Seventeen Vietnamese banks have been named among the 500 strongest banks in Asia Pacific, according to a report released by the Asian Banker magazine.

The Vietnamese banks in the list include Vietcombank; HSBC Bank (Vietnam); Vietinbank; Military Commercial Joint Stock Bank (MB); Bank for Investment and Development of Vietnam (BIDV); Tienphong Commercial Joint Stock Bank (TPBank); HCM City Development Joint Stock Commercial Bank (HDBank); Asia Commercial Joint Stock Bank (ACB); Vietnam Prosperity Joint Stock Commercial Bank (VPBank); Vietnam Maritime Commercial Joint Stock Bank (Maritime Bank); Vietnam International Commercial Joint Stock Bank (VIB); Saigon-Hanoi Commercial Joint Stock Bank (SHB); Vietnam Export Import Commercial Joint Stock Bank (Eximbank); Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) and Lien Viet Post Joint Stock Commercial Bank.

The ranking of Vietnamese banks announced by The Asian Banker

The Asia Pacific Banks’ Performance list is based on criteria such as the largest profits, largest growth in loans, highest growth in deposit, highest return on assets, highest return on equity, lowest cost to income ratio; highest non-interest income ratio, highest non-interest income ratio; the lowest gross NPL ratio and highest capital adequacy ratio.

Vietcombank was ranked first among these 17 Vietnamese banks and at the 62nd in the Asian pacific region. In 2016, Vietcombank also reported a pre-tax profit of VND8.2 trillion (USD390 million), up 23.4%.

Many major Vietnamese banks, including Vietinbank and BIDV, have reported higher profits in 2016.