Friday, 21 January 2022

VietinBank’s SME business accounted for 34% of total bank assets

5 min read

By The Asian Banker

VietinBank’s SME business managed to lower its cost-to-income ratio (CIR) to 35% and has grown its gross revenues by 8%.

  • VietinBank had the lowest CIR at 35%
  • VietinBank’s SME business contributed to 27% of total revenue and accounted for 34% of total bank assets
  • The bank’s integrated digital initiatives helped shorten by 60% to 70% the processing time of SMEs’ credit appraisal lines

Singapore, 3 June 2021 - VietinBank was recognised as the Best SME Bank in Vietnam at The Asian Banker International Excellence in Retail Financial Services Awards 2021.

VietinBank bolstered its financial performance and corporate strategy in the SME market

The finalists for the Best SME Bank in Vietnam were VietinBank and TechcomBank. VietinBank’s integrated digital initiatives reduced by 60% to 70% the processing time of SMEs’ credit appraisal lines.

Financials: VietinBank had the lowest CIR at 35%

VietinBank managed to grow the revenue of its small and medium-sized enterprise (SME) business by 8% in 2020. It achieved a relatively lower cost-to-income ratio (CIR) at 35% and a higher return on asset (ROA) at 3.3%. Although Techcombank is slightly ahead due to its higher SME customer growth year-on-year (YoY), the bank has registered a higher CIR and its net income per SME account is only half of what VietinBank had.

VietinBank grew its SME accounts by 10% and achieved a 14% SME loans market share. Its digitally active accounts rose from 17% to 22% YoY. SME deposits showed an average growth rate of 42% per year from 2016 to 2020.

Organisation: VietinBank’s SME business accounted for 27% of total revenue and 34% of total bank assets

VietinBank’s SME banking unit is a stand-alone business which contributed to 27% of total bank revenue and accounted for 34% of total bank assets. Techcombank’s SME banking is also a stand-alone business unit, but its SME portfolio and revenue were only half the size of VietinBank.

VietinBank provided loans amounting to $3 billion to around 1.5% of bank clients who were affected by COVID-19. The bank also cooperated with VietinBank Insurance to implement a preferential programme on cargo insurance to bring revenues to the international payment and trade finance services.

Key achievements: VietinBank’s integrated digital initiatives reduced the processing time of SME credit appraisal

The bank launched VietinBank SME Club programme for its loyal members. This incentive programme includes standard packages like interest, fees, and prioritised transactions, as well as other benefits from VietinBank subsidiaries. VietinBank Securities provides discounts of up to 15% in corporate financial consulting services. The technology-driven SME initiative has created fast credit appraisal lines for SMEs. As a result, the processing time was reduced by 60% to 70%.

Le Duy Hai, director of corporate banking division at VietinBank, said, “In 2020, the VietinBank corporate banking division and SME segment achieved remarkable results as deposits and loan outstanding balance were maintained with high and sustainable growth rates. VietinBank has continuously improved and implemented a variety of programmes and products for our customers to overcome difficulties and challenges caused by the COVID-19 pandemic and natural disasters”.

About The Asian Banker International

The Asian Banker is the region’s most authoritative provider of strategic business intelligence to the financial services community. The Singapore-based company has offices in Singapore, Malaysia, Manila, Hong Kong, Beijing, and Dubai, as well as representatives in London, New York, and San Francisco. It has a business model that revolves around three core business lines: publications, research services and forums.

The company’s website is

You may visit the Excellence in Retail Financial Services page at

For further information on the collaterals for winning banks, please contact:

Mr. Mobasher Zein Kazmi
Head of Research
Tel: (+61) 452 514 145




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