and deploy them efficiently are pulling ahead.”
With deposits surging and credit demand rebounding, policymakers are closely monitoring lending to ensure funds are channelled into productive sectors rather than speculative activities, as Việt Nam seeks to sustain economic growth while safeguarding financial stability.
