6.3 per cent rise recorded this year, according to central bank.
Total assets in the entire banking sector as at the end of October stood at VND6,174 trillion ($291.2 billion), according to figures from the State Bank of Vietnam.
The rise in total assets was primarily due to an increase in assets of 8.27 per cent by State-owned banks, to VND2,172 trillion ($102.5 billion), and 1 per cent by joint stock commercial banks, to VND2,624 trillion ($123.7 billion).
Equity stood at VND497.24 trillion ($23.6 billion), an increase of 3.4 per cent against the beginning of the year, of which equity at State-owned commercial banks was VND168.28 trillion ($8 billion) and VND203.28 trillion ($9.68 billion) at joint stock commercial banks. The charter capital of the whole banking industry was VND435.243 trillion ($20.7 billion)
As at October 31, Return on Assets (ROA) stood at 0.51 per cent. The ROA of State-owned commercial banks was equivalent to the average of the whole system, at 0.53 per cent, while that of joint stock commercial banks was 0.4 per cent and foreign banks 0.61 per cent. Meanwhile, the Return on Equity (ROE) of the whole system was 5.49 per cent, with 6.92 per cent at State-owned commercial banks and 4.64 per cent at joint stock commercial banks.
The Capital Adequacy Ratio (CAR) in the whole system at the end of October was 13.22 per cent, much higher than the permitted level of 9 per cent. The CAR of financial companies and credit organizations reached more than 30 per cent, while at joint stock commercial banks it was 12.27 per cent and 9.89 per cent at State-owned commercial banks.