The dissertation uses the estimation technical efficiency by the DEA method
(TEVRS) as the dependent variable in the Tobit regression model to analyze the factors
affecting the business performance of the Vietnam Joint-Stock Commercial Bank. This way
of implementation helps to accurately assess the factors affecting the efficiency of operating
activities of joint-stock commercial banks in Vietnam in the period 2013-2018.
+ Based on the current status of the operating activities and the trend and the level of
the impact of factors on the efficiency of the operating activities of the Vietnam Joint Stock
Commercial Bank system, the thesis has evaluated the results, limitations, and causes of the
limitations of efficiency. results of business activities of the Vietnam Joint-Stock
Commercial Bank system
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ring the efficiency of labor use; (4)
Group of indicators to measure cost control effectiveness; (5) Group of indicators measuring
the effectiveness of risk prevention; (6) Group of indicators measuring the effectiveness of
management and administration.
+ Clarify the factors affecting the business performance of commercial banks and
selecting the appropriate factors in the context of the Vietnam Joint-Stock Commercial
Bank system in the analysis model.
6.2 Practical contributions
+ The thesis is the first comprehensive study using both approaches: traditional
approach (through financial indicators) and modern approach (through effective border
construction) to measure and evaluate the performance of the operating activities of joint-
stock commercial banks in Vietnam in the period 2013-2018. As for the modern approach,
8
the thesis combines both DEA and SFA methods to apply the advantages of these two
methods. The results of the study help to comprehensively evaluate the operating efficiency
of the Vietnamese commercial banks' system in the period 2013-2018.
+ The dissertation uses the estimation technical efficiency by the DEA method
(TEVRS) as the dependent variable in the Tobit regression model to analyze the factors
affecting the business performance of the Vietnam Joint-Stock Commercial Bank. This way
of implementation helps to accurately assess the factors affecting the efficiency of operating
activities of joint-stock commercial banks in Vietnam in the period 2013-2018.
+ Based on the current status of the operating activities and the trend and the level of
the impact of factors on the efficiency of the operating activities of the Vietnam Joint Stock
Commercial Bank system, the thesis has evaluated the results, limitations, and causes of the
limitations of efficiency. results of business activities of the Vietnam Joint-Stock
Commercial Bank system.
+ Proposing 6 groups of practical solutions for joint-stock commercial banks in
Vietnam and some recommendations suitable to relevant agencies to improve the efficiency
of business operations of the system of commercial banks in Vietnam in the coming time.
The results of the thesis would be a reference for bank administrators to evaluate the
efficiency of operating activities and find out solutions to improve the efficiency of
operating activities of the unit. At the same time, the thesis is also a reference source for the
authorities at all levels to build a system of policies to support the development of joint-
stock commercial banks in Vietnam in particular and the Vietnamese banking system in
general.
7. Structure of the thesis
In addition to the introduction, conclusion, list of references, and appendices, the
structure of the thesis includes 3 chapters:
Chapter 1: Theoretical basis on business performance of commercial banks
Chapter 2: Current status of business performance of joint-stock commercial banks in
Vietnam
Chapter 3: Solutions to improve the business performance of joint-stock commercial banks
in Vietnam
9
CHAPTER 1
THEORETICAL BASIS OF BUSINESS OPERATION EFFICIENCY OF
COMMERCIAL BANK
1.1. Commercial banks and commercial banks business operations
1.1.1 Overview of commercial banks
1.1.1.1 The concept of commercial banking
There are many different concepts of commercial banks, but they all have a common
point in the judgment: “Commercial banks are a special business in the monetary sector,
fully implementing banking activities such as receiving deposits, providing credit, providing
payment services and other business activities for-profit purposes ”. This is also the view of
commercial banks in this thesis.
1.1.1.2 Types of commercial bank
Based on the ownership form, commercial banks are classified into 5 categories,
namely:
a. State commercial banks
b. Joint-stock commercial bank
c. Joint-venture bank
d. Foreign commercial bank branches
e. 100% foreign-owned commercial banks
1.1.1.3 The role of the commercial bank in the economy
Commercial banks play an important role and are a strong premise for economic
development and growth, reflected in the following aspects:
- Regulating and improving the efficiency of capital use for the economy
- Promoting the development of financial markets
- Being a tool for the State to regulate the macro-economy
- Facilitating the development of foreign economic relations between countries
1.1.2 Business operations of commercial banks
1.1.2.1 Concept of commercial banks business activities
There are many different definitions of commercial banks' business operations. In the
most general sense: “Business activities of commercial banks are all activities of
commercial banks including capital mobilization, lending, and other service activities for-
10
profit purposes”. This is also a way to understand the business operations of commercial
banks in this thesis.
1.1.2.2 Characteristics of commercial banks' business operations
1.1.2.3 The main business activities of commercial banks
Source: Compiled by Nguyen Thi Phuong Lien (2011), Nguyen Thi Mui (2011), Le Van Te
(2007), Le Anh Tuan (2003)
Figure 1.1: Business operations of commercial banks
1.2 Business performance of commercial banks
1.2.1 The concept of business performance of commercial banks
From the above understanding of business performance and the research objectives of
the topic, we can give the concept of operating efficiency as follows: “Business
performance of commercial banks is an economic category that reflects the ability
transforming input into output, considering the relationship between the benefits
obtained from the bank's operating activities and the costs that the bank has spent”. This
is also the view on the operational efficiency of commercial banks in this thesis.
1.2.2 The need to improve the business performance of commercial banks
1.2.3 Methods of measureing the business performance of commercial banks
Business operations of
commercial banks
Capital creation
activities
Self-financing
activities
Capital
mobilization
Borrowing
activities
Other capital
creation
activities
Activities using
capital
Budget
operations
Credit
operations
Investment
activities
Service activities
Payment
Commission
Agency
11
From domestic and foreign researchers on the business performance of commercial
banks, it can be seen that the business performance of commercial banks is now viewed
under two angles: traditional and modern.
1.2.3.1 Mesure the performance of business activities of commercial banks according
to the traditional approach
Business performance of the bank according to the traditional approach is measured by
6 groups of indicators:
(i) Group of indicators to measure the efficiency of capital use
- Return on equity (ROE)
- Efficient use of mobilized capital
(ii) Group of indicators measuring the efficiency of using assets
- Return on total assets (ROA)
- Effective use of assets in non-credit activities
(iii) Group of indicators measuring the efficiency of labor use
- Profit before tax per employee
- The average income of bank staff
(iv) Group of indicators to measure cost control effectiveness
- The effective cost of operation
- The ratio of the total cost to total assets
(v) Group of indicators measuring the effectiveness of risk prevention
- The ratio of the credit risk provision against the total outstanding loan
- Capital adequacy ratio (CAR)
(vi) Group of indicators measuring the effectiveness of governance and administration
- The growth rate of total assets
- The growth rate of outstanding loans
- The growth rate of net income
1.2.3.2 Mesure the business performance of commercial banks according to the
modern approach
a. The methods of mearsuring the business performance of commercial banks
according to the modern approach
12
Diagram 1.1: Modern approach to measure the business performance of commercial
banks
Sources: Authors synthesis (Aigner and Chu, 1968; Deprins et al., 1984, Berger et al.,
1993; Charnes et al., 1994; Wagenvoort and Schure ,, 1999; Fried et al., 2002
a. Approaches for selecting input and output variables for efficient frontier
construction
b. Methods of data envelopment analysis (DEA) - Non-parametric approach
(i) Introduction to data envelope analysis (DEA) method
Data envelopment analysis (DEA) can be used to examine a bank's performance over
time or to gauge a bank's relative performance in comparison to other banks.
(ii) Performance metrics used in data envelope analysis (DEA)
-Technical efficiency (TE), allocation efficiency (AE), and total economic efficiency (CE)
- Efficient scale (SE)
- Pure technical efficiency (PE)
c. Methods of Stochastic Frontier Analysis (SFA) - Parametric approach
(i) Introduction to random margin analysis (SFA)
(ii) The function describing the relationship between input and output in random marginal
analysis method (SFA)
A modern approach to measuring the
performance of commercial banks' business
performance
Non-parametric approaches Parameter approaches
Data envelopment
analysis (DEA)
Free Placement
Analysis (FDH)
Stochatic Frontier
Analysis (SFA)
Distribution free
approach (DFA)
Thick frontier analysis
(TFA)
Recursive thick
frontier analysis
(RTFA)
13
1.2.4 Factors affecting the business performance of commercial banks
The business performance of commercial banks is affected by many factors, which can
be divided into 2 groups: subjective factors and objective factors.
1.2.4.1 Subjective factors
Subjective factors are internal factors of commercial banks themselves. Subjective
factors include:
- Financial capacity
- Ownership structure
- Market share
- Risk management capacity
- Cost control capacity
- Quality of personnel
- Technical and technology level
1.2.4.2 The objective factors
- Political factors
- Legal factors
- Macroeconomic factors
- Cultural - social factors
- Technical and technology factors
- Environmental factors
1.3 Analysis model of factors affecting the efficiency of business operations of
commercial banks
14
CHAPTER 2
THE SITUATION OF BUSINESS PERFORMANCE OF JOINT-STOCK
COMMERCIAL BANKS IN VIETNAM
2.1 An overview of the system of joint-stock commercial banks in Vietnam
2.1.1 Number of banks
In the period 2013 - 2018, there was a small variation in the number of joint-stock
commercial banks (down from 33 to 31 joint-stock commercial banks) due to the impact of
M&A deals.
Figure 2.1: Number of Vietnam Joint-Stock Commercial Banks
in the period 2013 - 2018
Unit: bank
Source: State Bank
2.1.2 Capital size
Table 2.1: Charter capital of Vietnam Joint Stock Commercial Banks in 2018
Unit: %
Year Charter capital (billion VND) Growth (%)
2016 308.250 -
2017 322.184 4,52%
2018 374.623 16,27%
Source: State Bank
2.1.3 Operational network
2.2 The current status of business performance of joint-stock commercial banks in
Vietnam
2.2.1 Measure the operating efficiency of joint-stock commercial banks in Vietnam in
the traditional approach
2.2.1.1 Capital efficiency
a. Return on equity (ROE)
Statistics of ROE value for the period of 2013 - 2018 are as follows:
33 33
28
31 31 31
25
30
35
2013 2014 2015 2016 2017 2018
15
Table 2.2: ROE of joint-stock commercial banks in Vietnam 2013-2018
Unit: %
Year
Number of
banks
Maximum
value
Minimum
value
Average
value
Standard deviation
2013 29 15.80 0.27 6.21 4.722
2014 29 15.27 0.25 6.48 4.709
2015 29 21.40 0.20 6.04 5.292
2016 29 25.70 0.08 6.99 6.390
2017 29 27.50 0.68 9.49 7.217
2018 29 27.73 0.86 11.45 8.915
Source: Author's SPSS statistics from Vietnam Joint-Stock Commercial Bank's Annual Report
b. Effective use of mobilized capital
Table 2.3: Efficiency in using mobilized capital of joint-stock commercial banks in
Vietnam 2013-2018
Unit: %
Year
Number
of banks
Maximum
value
Minimu
m value
Average
value
Standard
deviation
2013 29 0.03 2.29 0.83 0.593
2014 29 0.02 2.47 0.76 0.537
2015 29 0.02 1.57 0.58 0.443
2016 29 0.01 2.28 0.65 0.541
2017 29 0.04 4.07 0.90 0.904
2018 29 0.04 3.95 1.04 0.935
Source: Author's SPSS statistics from Vietnam Joint-Stock Commercial Bank's Annual Report
2.2.1.2 Efficient use of property
a. Return on assets (ROA)
Table 2.4: ROA of 29 joint-stock commercial banks in Vietnam 2013-2018
Unit: %
Year
Number of
banks
Maximum
value
Minimum
value
Average
value
Standard
deviation
2013 29 0.02 1.61 0.65 0.471
2014 29 0.02 1.31 0.59 0.391
2015 29 0.02 1.30 0.46 0.344
2016 29 0.01 1.90 0.53 0.458
2017 29 0.03 2.50 0.68 0.571
2018 29 0.04 2.87 0.89 0.758
Source: Author's SPSS statistics from Vietnam Joint-Stock Commercial Bank's Annual Report
16
b. Effective use of assets in non-credit activities
Table 2.5: The efficiency of asset use in non-credit activities
of 29 joint-stock commercial banks in Vietnam 2013-2018
Unit: %
Year
Number of
banks
Maximu
m value
Minimu
m value
Average value
Standard
deviation
2013 29 0.00 11.45 0.93 2.054
2014 29 0.00 16.31 1.09 2.954
2015 29 0.00 1.18 0.47 0.336
2016 29 0.07 1.67 0.52 0.371
2017 29 0.00 2.75 0.63 0.595
2018 29 0.00 2.25 0.84 0.522
Source: Author's SPSS statistics from Vietnam Joint-Stock Commercial Bank's Annual Report
2.2.1.3 Effective use of labor
a. Profit before tax per employee
Table 2.6: Profit before tax per employee of 29 joint-stock commercial banks in
Vietnam 2013-2018
Unit: million VND / person / month
Year
Number of
banks
Maximu
m value
Minimum
value
Average value
Standard
deviation
2013 29 4.7 34.1 17.1 9.561
2014 29 5.3 32.3 15.6 7.934
2015 29 2.8 39.5 19.3 11.982
2016 29 0.5 45.4 23.1 14.636
2017 29 6.2 68.4 28.7 16.438
2018 29 6.5 82.5 30.5 18.730
Source: Author's SPSS statistics from Vietnam Joint-Stock Commercial Bank's Annual Report
b. Average income of bank staff
Table 2.7: Average income of bank staff of 29 joint-stock commercial banks in
Vietnam 2013-2018
Unit: million VND / person / month
Year
Number of
banks
Maximu
m value
Minimum
value
Average value
Standard
deviation
2013 29 5 20 8 2.081
2014 29 6 20 9 3.238
2015 29 5 26 13 4.892
2016 29 6 29 17 3.084
2017 29 7 32 17 5.082
2018 29 8 38 19 7.235
Source: Author's SPSS statistics from Vietnam Joint-Stock Commercial Bank's Annual Report
17
2.2.1.4 Effective cost control
a. Operational cost effectiveness
Table 2.8: Operational cost effectiveness of 29 joint-stock commercial banks in
Vietnam 2013-2018
Unit: %
Year
Number of
banks
Maximu
m value
Minimum
value
Average value
Standard
deviation
2013 29 0.02 0.9 0.35 0.234
2014 29 0.01 0.8 0.35 0.219
2015 29 0.01 0.85 0.29 0.234
2016 29 0.00 0.75 0.30 0.234
2017 29 0.02 1.37 0.39 0.300
2018 29 0.04 1.45 0.44 0.349
Source: Author's SPSS statistics from Vietnam Joint-Stock Commercial Bank's Annual Report
b. The ratio of total cost to total assets
Table 2.9: The ratio of total cost to total assets of 29 joint-stock commercial banks in
Vietnam 2013-2018
Unit: %
Year
Number of
banks
Maximum
value
Minimum
value
Average
value
Standard
deviation
2013 29 0.36 2.75 1.67 0.544
2014 29 0.70 2.35 1.54 0.451
2015 29 0.84 2.94 1.58 0.499
2016 29 0.33 2.90 1.59 0.495
2017 29 0.75 3.20 1.59 0.515
2018 29 0.79 3.29 1.66 0.559
Source: Author's SPSS statistics from Vietnam Joint-Stock Commercial Bank's Annual Report
2.2.1.5 Effective risk prevention
a. The ratio of the credit risk provision to the total debt balance
Table 2.10: The ratio of the credit risk provision to the total debt balance of 29 joint-
stock commercial banks in Vietnam 2013-2018
Unit: %
Year
Number of
banks
Maximum
value
Minimum
value
Average
value
Standard
deviation
2013 29 0.20 3.47 1.53 0.748
2014 29 0.41 2.55 1.34 0.553
2015 29 0.78 3.37 1.28 0.549
2016 29 0.82 1.93 1.21 0.311
2017 29 0.83 2.39 1.25 0.383
2018 29 0.82 2.04 1.23 0.279
Source: Author's SPSS statistics from Vietnam Joint-Stock Commercial Bank's Annual Report
18
b. Capital adequacy ratio (CAR)
The statistical results show that all banks have CAR> 9%. In general, large banks have
lower CARs than small banks.
Table 2.11: Capital adequacy ratio of 29 joint-stock commercial banks in Vietnam
2013-2018
Unit: %
Year
Number of
banks
Maximum
value
Minimum
value
Average
value
Standard
deviation
2013 29 9.04 37.30 14.93 5.660
2014 29 9.05 37.50 14.09 5.511
2015 29 9.07 24.53 14.45 4.300
2016 29 9.09 23.59 13.74 3.830
2017 29 9.10 22.16 12.78 3.058
2018 29 9.58 19.00 12.31 2.178
Source: Author's SPSS statistics from Vietnam Joint-Stock Commercial Bank's Annual Report
2.2.1.6 Effective administration
a. The growth rate of total assets
Table 2.12: The growth rate of total assets of 29 joint-stock commercial banks in
Vietnam 2013-2018
Unit: %
Year
Number of
banks
Maximum
value
Minimum
value
Average
value
Standard
deviation
2013 29 0.00 112.23 23.04 25.323
2014 29 0.00 60.42 17.85 13.931
2015 29 0.00 53.86 15.29 13.788
2016 29 0.00 46.77 19.86 11.711
2017 29 4.20 42.49 19.63 7.929
2018 29 0.00 37.87 11.84 7.653
Source: Author's SPSS statistics from Vietnam Joint-Stock Commercial Bank's Annual Report
b. Debt growth rate
Table 2.13: Debt growth rate of 29 joint-stock commercial banks in Vietnam 2013-
2018
Unit: %
Year
Number of
banks
Maximum
value
Minimum
value
Average
value
Standard deviation
2013 29 0.00 108.20 22.51 26.979
2014 29 0.00 66.35 20.27 17.829
2015 29 0.00 49.02 24.96 12.420
2016 29 2.51 67.58 25.98 13.680
2017 29 3.12 51.19 22.60 9.679
2018 29 0.00 39.81 15.11 9.036
Source: Author's SPSS statistics from Vietnam Joint-Stock Commercial Bank's Annual Report
19
c. Net income growth rate
Table 2.14: Net income growth rate of 29 joint-stock commercial banks in Vietnam
2013-2018
Unit: %
Year
Number of
banks
Maximum
value
Minimum
value
Average
value
Standard
deviation
2013 29 0.00 125.10 16.78 31.026
2014 29 0.00 336.99 26.07 63.333
2015 29 0.00 112.90 22.77 26.695
2016 29 0.00 73.74 22.19 17.056
2017 29 0.00 56.96 24.42 16.552
2018 29 0.00 84.10 24.50 22.316
Source: Author's SPSS statistics from Vietnam Joint-Stock Commercial Bank's Annual Report
2.2.2 Measuring the operating efficiency of the system of joint-stock commercial banks
in Vietnam according to modern approach
Selection of research variables
Table 2.15: Variables in the analysis
Unit: billion dong
Variable input
- Interest expense (X1)
- Non-interest expenses (X2)
Variable output
- Interest income (Y1)
- Non-interest income (Y2)
Source: Author proposed
Describe the variables used in the study
Figure 2.16: Interest expenses and operating costs of joint-stock commercial banks in
Vietnam 2013-2018
Source: Author's calculation with the support of SPSS 22.0 software
6,121 5,935 6,329
7,815
9,645
11,549
2,042 2,207 2,556
3,099
3,731
4,265
-
5,000
10,000
15,000
20,000
2013 2014 2015 2016 2017 2018
Chi phí lãi Chi phí hoạt động
20
Figure 2.17: Interest income and non-interest income of joint-stock commercial banks
in Vietnam 2013-2018
Source: Author's calculation with the support of SPSS 22.0 software
2.2.2.1 Measuring the business performance of Vietnam joint-stock commercial bank
system by non-parametric method (DEA)
a. Measuring banks' business performance in a model of constant efficiency with DEA
(CRS)
Table 2.17: Measuring the business performance of 29 Vietnamese joint stock
commercial banks according to the unchanged efficiency model by DEA (CRS)
No Bank 2013 2014 2015 2016 2017 2018 Average
1 MB 1,000 1,000 0,898 0,808 0,806 0,735 0,875
2 VPbank 0,588 0,604 0,783 0,980 0,995 1,000 0,825
3 Vietcombank 0,707 0,725 1,000 0,785 0,773 0,876 0,811
4 BacA bank 0,731 0,781 0,756 0,762 0,892 0,781 0,784
5 BIDV 0,766 0,905 0,623 0,703 0,811 0,881 0,782
6 Techcombank 0,526 0,737 0,834 0,830 0,820 0,821 0,761
7 LienViet 0,769 0,599 0,865 0,813 0,769 0,667 0,747
8 SGB 0,804 1,000 0,708 0,622 0,680 0,619 0,739
9 OCB 0,845 0,682 0,692 0,659 0,688 0,763 0,721
10 Vietinbank 0,751 0,748 0,729 0,713 0,733 0,642 0,719
11 VietA bank 0,546 0,461 1,000 0,694 0,818 0,793 0,719
12
Tienphong
bank
0,593 0,616 0,724 0,658 0,894 0,652 0,689
13 SHB 0,457 0,680 0,718 0,674 0,675 0,699 0,650
14 PGbank 0,455 0,577 0,578 0,698 0,685 0,677 0,612
15 VIB 0,524 0,611 0,574 0,548 0,632 0,753 0,607
3,135 3,576
4,240 5,030
6,264 7,202 928
988
1,090
1,275
1,734
2,446
-
2,000
4,000
6,000
8,000
10,000
12,000
2013 2014 2015 2016 2017 2018
Thu nhập ngoài lãi
Thu nhập lãi
21
16 BaoViet 0,710 0,532 0,565 0,630 0,716 0,453 0,601
17 NamAbank 0,399 0,594 0,677 0,598 0,584 0,598 0,575
18 ACB 0,474 0,513 0,612 0,616 0,574 0,646 0,573
19 Kienlong 0,726 0,619 0,594 0,478 0,532 0,432 0,564
20 ABBank 0,480 0,552 0,578 0,587 0,570 0,512 0,547
21 Eximbank 0,522 0,560 0,610 0,563 0,495 0,456 0,534
22 Seabank 0,437 0,381 0,480 0,663 0,627 0,580 0,528
23 HDbank 0,144 0,372 0,565 0,597 0,652 0,719 0,508
24 Sacombank 0,650 0,619 0,540 0,291 0,340 0,403 0,474
25 SCB 0,446 0,494 0,695 0,491 0,241 0,298 0,444
26
Vietcapital
bank
0,482 0,435 0,408 0,375 0,466 0,441 0,434
27 MSB 0,469 0,446 0,361 0,501 0,331 0,431 0,423
28 NCB 0,394 0,402 0,469 0,367 0,470 0,399 0,417
29 PVcombank 0,292 0,140 0,111 0,230 0,294 0,232 0,216
Joint-stock
commercial banks
have dominant state
ownership
0,741 0,793 0,784 0,734 0,772 0,800 0,771
Joint-stock
commercial banks
do not have
dominant state
ownership
0,585 0,606 0,659 0,633 0,653 0,623 0,626
Average technical
efficiency of joint
stock commercial
banks
0,601 0,625 0,672 0,643 0,665 0,641 0,641
Source: Author's calculation results with the support of R software
Table 2.17 shows that with the assumption of constant efficiency according to scale,
commercial banks effectively use inputs and optimize output in the period 2013-2018 is MB
(2013, 2014); VPbank (2018); Vietcombank (2015); SGB (2014); VietAbank (2015); These
banks have an efficiency score of 1 and are on the efficiency frontier. In addition, other
joint-stock commercial banks in the sample all have efficiency scores <1, which are called
ineffective in terms of scale.
22
b. Measuring banks' business performance by scale-to-scale efficiency model DEA (VRS)
Table 2.18: Measuring the business performance of joint-stock commercial banks in
Vietnam 2013-2018 according to the change efficiency model by DEA (VRS)
No Bank 2013 2014 2015 2016 2017 2018 Average
1 MB 1,000 1,000 0,901 0,810 0,807 0,923 0,907
2 SGB 0,845 1,000 1,000 0,937 0,835 0,817 0,906
3 BIDV 0,766 0,941 0,709 0,755 0,902 1,000 0,845
4 Vietcombank 0,707 0,739 1,000 0,801 0,819 1,000 0,844
5 VietA bank 0,808 0,796 1,000 0,749 0,818 0,794 0,827
6 Vpbank 0,594 0,608 0,784 0,981 0,995 1,000 0,827
7 Techcombank 0,529 0,741 0,837 0,830 1,000 0,957 0,816
8 BaoViet 1,000 0,955 0,817 0,774 0,757 0,537 0,807
9 PGbank 0,645 0,762 0,923 0,902 0,759 0,747 0,790
10 BacA bank 0,731 0,782 0,757 0,762 0,893 0,782 0,784
11 OCB 0,894 0,734 0,730 0,683 0,702 0,772 0,753
12 LienViet 0,770 0,612 0,868 0,822 0,775 0,669 0,752
13 Vietinbank 0,770 0,758 0,736 0,740 0,790 0,674 0,745
14
Tienphong
bank
0,722 0,671 0,759 0,673 0,902 0,659 0,731
15 NamAbank 0,675 0,691 0,725 0,634 0,594 0,606 0,654
16 SHB 0,457 0,680 0,721 0,676 0,675 0,701 0,652
17 VIB 0,542 0,623 0,592 0,560 0,640 0,759 0,619
18 Kienlong 0,784 0,687 0,660 0,533 0,574 0,469 0,618
19 ACB 0,475 0,518 0,615 0,618 0,575 0,647 0,575
20
Vietcapital
bank
0,690 0,593 0,636 0,484 0,515 0,504 0,570
21 Abbank 0,505 0,576 0,602 0,607 0,584 0,525 0,567
22 Seabank 0,464 0,426 0,491 0,663 0,627 0,580 0,542
23 Eximbank 0,522 0,563 0,617 0,572 0,496 0,463 0,539
24 HDbank 0,292 0,380 0,574 0,602 0,655 0,721 0,537
25 MSB 0,628 0,617 0,370 0,508 0,337 0,434 0,482
26 Sacombank 0,653 0,621 0,542 0,294 0,342 0,403 0,476
27 NCB 0,488 0,501 0,522 0,406 0,479 0,405 0,467
28 SCB 0,447 0,494 0,699 0,491 0,241 0,341 0,452
29 Pvcombank 0,789 0,216 0,202 0,238 0,295 0,232 0,329
Joint-stock 0,748 0,813 0,815 0,765 0,837 0,891 0,811
23
commercial banks
have dominant state
ownership
Joint-stock
commercial banks
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