Các nhân tố ảnh hưởng đến biên lãi ròng của hệ thống ngân hàng thương mại Việt Nam: Khóa luận đại học chuyên ngành tài chính ngân hàng / a Đào Trung Anh ; người hướng dẫn khoa học Ngô Sĩ Nam

BỘ GIÁO DỤC VÀ ĐÀO TẠO NGÂN HÀNG NHÀ NƢỚC VIỆT NAM

TRƢỜNG ĐẠI HỌC NGÂN HÀNG TP.HỒ CHÍ MINH

ĐÀO TRUNG ANH

CÁC NHÂN TỐ ẢNH HƢỞNG ĐẾN BIÊN LÃI

RÕNG CỦA HỆ THỐNG NGÂN HÀNG

THƢƠNG MẠI VIỆT NAM

KHÓA LUẬN TỐT NGHIỆP

CHUYÊN NGÀNH: TÀI CHÍNH - NGÂN HÀNG

MÃ SỐ: 7340201

TP. HỒ CHÍ MINH, NĂM 2022

BỘ GIÁO DỤC VÀ ĐÀO TẠO NGÂN HÀNG NHÀ NƢỚC VIỆT NAM

TRƢỜNG ĐẠI HỌC NGÂN HÀNG TP.HỒ CHÍ MINH

ĐÀO TRUNG ANH

CÁC NHÂN TỐ ẢNH HƢỞNG ĐẾN BIÊN LÃI

RÕNG CỦA HỆ THỐNG NGÂN HÀNG THƢƠNG

MẠI VIỆT NAM

KHÓA LUẬN TỐT NGHIỆP

CHUYÊN NGÀNH: TÀI CHÍNH - NGÂN HÀNG

MÃ SỐ: 52340201

NGƢỜI HƢỚNG DẪN KHOA HỌC

THS. NGÔ SỸ NAM

TP. HỒ CHÍ MINH, NĂM 2022

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ABSTRACT

The banking system plays an important role in the economy of a country.

Not only acting as a bridge between actors in the economy but the banking system

also ensures the stability of other activities in the economy. For commercial banks

in Vietnam, traditional lending activities contribute a large part to the total income

of the bank. Specifically, this lending activity accounts from 70% to 80% of the

bank's total income. Over the years, due to the strong development of modern

technology, fierce competition on lending interest rates and deposit interest rates

among banks has occurred. In recent years, commercial banks in Vietnam have

been developing new products and services to attract potential customers. However,

income from traditional lending activity still accounts for the majority of the total

income of banks. And to measure the efficiency of lending activities at banks, the

author uses the net interest margin - the difference between the interest earned and

the interest paid by the bank divided by the total assets of the bank. There have been

many research articles by both domestic and foreign authors on the same topic,

agreeing that net interest margin is considered an important indicator to measure the

performance of a bank. Through this net interest margin ratio, the bank can control

the interest income and the amount of interest payable to the lender compared to the

profitable assets and evaluate the efficiency of using the bank's assets. Research

results are the scientific basis for Vietnamese commercial bank managers to make

reasonable and correct decisions and policies, bringing high efficiency to the bank

and promoting economic development.

The study of Thomas SY Ho & Anthony Saunders (1981) studied the factors

affecting the ratio of net interest margin in Ethiopia, this is one of the basic studies

and lays the basis for later studies on net interest margin. Factors affecting net

interest margin include both micro and macro factors. Most of the studies focus on

variables such as bank size, risk aversion, liquidity ratio, credit risk, management

quality, the scale of lending operations, operating costs, non-interest income, total

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deposits, liquidity risk, cost efficiency, implicit interest payment costs, efficiency

measure to scale, reserve policy at state banks, inflation economic growth rate,...

The objective of the study is to clarify the level of impact as well as the

direction of the factors on the net interest margin of 29 commercial banks in

Vietnam. From there, propose solutions to improve the NIM ratio and contribute to

improving the operational efficiency of banks in Vietnam. Panel data are used over

a 10-year period, from 2011 to 2020 with 290 observations. The study uses a

quantitative method. Run variable regression model to test the fit through Pooled

OLS, FEM, REM models. The collected data will be processed on Stata 14

software. The study's layout is divided into 5 chapters.

In chapter 1, the author mentioned the important role of commercial banks in

the economy, specifically how bank operation affects the economy. Overview of the

operation of commercial banks in Vietnam in recent years. Briefly summarize the

opinions of the authors of previous studies on how to use net interest margin to

measure and evaluate the performance of banks. From there, it shows the reasons

for choosing the research topic of the author. Chapter 1 also mentions the goal of

the study and to achieve the goal of the research, the author has proposed issues to

progress towards the implementation of the overall goal of the research paper. In

addition, this chapter also presents the research objective, research object, research

scope, research method, and thesis layout. At the end of chapter 1, the author

mentioned the meaning and contribution of the research topic.

In chapter 2, the author presents the basis of the theories used in the research.

Regarding commercial banks, the author presented the main concepts and functions:

credit intermediary function, payment intermediary function, and money creation

function of commercial banks in Vietnam. In addition, the author also mentions the

basic activities of commercial banks, which are extracted according to the

provisions of the law on credit institutions and the classification of existing

commercial banks in Vietnam. Regarding the net interest margin ratio, the author

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also briefly presents the concept, calculation formula, and meaning of the net profit

margin ratio. Besides, the author also summarizes the results of the latest research

on the same topic of many authors, both domestic and foreign. The table

summarizes the results of the variables used in the author's model from previous

studies. The variables used in the model include micro and macro variables. Micro

variables include bank size, loan size, liquidity, management efficiency, operating

costs, and diversification. Microscopic variables include economic growth and

inflation rate. In addition, the author also presents the impact results of each

variable from previous studies.

In chapter 3, the author builds a research model based on the references of

many previous studies. Specifically, the model includes 8 dependent variables, bank

size (SIZE), loan size (LOAN), liquidity (LIQ), management efficiency (TEATA),

operating cost (OC), diversification (NIITA), economic growth (GDP), and

inflation rate (INF). Besides, the author summarizes the variables and the expected

sign of each variable in the model. From the reference of many previous studies on

the same topic, the author also proposed a research hypothesis for each variable in

the model. At the end of chapter 3, the author presents the steps to test the model.

First, the data will be calculated and presented in the form of panel data. Then, test

the correlation and multicollinearity between the variables through the VIF test.

Next, perform a best-fit model search between the OLS, FEM, and REM models.

To choose between OLS and FEM models, the author uses F-test. Next, use the

Hausman test to consider the choice between FEM and REM models. Finally, the

author tests the defects of the model, specifically considering the phenomenon of

multicollinearity, the phenomenon of error variance, and the phenomenon of series

correlation. All will be tested on Stata 14 software.

Chapter 4 mention the current situation of commercial banks in Vietnam in

the period 2011 to 2020. Accordingly, the growth rate of equity and average lending

tends to decrease over the years. During this period, from 2011 to 2015, banks in

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Vietnam carried out restructuring according to the regulations of the Prime Minister

of Vietnam. Therefore, by the end of 2015, the average growth rate of deposits

increased dramatically, reaching 134.7% compared to 2014.

The research model result shows that the FEM model is more suitable and

explains better than the REM model about the influence of factors on the net

interest margin of banks through measuring the impact on NIM. The final results

show that most of the independent variables have the same effect as the initial

expectation. Specifically, bank size (SIZE), loan size (LOAN), management

efficiency (TEATA), operating costs (OC), and inflation rate (INF) have a positive

impact on the net interest margin. Meanwhile, the remaining variables, liquidity

(LIQ), diversification (NIITA), and growth rate have negative effects on net profit

margin. Of the above variables, the results of the operating cost (OC) variable have

a confidence level of up to 99%. When the bank increased operating expenses by

1%, the net interest margin increased by 71.2%. Banks increase operating costs in

activities such as investing in human resources or investing in products and services

to improve customer experience or expanding branches and using advertising to

attract customers. All of which benefit the bank and contribute to the bank's

profitability. This helps to increase the net interest margin.

On the other hand, at the 10% significance level, liquidity (LIQ) shows the

opposite effect. Specifically, when commercial banks increased their liquidity by

1%, their net interest margins decreased by 1.9%. The Bank holds many liquid

assets, contributing to minimizing liquidity risks and ensuring the safety of the

bank's operations. However, the more liquid an asset is, the lower the profitability

of the asset. Since then, the net interest margin of banks has decreased.

From the above results, chapter 5 proposes solutions and recommendations

for commercial banks in Viet Nam to improve the net interest margin of the

commercial banking system. Specifically, for the issue of bank expansion, banks

need to focus on training and developing human resources in a commensurate

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manner. For the problem of loan expansion, controlling loans to avoid causing

inflation is very important. Therefore, banks need to comply with the credit

regulations of the State Bank. For cost management, banks should invest in things

like employee compensation and benefits, invest in technology systems, and invest

in communication to enhance customer experience and attract more customers. In

this chapter, the author also points out the remaining limitations in the author's

research. And propose expansion directions for future research papers on the same

topic.

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LỜI CAM ĐOAN

Tác giả xin cam đoan, bài nghiên cứu với đề tài “Các nhân tố ảnh hưởng

đến biên lãi ròng của hệ thống ngân hàng thương mại Việt Nam” là công trình

nghiên cứu của tác giả. Kết quả trong bài nghiên cứu là hoàn toàn trung thực, các

thông tin và nội dung tác giả tham khảo đều đƣợc trích dẫn nguồn đầy đủ.

Tp. Hồ Chí Minh, tháng 3 năm 2022

Tác giả

Đào Trung Anh