Vietnam’s financial landscape is a dynamic mix of traditional structures and rapid modernization, fueled by strong economic growth and increasing global integration. The banking sector, dominated by state-owned commercial banks (SOCBs), plays a crucial role in channeling credit to businesses and consumers. However, these SOCBs are gradually undergoing reforms to improve efficiency, asset quality, and corporate governance, aligning them with international standards. Private commercial banks, both domestic and foreign-owned, are also gaining ground, contributing to greater competition and innovation within the sector.
