Factors affecting the operational efficiency of vietnamese commercial banks

STATE BANK OF VIET NAM MINISTRY OF EDUCATION AND TRAINING BANKING UNIVERSITY HO CHI MINH CITY NGUYEN LY MINH THU FACTORS AFFECTING THE OPERATIONAL EFFICIENCY OF VIETNAMESE COMMERCIAL BANKS GRADUATION THESIS MAJOR: BANKING AND FINANCE CODE: 52340201 HO CHI MINH CITY, 2018 STATE BANK OF VIET NAM MINISTRY OF EDUCATION AND TRAINING BANKING UNIVERSITY HO CHI MINH CITY NGUYEN LY MINH THU FACTORS AFFECTING THE OPERATIONAL EFFICIENCY OF VIETNAMESE COMMERCIAL BANKS GRADUATION THESIS MAJOR: BANKING AND FINANCE CODE: 52340201 INSTRUCTOR NGUYEN MINH SANG HO CHI MINH CITY, 2018 ABSTRACT There are many concerns of banking sector in Vietnam, while the effect of competition and concentration on the efficiency has not been investigated well enough so far in the literature The current study contributes to the empirical literature by testing the impact of competition and concentration in Vietnam banking sector Using the TOBIT estimator technique, this study analyzes the efficiency of 23 commercial banks in Vietnam over the period of 2008 - 2017 The author‟s efficiency factors include: Loan on Total Assets, Loan on Total Deposit, Cost Income Ratio, Deposit on Total Assets, Equity Ratio and Bank Size These factors allow the author gain insights into what extent identified factors influencing the efficiency of commercial banks in Vietnam Furthermore, it is found that Vietnam commercial banks‟ efficiency is affected by Loan on Total Assets, Loan on Total Deposit, Cost Income Ratio and Deposit on Total Assets i DECLARATION OF AUTHENTICITY I hereby confirm that this is my own research that I have compiled in my own words under the guidance of instructor Dr Nguyen Minh Sang With my signature I confirm that all data and reviews of other authors and other agencies for analysis collected from different sources are documented and referenced in the references Signature of the author Nguyen Ly Minh Thu ii ACKNOWLEDEGMENTS First of all, I would like to send my most sincere thanks and respect to Mr Nguyen Minh Sang for his sharing, understandings and supports so that I can complete this study Secondly, I would like to thank the efforts of my parents for nurturing encouraging me to grown up every day to discover the world as I am today Finally, best regards to my lecturers, my friends, my classmates and my beloved Banking University HCMC for their sharing and supports during my time at the university Ho Chi Minh City, 24 December, 2018 Nguyen Ly Minh Thu iii TABLE OF CONTENTS ABSTRACT i DECLARATION OF AUTHENTICITY ii ACKNOWLEDEGMENTS iii TABLE OF CONTENTS iv LIST OF ABBREVIATIONS vii LIST OF TABLES viii LIST OF FIGURESError! Bookmark not defined ix LIST OF PICTURE ix LIST OF APPENDIX ix CHAPTER 1: INTRODUCTION 1.1 Research Background 1.2 Objective of the study 1.3 Questions of the study 1.4 The subject and scopes of the study 1.4.1 Subject of the study 1.4.2 Scope of the study 1.5 The research methods 1.6 Contributions of research 1.7 Structure of the study iv CHAPTER 2: LITERATURE REVIEW 2.1 Overview of commercial banks 2.1.1 Commercial Banks 2.1.2 Concepts and characteristics of business of commercial banks 16 2.2 The operational efficiency and factors affecting the operational efficiency of commercial banks 19 2.2.1 Operational efficiency of commercial banks 19 2.2.2 Factors affecting the operational efficiency of commercial banks 22 2.3 Methods to assess the performance of commercial banks 25 2.3.1 Traditional method 25 2.3.2 Marginal effect analysis method 29 2.4 Censored regression model 30 2.5 The previous empirical studies 31 CHAPTER 3: EMPIRICAL MODEL 35 3.1 Model of research 35 3.2 Research Method 37 3.3 Research data 37 CHAPTER 4: FACTORS AFFECTING THE OPERATIONAL EFFICIENCY OF VIETNAMESE COMMERCIAL BANKS 40 4.1 Status of operation of commercial bank system in Vietnam 40 4.1.1 Overview of commercial banks system in Vietnam 40 v 4.1.2 Status of business activities of commercial banks 47 4.2 Measure the effectiveness and factors affecting the performance of commercial banks in Vietnam 48 4.2.1 Descriptive Statistic 48 4.2.2 Correlation Test 56 4.2.3 Regression analysis 56 4.2.4 Regression of ROA 57 4.2.5 Regression of ROE 59 4.3 Discussion 60 CHAPTER 5: CONCLUSIONS AND RECOMMENDATIONS 65 5.1 Conclusion 65 5.2 Recommendations 66 5.2.1 Recommendations for Government and State Bank 66 5.2.2 Recommendations for Commercial banks 68 5.3 Limitations 70 5.4 Future studies 70 REFERENCES 72 vi LIST OF ABBREVIATIONS Acronyms Meaning of acronym AFAS ASEAN Framework Agreement on Trade in Services CIR Cost Income Ratio DTA Deposit to Total Assets ETA Equity to Total Assets FEM Fixed Effects Mode JSBs Commercial Joint Stock Bank LTA Total Loans to Total Assets LTD Total Loans to Total Deposit NII Net Interest Income NIM Net Interest Margin NPL Non-performing Loan REM Random Effects Model ROA Return on Assets ROE Return on Equity SOBs State-Owned Bank WTO World Trade Organization vii LIST OF TABLES Table 3.1 Variables used in the model 36 Table 3.2 Vietnamese commercial banks are assessed for performance 38 Table 4.1 Assets and capital of credit institution in 2016 46 Table 4.2 Operational indicators of commercial bank 47 Table 4.3 Descriptive statistic result 48 Table 4.4 Results of correlation test 56 Table 4.5 Results of Hausman test for both ROA and ROE model 57 Table 4.6 Regression model of ROA 57 Table 4.7 Regression model of ROE 59 Table 4.8 Summary of research‟s results 60 Table 4.9 Overall results of regression model 63 viii REFERENCES Vietnamese documents Nguyễn Minh Kiều (2012), Giáo trình Nghiệp vụ ngân hàng thương mại, nhà xuất Tài Chính Nguyễn Minh 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4624462 lta | 230 5112534 1586086 0046616 8516832 lnta | 230 18.21809 1.195862 14.89359 20.90749 -+ ltd | 230 7104232 2013139 1931331 1.423927 cir | 230 8515195 1966564 013187 1.218747 dta | 230 7178992 1491465 0231493 9138935 corre roa roe eta lta lnta ltd cir dta (obs=230) | roa roe eta lta lnta ltd cir dta -+ -roa | 1.0000 roe | 0.6081 1.0000 eta | 0.4121 0.0042 1.0000 lta | 0.0669 0.0920 0.1978 1.0000 lnta | -0.1887 0.0267 -0.7021 0.0153 1.0000 ltd | 0.1783 0.1315 0.2158 0.8247 0.0603 1.0000 cir | -0.3583 -0.1647 -0.1792 -0.0402 -0.0348 -0.0890 1.0000 dta | -0.0611 0.0855 0.0832 0.5590 -0.0826 0.0415 0.0646 1.0000 xtreg roa eta lta lnta ltd cir dta,fe Fixed-effects (within) regression Group variable: bank R-sq: within = 0.7393 between = 0.0614 overall = 0.1645 Number of obs = Number of groups = Obs per group: = avg = max = F(6,201) corr(u_i, Xb) = -0.8871 = 94.98 Prob > F = 230 23 10 10.0 10 0.0000 -roa | Coef Std Err t P>|t| [95% Conf Interval] -+ -eta | 0382423 0085566 4.47 0.000 0213701 0551145 lta | -.0436852 0095581 -4.57 0.000 -.0625322 -.0248382 lnta | 0010007 0005813 1.72 0.087 -.0001455 0021469 ltd | 0260455 0061312 4.25 0.000 0139557 0381353 cir | -.077314 0039336 -19.65 0.000 -.0850704 -.0695575 dta | 02375 0070861 3.35 0.001 0097773 0377226 _cons | 0392718 0116218 3.38 0.001 0163555 0621881 -+ -sigma_u | 01431471 sigma_e | 00393194 rho | 92984503 (fraction of variance due to u_i) -F test that all u_i=0: F(22, 201) = 22.14 Prob > F = 0.0000 est store fe xtreg roa eta lta lnta ltd cir dta,re 76 Random-effects GLS regression Group variable: bank R-sq: within = 0.6629 between = 0.0793 overall = 0.2247 corr(u_i, X) = (assumed) Number of obs = 230 Number of groups = 23 Obs per group: = avg = max = 10 10.0 10 Wald chi2(6) = 209.66 Prob > chi2 = 0.0000 -roa | Coef Std Err z P>|z| [95% Conf Interval] -+ -eta | 0353743 0110957 3.19 0.001 0136271 0571214 lta | -.0476383 0124234 -3.83 0.000 -.0719877 -.023289 lnta | -.0004435 0006548 -0.68 0.498 -.0017269 0008398 ltd | 0302956 0079957 3.79 0.000 0146242 0459669 cir | -.0387073 0036459 -10.62 0.000 -.0458531 -.0315616 dta | 0227794 0085468 2.67 0.008 006028 0395307 _cons | 0326887 0139902 2.34 0.019 0052685 0601089 -+ -sigma_u | 00300105 sigma_e | 00393194 rho | 36810798 (fraction of variance due to u_i) - est store re xtreg roe eta lta lnta ltd cir dta,fe Fixed-effects (within) regression Group variable: bank R-sq: within = 0.3032 between = 0.0831 overall = 0.0671 Number of obs = Number of groups = Obs per group: = avg = max = F(6,201) corr(u_i, Xb) = -0.9102 = 14.58 Prob > F = 230 23 10 10.0 10 0.0000 -roe | Coef Std Err t P>|t| [95% Conf Interval] -+ -eta | -.9044223 7986459 -1.13 0.259 -2.479221 6703769 lta | -4.117105 8921243 -4.61 0.000 -5.876229 -2.357982 lnta | 0412873 0542554 0.76 0.448 -.0656955 1482702 ltd | 2.907401 5722713 5.08 0.000 1.778975 4.035826 cir | -2.770084 3671513 -7.54 0.000 -3.494046 -2.046122 dta | 3.163934 6613969 4.78 0.000 1.859768 4.4681 _cons | -4498595 1.084744 -0.41 0.679 -2.588798 1.689079 -+ -sigma_u | 51942258 sigma_e | 36699526 rho | 66702001 (fraction of variance due to u_i) -F test that all u_i=0: F(22, 201) = 2.49 Prob > F = 0.0005 est store fe xtreg roe eta lta lnta ltd cir dta,re Random-effects GLS regression Group variable: bank Number of obs = 230 Number of groups = 23 77 R-sq: within = 0.1698 between = 0.3185 overall = 0.1374 corr(u_i, X) = (assumed) Obs per group: = avg = max = 10 10.0 10 Wald chi2(6) = 35.53 Prob > chi2 = 0.0000 -roe | Coef Std Err z P>|z| [95% Conf Interval] -+ -eta | -1.025403 7063191 -1.45 0.147 -2.409763 3589568 lta | -3.649747 7845385 -4.65 0.000 -5.187414 -2.11208 lnta | -.0230711 0328868 -0.70 0.483 -.0875281 0413859 ltd | 2.609734 5190872 5.03 0.000 1.592342 3.627126 cir | -.4027397 1384062 -2.91 0.004 -.6740109 -.1314685 dta | 2.315032 4737965 4.89 0.000 1.386408 3.243656 _cons | -.6993838 7190185 -0.97 0.331 -2.108634 7098666 -+ -sigma_u | sigma_e | 36699526 rho | (fraction of variance due to u_i) - est store re hausman fe re Coefficients -| (b) (B) (b-B) sqrt(diag(V_b-V_B)) | fe re Difference S.E -+ -eta | -.9044223 -1.025403 120981 3727581 lta | -4.117105 -3.649747 -.4673585 4247177 lnta | 0412873 -.0230711 0643585 0431522 ltd | 2.907401 2.609734 2976667 2409209 cir | -2.770084 -.4027397 -2.367344 3400644 dta | 3.163934 2.315032 8489016 4614788 -b = consistent under Ho and Ha; obtained from xtreg B = inconsistent under Ha, efficient under Ho; obtained from xtreg Test: Ho: difference in coefficients not systematic chi2(6) = (b-B)'[(V_b-V_B)^(-1)](b-B) = 49.65 Prob>chi2 = 0.0000 (V_b-V_B is not positive definite) xttobit roa eta lta lnta ltd cir dta Obtaining starting values for full model: Iteration 0: Iteration 1: Iteration 2: Iteration 3: Iteration 4: Iteration 5: log likelihood = log likelihood = log likelihood = log likelihood = log likelihood = log likelihood = 832.33387 870.11906 888.47138 895.09833 895.60027 895.60583 Fitting full model: Iteration 0: log likelihood = 895.60583 Iteration 1: log likelihood = 895.60583 Random-effects tobit regression Number of obs = 78 230 Group variable: bank Number of groups = Random effects u_i ~ Gaussian Obs per group: = 10 avg = 10.0 max = 10 Integration method: mvaghermite Log likelihood = 895.60583 Integration pts = Wald chi2(6) = 509.72 Prob > chi2 = 23 12 0.0000 -roa | Coef Std Err z P>|z| [95% Conf Interval] -+ -eta | 0373836 0084342 4.43 0.000 020853 0539143 lta | -.0441986 0094242 -4.69 0.000 -.0626697 -.0257275 lnta | 0007484 0005704 1.31 0.189 -.0003695 0018664 ltd | 0265126 0060461 4.39 0.000 0146626 0383627 cir | -.0725332 0040407 -17.95 0.000 -.0804528 -.0646135 dta | 0236064 0069413 3.40 0.001 0100016 0372112 _cons | 0399149 0117113 3.41 0.001 0169612 0628685 -+ -/sigma_u | 0130626 0020784 6.28 0.000 008989 0171361 /sigma_e | 003889 0001927 20.19 0.000 0035114 0042666 -+ -rho | 9185797 0252592 8570071 9576635 -0 left-censored observations 230 uncensored observations right-censored observations xttobit roe eta lta lnta ltd cir dta Obtaining starting values for full model: Iteration 0: log likelihood = -108.0491 Iteration 1: log likelihood = -107.99482 Iteration 2: log likelihood = -107.99473 Fitting full model: Iteration 0: log likelihood = -107.99473 Iteration 1: log likelihood = -107.99473 Random-effects tobit regression Group variable: bank Number of obs = Number of groups = Random effects u_i ~ Gaussian Obs per group: = 10 avg = 10.0 max = 10 Integration method: mvaghermite Log likelihood = -107.99473 Integration pts = Wald chi2(6) = 36.65 Prob > chi2 = 230 23 12 0.0000 -roe | Coef Std Err z P>|z| [95% Conf Interval] -+ -eta | -1.025403 6954877 -1.47 0.140 -2.388534 3377276 lta | -3.649747 7725076 -4.72 0.000 -5.163834 -2.13566 lnta | -.0230711 0323825 -0.71 0.476 -.0865397 0403974 ltd | 2.609734 5111271 5.11 0.000 1.607943 3.611525 cir | -.4027397 1362838 -2.96 0.003 -.6698509 -.1356284 79 dta | 2.315032 4665308 4.96 0.000 1.400649 3.229416 _cons | -.6993838 7079924 -0.99 0.323 -2.087023 6882558 -+ -/sigma_u | 9.56e-19 0347412 0.00 1.000 -.0680914 0680914 /sigma_e | 3869746 0180428 21.45 0.000 3516114 4223378 -+ -rho | 6.10e-36 4.44e-19 -0 left-censored observations 230 uncensored observations right-censored observations 80 APPENDIX 2: Data for ROA and ROE model BANK YEAR CODE 2008 ABB 2009 ABB 2010 ABB 2011 ABB 2012 ABB 2013 ABB 2014 ABB 2015 ABB 2016 ABB 2017 ABB 2008 ACB 2009 ACB 2010 ACB 2011 ACB 2012 ACB 2013 ACB 2014 ACB 2015 ACB 2016 ACB 2017 ACB 2008 BID 2009 BID 2010 BID 2011 BID 2012 BID 2013 BID 2014 BID 2015 BID 2016 BID 2017 BID 2008 CTG 23 2009 CTG 23 2010 CTG 23 2011 CTG 23 2012 CTG 23 2013 CTG 23 2014 CTG 23 2015 CTG 23 2016 CTG 23 2017 CTG 23 2008 EIB ROA 0.004 0.012 0.013 0.007 0.009 0.002 0.002 0.001 0.003 0.006 0.021 0.013 0.011 0.011 0.004 0.005 0.005 0.005 0.006 0.007 0.008 0.01 0.01 0.008 0.007 0.007 0.008 0.007 0.006 0.006 0.009 0.011 0.009 0.014 0.012 0.01 0.009 0.007 0.007 0.007 0.015 ROE 0.013 0.069 0.107 0.065 0.081 0.024 0.02 0.016 0.042 0.08 0.285 0.218 0.205 0.268 0.062 0.066 0.077 0.08 0.094 0.132 0.148 0.16 0.155 0.131 0.124 0.126 0.15 0.156 0.147 0.151 0.146 0.205 0.188 0.22 0.183 0.107 0.104 0.102 0.109 0.118 0.055 ETA 0.293 0.169 0.122 0.114 0.106 0.1 0.085 0.09 0.079 0.072 0.074 0.06 0.055 0.043 0.072 0.075 0.069 0.063 0.06 0.056 0.055 0.06 0.066 0.06 0.055 0.058 0.051 0.048 0.042 0.038 0.064 0.052 0.049 0.062 0.067 0.094 0.083 0.072 0.066 0.058 0.266 81 LTA Ln(TA) 0.485 16.418 0.486 17.093 0.523 17.454 0.479 17.542 0.408 17.644 0.41 17.87 0.385 18.027 0.48 17.98 0.537 18.122 0.567 18.252 0.331 18.472 0.371 18.939 0.425 19.139 0.366 19.454 0.583 18.988 0.643 18.931 0.648 19.006 0.672 19.121 0.699 19.269 0.698 19.466 0.653 19.323 0.696 19.507 0.694 19.719 0.724 19.821 0.701 19.999 0.713 20.122 0.685 20.293 0.703 20.562 0.719 20.73 0.721 20.907 0.624 19.081 0.669 19.312 0.637 19.723 0.637 19.948 0.662 20.037 0.653 20.172 0.665 20.31 0.69 20.474 0.698 20.671 0.722 20.814 0.44 17.692 LTD 0.7485 0.6141 0.6652 0.6726 0.5765 0.6361 0.5364 0.6366 0.6925 0.7213 0.47 0.6404 0.6456 0.5811 0.7642 0.7446 0.7369 0.7646 0.7826 0.783 0.9768 1.0983 1.0332 1.2162 1.0926 1.1181 0.9715 1.021 0.9531 0.9773 0.9769 1.0316 1.009 0.9305 1.0785 0.9494 0.9435 1.0032 0.9514 0.9625 0.6575 CIR 0.969 0.791 0.809 0.91 0.885 0.971 0.989 1.017 0.995 0.775 0.836 0.831 0.826 0.844 0.875 0.96 0.953 0.871 0.875 0.922 0.902 0.89 0.86 0.911 0.926 0.923 0.899 0.865 0.912 0.919 0.909 0.846 0.865 0.856 0.866 0.847 0.855 0.855 0.871 0.888 0.047 DTA 0.647 0.791 0.786 0.713 0.707 0.645 0.718 0.754 0.775 0.786 0.704 0.58 0.659 0.63 0.763 0.864 0.879 0.879 0.893 0.892 0.669 0.634 0.672 0.596 0.642 0.638 0.705 0.689 0.754 0.738 0.638 0.649 0.631 0.685 0.614 0.688 0.705 0.688 0.733 0.75 0.669 4 4 4 4 5 5 5 5 5 6 6 6 6 6 7 7 7 7 7 9 9 2009 2010 2011 2012 2013 2014 2015 2016 2017 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2008 2009 2010 2011 2012 EIB EIB EIB EIB EIB EIB EIB EIB EIB HDB HDB HDB HDB HDB HDB HDB HDB HDB HDB KLB KLB KLB KLB KLB KLB KLB KLB KLB KLB LPB LPB LPB LPB LPB LPB LPB LPB LPB LPB MBB MBB MBB MBB MBB 0.017 0.014 0.017 0.013 0.004 3E04 3E04 0.002 0.006 0.006 0.01 0.008 0.009 0.006 0.003 0.005 0.006 0.006 0.01 0.013 0.012 0.016 0.022 0.019 0.015 0.008 0.007 0.004 0.005 0.06 0.031 0.02 0.017 0.013 0.007 0.005 0.003 0.007 0.008 0.016 0.017 0.016 0.014 0.013 0.085 0.134 0.186 0.135 0.045 0.004 0.003 0.023 0.058 0.036 0.108 0.114 0.12 0.061 0.025 0.054 0.067 0.098 0.139 0.036 0.082 0.061 0.114 0.102 0.09 0.052 0.049 0.036 0.057 0.129 0.141 0.166 0.148 0.117 0.078 0.063 0.046 0.128 0.146 0.157 0.17 0.196 0.199 0.18 0.204 0.103 0.089 0.093 0.086 0.087 0.105 0.104 0.095 0.175 0.094 0.069 0.079 0.102 0.1 0.089 0.088 0.062 0.074 0.356 0.149 0.256 0.194 0.185 0.163 0.146 0.133 0.11 0.095 0.462 0.22 0.117 0.117 0.111 0.091 0.073 0.071 0.059 0.057 0.1 0.1 0.081 0.069 0.073 82 0.586 0.476 0.407 0.44 0.491 0.541 0.679 0.675 0.678 0.646 0.43 0.341 0.308 0.401 0.511 0.422 0.531 0.547 0.552 0.747 0.652 0.557 0.471 0.521 0.567 0.585 0.64 0.649 0.661 0.324 0.312 0.281 0.227 0.346 0.371 0.41 0.522 0.562 0.616 0.355 0.429 0.445 0.425 0.424 17.997 18.692 19.028 18.952 18.95 18.897 18.643 18.674 18.822 16.073 16.767 17.353 17.623 17.782 18.272 18.416 18.484 18.828 19.059 14.894 15.828 16.347 16.697 16.738 16.878 16.956 17.047 17.232 17.435 15.824 16.67 17.37 17.843 18.011 18.192 18.429 18.494 18.77 18.912 17.608 18.05 18.513 18.749 18.984 0.9425 0.6964 0.6256 0.7273 0.7246 0.6656 0.8031 0.8085 0.8091 1.4239 0.5609 0.5522 0.45 0.5595 0.6487 0.5602 0.7291 0.7032 0.787 1.2275 0.7841 0.8776 0.6512 0.7365 0.8285 0.7376 0.7771 0.7632 0.7483 0.6353 0.5821 0.4313 0.2995 0.4554 0.4245 0.4674 0.6643 0.6699 0.7199 0.5795 0.7401 0.7423 0.6594 0.5024 0.018 0.014 0.016 0.013 0.02 0.025 0.019 0.029 0.023 0.947 0.874 0.863 0.871 0.974 1.104 0.996 0.919 0.94 0.886 0.878 0.785 0.772 0.776 0.822 0.818 0.89 0.901 0.967 0.916 0.479 0.713 0.727 0.809 0.852 0.893 0.955 0.94 0.842 0.883 0.725 0.732 0.74 0.77 0.826 0.622 0.683 0.65 0.605 0.677 0.813 0.845 0.835 0.838 0.454 0.767 0.618 0.683 0.716 0.787 0.753 0.728 0.778 0.701 0.609 0.831 0.635 0.723 0.708 0.685 0.794 0.824 0.851 0.884 0.51 0.536 0.652 0.759 0.76 0.875 0.876 0.786 0.838 0.855 0.613 0.579 0.6 0.645 0.844 9 9 8 8 8 8 8 10 10 10 10 10 10 10 10 10 10 11 11 11 11 2013 2014 2015 2016 2017 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2008 2009 2010 2011 MBB MBB MBB MBB MBB MSB MSB MSB MSB MSB MSB MSB MSB MSB MSB NAB NAB NAB NAB NAB NAB NAB NAB NAB NAB NCB NCB NCB NCB 0.013 0.012 0.011 0.011 0.011 0.01 0.012 0.01 0.007 0.002 0.003 0.001 0.001 0.002 0.001 0.002 0.005 0.01 0.013 0.011 0.005 0.005 0.005 8E04 0.004 0.005 0.008 0.008 0.007 0.151 0.151 0.111 0.114 0.118 0.169 0.218 0.183 0.084 0.025 0.035 0.015 0.009 0.01 0.009 0.008 0.042 0.064 0.076 0.055 0.041 0.056 0.057 0.01 0.065 0.053 0.122 0.078 0.052 0.084 0.083 0.102 0.099 0.094 0.057 0.056 0.055 0.083 0.083 0.088 0.091 0.131 0.147 0.122 0.219 0.122 0.15 0.167 0.205 0.113 0.089 0.096 0.08 0.067 0.099 0.062 0.101 0.143 0.486 0.502 0.549 0.588 0.587 0.344 0.374 0.276 0.33 0.263 0.256 0.225 0.269 0.379 0.323 0.637 0.458 0.365 0.368 0.428 0.402 0.446 0.588 0.561 0.668 0.502 0.533 0.538 0.574 19.011 19.116 19.214 19.362 19.565 17.301 17.973 18.563 18.555 18.515 18.489 18.463 18.463 18.344 18.536 15.589 16.208 16.49 16.754 16.589 17.175 17.434 17.384 17.573 17.813 16.205 16.743 16.812 16.929 0.5999 0.5966 0.6558 0.7738 0.7184 0.3904 0.4632 0.3895 0.4568 0.3749 0.3705 0.3347 0.4201 0.573 0.5195 0.8383 0.6361 0.5479 0.5786 0.733 0.6286 0.5527 0.6748 0.6311 0.7793 0.5809 0.6723 0.6717 0.7058 0.808 0.815 0.814 0.807 0.824 0.831 0.799 0.856 0.932 0.995 1.03 1.043 1.029 1.058 1.138 1.007 0.885 0.914 0.867 0.928 0.961 0.909 0.915 1.01 0.97 0.927 0.872 0.882 0.884 0.811 0.841 0.837 0.76 0.817 0.88 0.807 0.709 0.723 0.702 0.691 0.673 0.641 0.662 0.621 0.759 0.72 0.667 0.635 0.584 0.639 0.807 0.872 0.889 0.857 0.864 0.793 0.801 0.813 11 11 11 11 11 11 12 12 12 12 12 12 12 12 12 2012 2013 2014 2015 2016 2017 2008 2009 2010 2011 2012 2013 2014 2015 2016 NCB NCB NCB NCB NCB NCB OCB OCB OCB OCB OCB OCB OCB OCB OCB 1E04 6E04 2E04 1E04 2E04 3E04 0.006 0.016 0.015 0.012 0.008 0.007 0.006 0.004 0.006 7E04 0.006 0.003 0.002 0.004 0.007 0.041 0.088 0.097 0.081 0.06 0.061 0.055 0.05 0.082 0.148 0.11 0.087 0.067 0.047 0.045 0.158 0.184 0.159 0.148 0.139 0.121 0.103 0.085 0.074 0.597 0.463 0.452 0.424 0.367 0.447 0.852 0.805 0.588 0.545 0.629 0.615 0.549 0.56 0.603 16.888 17.185 17.422 17.691 18.05 18.09 16.128 16.356 16.796 17.051 17.127 17.306 17.482 17.716 17.972 1.0498 0.6022 0.5777 0.4839 0.436 0.5673 1.045 1.1253 0.8882 0.84 1.0346 0.766 0.7046 0.6944 0.7871 0.99 0.994 1.025 0.999 0.987 1.011 0.932 0.809 0.777 0.848 0.861 0.834 0.92 0.938 0.888 0.569 0.77 0.782 0.875 0.842 0.788 0.815 0.716 0.662 0.648 0.608 0.803 0.779 0.807 0.767 83 12 13 13 13 13 13 13 13 13 13 13 15 15 15 15 15 15 15 15 15 15 16 16 16 16 16 16 16 16 16 16 17 17 17 17 17 17 17 17 17 17 18 18 18 2017 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2008 2009 2010 OCB PGB PGB PGB PGB PGB PGB PGB PGB PGB PGB SCB SCB SCB SCB SCB SCB SCB SCB SCB SCB SEA SEA SEA SEA SEA SEA SEA SEA SEA SEA SGB SGB SGB SGB SGB SGB SGB SGB SGB SGB SHB SHB SHB 0.01 0.011 0.017 0.013 0.025 0.012 0.002 0.005 0.002 0.005 0.002 0.012 0.006 0.005 0.005 4E04 2E04 4E04 3E04 2E04 3E04 0.008 0.015 0.011 0.001 7E04 0.002 0.001 0.001 0.001 0.002 0.014 0.018 0.048 0.02 0.02 0.012 0.011 0.002 0.007 0.003 0.014 0.012 0.01 0.133 0.064 0.16 0.101 0.172 0.075 0.012 0.039 0.012 0.035 0.018 0.165 0.07 0.059 0.064 0.006 0.003 0.007 0.005 0.005 0.009 0.041 0.084 0.11 0.023 0.009 0.026 0.015 0.016 0.02 0.049 0.11 0.109 0.226 0.092 0.084 0.049 0.052 0.013 0.04 0.016 0.086 0.132 0.118 0.073 0.166 0.105 0.133 0.147 0.166 0.129 0.13 0.137 0.141 0.122 0.073 0.082 0.078 0.078 0.076 0.072 0.054 0.049 0.042 0.032 0.186 0.179 0.104 0.055 0.074 0.072 0.071 0.068 0.057 0.049 0.131 0.163 0.21 0.215 0.238 0.238 0.22 0.191 0.185 0.16 0.158 0.088 0.082 84 0.572 0.382 0.602 0.665 0.689 0.716 0.557 0.563 0.644 0.706 0.731 0.603 0.575 0.551 0.456 0.591 0.492 0.553 0.547 0.614 0.6 0.338 0.315 0.371 0.194 0.222 0.262 0.4 0.505 0.571 0.564 0.706 0.819 0.623 0.728 0.731 0.727 0.71 0.654 0.658 0.662 0.435 0.467 0.478 18.25 15.638 16.159 16.611 16.682 16.773 17.029 17.065 17.022 17.027 17.193 17.469 17.814 17.913 18.791 18.821 19.014 19.305 19.557 19.706 19.911 16.928 17.236 17.827 18.432 18.134 18.196 18.2 18.255 18.454 18.644 16.232 16.29 16.636 16.548 16.514 16.502 16.577 16.692 16.762 16.875 16.481 17.129 17.748 0.7546 0.4843 0.7072 0.7813 0.848 1.1179 0.6612 0.6719 0.7622 0.834 0.848 0.7571 0.7702 0.7427 0.7387 0.9322 0.5495 0.6444 0.6419 0.7228 0.7184 0.4534 0.3906 0.5169 0.2406 0.2842 0.4588 0.5281 0.6325 0.6934 0.7142 0.874 1.0844 0.9069 1.0575 0.9945 0.9858 0.9469 0.8273 0.8247 0.8008 0.5325 0.5212 0.6265 0.847 0.949 0.824 0.839 0.795 0.901 1.024 0.92 0.993 0.923 0.981 0.863 0.946 0.927 0.945 0.934 1.022 1.03 1.002 1.006 1.016 0.827 0.732 0.804 0.965 0.99 0.964 1.05 0.969 0.98 0.97 0.862 0.789 0.614 0.848 0.831 0.874 0.864 0.978 0.896 0.968 0.84 0.838 0.863 0.757 0.79 0.851 0.851 0.812 0.641 0.843 0.838 0.844 0.847 0.862 0.797 0.746 0.742 0.618 0.634 0.895 0.859 0.853 0.85 0.835 0.744 0.805 0.718 0.807 0.783 0.571 0.757 0.798 0.823 0.79 0.808 0.755 0.687 0.688 0.735 0.737 0.75 0.791 0.798 0.826 0.817 0.896 0.762 18 18 18 18 18 18 18 19 19 19 19 19 19 19 19 19 19 20 20 20 20 20 20 20 20 20 20 21 21 21 21 21 21 21 21 21 21 22 22 22 22 22 22 22 2011 2012 2013 2014 2015 2016 2017 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2008 2009 2010 2011 2012 2013 2014 SHB SHB SHB SHB SHB SHB SHB TCB TCB TCB TCB TCB TCB TCB TCB TCB TCB TPB TPB TPB TPB TPB TPB TPB TPB TPB TPB VCB VCB VCB VCB VCB VCB VCB VCB VCB VCB VIB VIB VIB VIB VIB VIB VIB 0.011 0.014 0.006 0.005 0.004 0.004 0.005 0.02 0.018 0.014 0.017 0.004 0.004 0.006 0.008 0.013 0.024 0.021 0.012 0.008 -0.06 0.008 0.012 0.01 0.007 0.005 0.008 0.012 0.015 0.014 0.012 0.011 0.009 0.008 0.008 0.009 0.009 0.005 0.008 0.008 0.007 0.008 7E04 0.006 0.129 0.177 0.082 0.075 0.071 0.071 0.105 0.21 0.232 0.221 0.252 0.058 0.047 0.072 0.093 0.161 0.659 1.209 0.675 0.364 -5.95 0.417 0.51 0.432 0.295 0.221 0.313 0.193 0.236 0.205 0.147 0.106 0.103 0.106 0.118 0.139 0.251 0.074 0.156 0.12 0.078 0.062 0.006 0.061 0.082 0.082 0.072 0.062 0.055 0.057 0.095 0.079 0.062 0.069 0.074 0.088 0.085 0.086 0.083 0.036 0.017 0.018 0.021 0.009 0.018 0.023 0.024 0.025 0.024 0.025 0.063 0.065 0.067 0.078 0.1 0.09 0.075 0.067 0.062 0.035 0.066 0.052 0.07 0.084 0.129 0.104 0.105 85 0.411 0.489 0.533 0.616 0.642 0.692 0.693 0.446 0.455 0.352 0.351 0.379 0.442 0.457 0.581 0.606 0.597 0.005 0.034 0.035 0.02 0.034 0.075 0.113 0.147 0.198 0.235 0.508 0.554 0.575 0.571 0.582 0.585 0.56 0.575 0.585 0.525 0.57 0.483 0.445 0.449 0.521 0.458 0.473 18.078 18.574 18.783 18.946 19.137 19.274 19.472 17.895 18.344 18.828 19.011 19.008 18.884 18.985 19.073 19.277 19.412 17.895 18.344 18.828 19.011 19.008 18.884 18.985 19.073 19.277 19.412 19.219 19.359 19.544 19.72 19.843 19.966 20.173 20.329 20.485 20.758 17.363 17.852 18.357 18.39 17.99 18.158 18.206 0.5752 0.6116 0.7434 0.7192 0.759 0.8528 0.869 0.551 0.6009 0.5151 0.5003 0.5401 0.5643 0.5755 0.7426 0.7563 0.8367 0.2014 0.4 0.3539 0.1931 0.6537 0.5676 0.5867 0.4827 0.5844 0.6468 0.6322 0.7044 0.6835 0.8385 0.7976 0.7548 0.7092 0.7021 0.7159 0.711 0.6232 0.5783 0.6266 0.6138 0.794 0.702 0.6623 0.88 0.852 0.9 0.914 0.915 0.933 0.907 0.882 0.786 0.787 0.794 0.931 0.952 0.922 0.875 0.842 0.734 0.656 0.819 0.862 1.219 0.936 0.83 0.796 0.837 0.887 0.873 0.845 0.785 0.805 0.878 0.886 0.873 0.877 0.868 0.859 0.837 0.945 0.896 0.87 0.93 0.926 1.033 0.906 0.714 0.799 0.717 0.856 0.846 0.811 0.798 0.809 0.757 0.684 0.703 0.702 0.784 0.793 0.783 0.801 0.714 0.023 0.086 0.098 0.105 0.052 0.132 0.192 0.305 0.339 0.364 0.803 0.787 0.841 0.681 0.729 0.775 0.79 0.819 0.817 0.738 0.914 0.835 0.71 0.731 0.656 0.653 0.715 22 22 22 24 24 24 24 24 24 24 24 24 24 2015 2016 2017 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 VIB VIB VIB VPB VPB VPB VPB VPB VPB VPB VPB VPB VPB 0.006 0.005 0.009 0.008 0.011 0.008 0.01 0.006 0.008 0.008 0.012 0.017 0.023 0.061 0.064 0.128 0.061 0.115 0.097 0.133 0.097 0.132 0.14 0.179 0.229 0.375 0.102 0.084 0.071 0.126 0.093 0.087 0.072 0.065 0.064 0.055 0.069 0.075 0.062 86 0.567 0.576 0.648 0.696 0.574 0.423 0.352 0.36 0.433 0.48 0.602 0.632 0.658 18.25 18.465 18.629 16.741 17.131 17.907 18.232 18.446 18.613 18.911 19.083 19.248 19.442 0.7972 0.7849 0.9325 0.8374 0.9579 0.9021 0.5306 0.4917 0.5708 0.637 0.8351 1.0543 1.3311 0.895 0.913 0.712 0.922 0.833 0.83 0.901 0.904 0.912 0.909 0.846 0.818 0.809 0.711 0.733 0.695 0.832 0.599 0.469 0.664 0.732 0.758 0.754 0.721 0.6 0.494 ... characteristics of business of commercial banks 16 2.2 The operational efficiency and factors affecting the operational efficiency of commercial banks 19 2.2.1 Operational efficiency of commercial. .. extent the identified factors influence the operational efficiency of commercial banks in Vietnam? 1.4 The subject and scopes of the study 1.4.1 Subject of the study Subject of the study is the. .. CHAPTER 4: FACTORS AFFECTING THE OPERATIONAL EFFICIENCY OF VIETNAMESE COMMERCIAL BANKS 40 4.1 Status of operation of commercial bank system in Vietnam 40 4.1.1 Overview of commercial banks