Vietnam banks suffer asset loss

Evaporating assets?

In September, the total assets of state-owned banks fell from $103.75 billion at the end of August to $103.45 billion.

According to the State Bank of Vietnam, in the January-September period, the total assets of the system of credit institutions reached more than $243.3 billion, down 1.89 percent from the end of 2011.

Of the 5 types of credit institutions, joint-stock banks, joint venture banks, foreign banks and financial and financial leasing companies had their assets reduced.

The group of joint stock banks had the total assets at the end of September reached $105.125 billion, down 7.06 percent from the end of 2011. Compared to $111.23 billion of August, this number decreased by approximately 5.5 percent.

Joint venture banks and foreign banks reached $26.09 billion, down 4.56 percent from the end of 2011. The total assets of financial leasing companies also declined up to 6.07 percent.

In contrast, by the end of the third quarter, the state-owned commercial banks continued growing with total assets of more than $103.455 billion, up 5.05 percent from last year but down slightly from $103.77 billion at the end of August.

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