According to a report released by the State Bank of Vietnam, December 2015 saw the highest rise of total assets in the year of the banking system. The assets in December alone surged sharply by VND298.29 trillion, accounting for more than 37% of the rise in the whole year.

Assets of State-owned banks increased 16.57% to VND3,304 trillion. State-owned banks where the government holds majority stakes include Agribank, Vietcombank, VietinBank, and Bank for Investment and Development of Vietnam (BIDV), in addition to Vietnam Construction Bank, GPBank and OceanBank.

Assets of joint stock commercial banks also rose 8.93% to VND2,928 trillion while those of joint ventures, 100% foreign-owned banks and foreign banks' branches increased 7.63% to VND755.58 billion.

By the end of December, the capital adequacy ratio (CAR) of the banking system also improved, inching up to 13%, much higher than the 9% rate allowed by the central bank.

However, the ratio of short-term funding to be used for medium- and long-term loans also increased to 31% from 28.93% a month earlier, but remained at the safe level, according to the report.

Under a survey of credit institutions released by the central bank last month, 81% of the institutions also said their performance in 2015 was an improvement over the previous year, with 34% of them saying the improvement was "significant."

According to the survey, thanks to last year's good results, a growing economy and the ability of businesses to take loans in 2016, many credit institutions are optimistic about their business this year. 

Of the surveyed institutions, 93% said their business performance this year would be better than 2015, while 32% of them expected "a much better result."

The demand for banking services, especially for borrowing, is expected to increase further this year after last year's growth.