According to second quarter financial reports, 13 banks reduced their staff while 15 increased headcounts in the first six months of 2025.
LPBank recorded the sharpest reduction, cutting 1,986 jobs to 9,203 employees. VIB and Sacombank also downsized by over 1,000 staff each, with VIB dropping 1,186 to 10,137 employees, and Sacombank reducing by 1,158 to 15,900.
Other banks with significant reductions included ACB (down 607), ABBank (469), Agribank (273), and Vietcombank (191).
Experts attributed the workforce cuts primarily to digital transformation, which has prompted banks to streamline operations and shift services online.
VietinBank closed the most branches during this period but still increased its headcount slightly, by 15 to 22,507.
In contrast, VPBank added the most staff, hiring 677 to reach 15,680. BIDV followed with 606 new hires, while MB and Techcombank expanded by 468 and 329 employees respectively.
State-owned banks continue to dominate in staffing size, with Agribank leading at 40,691 employees, followed by BIDV (26,675), Vietcombank (23,347), and VietinBank (22,507).
Among private banks, Sacombank remains the largest employer with 15,900 staff, followed by VPBank.
At the other end of the spectrum, six banks have fewer than 3,000 employees, including VietBank (2,993), BVBank (2,932), NCB (2,196), PGBank (1,913), Viet A Bank (1,592), and Saigonbank (1,460).