Title: STATE CAPITAL MANAGEMENT MODEL IN VIETNAMESE COMMERCIAL BANKS: CURRENT SITUATION AND RECOMMENDATIONS

Authors: Huong Lan Thi Dinh and Chung Trong Nguyen

Abstract: In the context of Vietnam’s banking system undergoing restructuring and digital transformation, state-owned commercial banks (SOCBs) play a pivotal role in leading the market and transmitting monetary policy. This paper analyzes the management model of state capital ownership in four major commercial banks (Agribank, BIDV, Vietinbank, and Vietcombank), thereby assessing the current management mechanisms, achievements, as well as limitations. The study is grounded in theoretical frameworks on state-owned enterprise (SOE) governance, international practices (OECD), and secondary data analysis from legal documents, financial reports, and State Bank of Vietnam (SBV) policy papers. Findings show that the current model has contributed to ensuring the central role of SOCBs in stabilizing the financial–monetary system, but still reveals shortcomings in terms of authority decentralization, overlapping functions, and timeliness of capital management. On this basis, the paper recommends improving the management model toward greater professionalism, transparency, and clearer separation between state management and ownership functions, in order to enhance capital efficiency, strengthen competitiveness, and ensure the sustainable development of SOCBs in the new phase.

Keywords: Management model; State capital; Commercial banks; State Bank of Vietnam (SBV); Corporate governance; Organisation for Economic Co-operation and Development (OECD); Banking restructuring; state-owned commercial banks (SOCBs); state-owned enterprise (SOE).

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