The Top 20 Budget-Contributing Banks in Vietnam

Following the list of the top 20 private banks with the largest budget contributions in Vietnam, CafeF is honored to present the Top 20 Banks with the Largest Budget Contributions in Vietnam – an important part of the prestigious PRIVATE 100 and VNTAX 200 accolades. This list includes state-owned, private, and foreign-invested banks, honoring the industry’s contribution to the national budget and showcasing its social responsibility as a pillar of the economy.

Vietnam’s banking industry has long been likened to the “backbone” of the economy, with a mission not only to provide capital and create hundreds of thousands of high-quality jobs but also to support national development projects through substantial budget contributions.

These contributions include corporate income tax (CIT), personal income tax (PIT), value-added tax (VAT), along with a range of fees and other payments, which are directly transferred to the state budget. This vital source of funding supports essential sectors such as modern education, public healthcare, transportation and energy infrastructure development, national defense and security enhancement, and social development programs aimed at poverty reduction and environmental protection.

The year 2024 marked a significant leap for the banking industry, with the total budget contributions from the top 20 banks surpassing 95.4 trillion VND – a staggering increase of over 15.2 trillion VND (equivalent to 19% ) compared to the 80.2 trillion VND recorded in 2023, and a remarkable 68% surge from the 56.8 trillion VND contributed in 2022.

This remarkable achievement occurred amidst Vietnam’s strong economic recovery from the pandemic, with GDP growth exceeding expectations, flexible monetary policies from the State Bank of Vietnam (SBV), including maintaining low policy rates, and surging credit demand from production, export, real estate, and consumer sectors. Banks seized these opportunities to expand their operations, diversify financial products, and enhance management efficiency, resulting in record profits and astounding budget contribution growth.

The banks’ substantial contributions to the state budget not only build solid trust with customers, shareholders, and partners but also elevate their reputation in the regional and global financial landscape. These impressive figures testify to their superior business strategies, risk management capabilities, and long-term commitment to the mission of “a prosperous Vietnam.”

Based on actual payment data for the 2024 fiscal year from public and verified sources, the Top 20 list is arranged in descending order, with the “Big4” state-owned commercial banks dominating and a strong showing from private banks.

Leading the list is Vietcombank with a contribution of 12,045 billion VND , reinforcing its position as the industry leader thanks to its extensive network, diverse products, and stable profits. Following closely are BIDV (10,074 billion VND), Agribank (9,178 billion VND), and VietinBank (8,973 billion VND).

The Big4 (Vietcombank, BIDV, Agribank, VietinBank) collectively contributed 40,270 billion VND , accounting for over 42% of the total budget contributions of the top 20 banks, with an average growth rate of 30.5%, underscoring the pivotal role of state-owned banks in contributing to the national budget.

Ranking fifth in the list is MB with 8,625 billion VND .

Leading the pack among private banks  is Techcombank with 6,775 billion VND, maintaining its top position among private banks for three consecutive years. Closely following are HDBank (6,021 billion VND – a doubling of its contribution from 2023), VPBank (5,846 billion VND), and ACB (5,507 billion VND).

The group contributing between 1,000 and 4,000 billion VND includes: Sacombank, LPBank, VIB, SHB, TPBank, MSB, SeABank, Nam A Bank, OCB, Eximbank, and HSBC, with several banks recording remarkable growth , such as Sacombank (80%) and LPBank (79.5%).

2024 presented the banking industry with numerous challenges: global financial fluctuations due to geopolitical tensions, exchange rate pressures, and bad debt risks. However, thanks to smart business strategies and supportive government policies, banks turned these challenges into opportunities and emerged stronger, with record-breaking industry-wide profits.

The publication of the List of Top 20 Banks with the Largest Budget Contributions in Vietnam aims to widely promote corporate social responsibility (CSR), encourage the industry to continue investing in technology, people, and community, and foster a robust future for Vietnam’s economy.

A prominent trend in 2024 was comprehensive digitalization : Banks invested thousands of billions of VND in AI, blockchain, and mobile applications, delivering superior customer experiences. TPBank , VIB , and VPBank took the lead with innovative products in cards, digital payments, and branchless banking. Simultaneously, the industry focused on bad debt handling, strengthened international cooperation to enhance competitiveness and governance, and embraced environmental, social, and governance (ESG) criteria.

Looking ahead to 2025, the outlook for the banking industry is very positive, with the government targeting GDP growth of over 8%, flexible monetary policies, and an expected credit demand increase of 18-20%. Banks will continue to expand credit, develop green financial products, and invest in 4.0 technology to serve a diverse customer base.

However, the industry must remain vigilant against global risks such as geopolitical conflicts, climate change, and cybersecurity threats. The keys to success lie in robust risk management, improving asset quality, strict adherence to legal regulations, and ensuring long-term sustainable development.