The expansion of Vietnam’s banking sector over the past decade can be seen in the growing number of lenders in The Banker’s Top 1000 World Banks ranking between 2011 and 2021, in comparison with other emerging markets in south-east Asia.
Back in 2011, Vietnam had just eight banks in the ranking. This has steadily increased to 16 banks in the 2021 ranking, on the back of robust gross domestic product growth in the country leading up to the Covid-19 pandemic.
The number of Malaysian banks in the ranking, meanwhile, has decreased by one over the decade, from 13 banks to 12, as political unrest in the country has hampered growth.
Thailand, which had a military coup d'état in 2014, has seen a similar decline, from 11 banks to 10.
The Philippines went from 10 banks in 2011 down to seven in 2012 and then up to 12 in 2015, but is back to 10 banks in the 2021 ranking.
Indonesia, meanwhile, has 10 banks in this year’s ranking, compared with nine banks in 2011.
Trends identified using The Banker Database, an online database providing comprehensive financial data and insight for 4000 of the world's leading banks in 190 countries. Contact us.
