Announcing the 20 Private Banks with the Largest Budget Contributions in Vietnam

In 2024, the total budget contribution of the top 20 private banks will reach VND47,312 billion, an increase of nearly 13% compared to 2023 and one and a half times higher than in 2022.

Following the list of Real Estate Companies, Securities Companies and Insurance Companies, CafeF announced the list of Top 20 private banks with the largest budget contributions in Vietnam, part of the prestigious PRIVATE 100 and VNTAX 200 honors, to honor the outstanding contributions of private banks to the state budget.

The banking sector has long been considered the most important pillar of the Vietnamese economy, not only through providing capital, creating jobs and promoting economic growth but also through large budget contributions. Taxes and fees, including corporate income tax, personal income tax, VAT and other taxes, are transferred to the national budget to support essential sectors such as education, healthcare, infrastructure, national security and social development projects.

Transparency and honesty in budget payments not only strengthen the trust of customers, shareholders and the community but also affirm the prestige and position of banks in the market. These contributions are a testament to the sustainable business strategy, effective risk management capabilities and long-term commitment of banks to the development of the country.

The list of Top 20 private banks with the largest budget contributions in Vietnam not only recognizes the important role of banks in promoting economic development but also reflects the strong commitment of banks to social responsibility and sustainable development of the community.

The announcement of this list also contributes to spreading the spirit of social responsibility, encouraging banks to continue contributing to the sustainable development of Vietnam.

In 2024, the total budget contribution of the top 20 private banks will reach more than VND 47,300 billion, an increase of more than VND 5,400 billion (about 12.9%) compared to VND 41,900 billion in 2023 and one and a half times higher than VND 30,900 billion in 2022. This growth takes place in the context of positive economic growth in Vietnam, with flexible monetary policies and high credit demand, creating conditions for banks to expand their operations and contribute significantly to the national budget.

List of Top 20 private banks with the largest budget contributions in Vietnam in 2024, based on actual contributions in the 2024 fiscal year.

The group contributing VND 1,000 - 4,000 billion to the budget in 2024 includes other medium and large private banks such as Sacombank, LPBank, VIB, SHB, TPBank, MSB, SeABank, Nam A Bank, OCB and Eximbank.

2024 will witness a strong digitalization trend in the banking industry. Banks are investing heavily in digital technology to improve customer experience, reduce operating costs and expand market share. In particular, Techcombank, TPBank, and VIB are pioneers in applying technology, providing innovative and convenient financial products.

In addition, banks also focus on handling bad debts, strengthening risk management and complying with legal regulations. International cooperation and attracting foreign investment have helped banks improve their financial capacity, learn from experience and advanced technology, thereby enhancing their competitiveness in regional and international markets.

The outlook for Vietnam's banking industry in 2025 is positive thanks to the Government's determination to achieve an economic growth target of over 8%, flexible monetary policy and high credit demand. Banks are expected to continue to expand credit, develop new financial products and invest in technology to meet increasingly diverse customer needs.

However, challenges such as global financial market fluctuations, inflation risks and bad debt pressure still require banks to maintain strict risk management. Improving asset quality, internal control and compliance with regulations will be key factors to ensure sustainable development.