{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2025,10,12]],"date-time":"2025-10-12T02:07:52Z","timestamp":1760234872094,"version":"build-2065373602"},"reference-count":54,"publisher":"MDPI AG","issue":"3","license":[{"start":{"date-parts":[[2021,6,24]],"date-time":"2021-06-24T00:00:00Z","timestamp":1624492800000},"content-version":"vor","delay-in-days":0,"URL":"https:\/\/creativecommons.org\/licenses\/by\/4.0\/"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["Axioms"],"abstract":"<jats:p>The interactive relationship between the banking system and enterprise makes up the role that affects a national economy. Significantly, the relationship between banking and technology has become tighter over the past few decades. An assessment of bank performance is critical for understanding their position and provides valuable information to practitioners. In this paper, we assess the performance of the top 18 commercial banks in Vietnam during 2015\u20132019. The assessment utilizes two data envelopment analysis (DEA) models while involving the banks\u2019 performance in six dimensions, including assets, deposits, operating expenses, liabilities as inputs, while treating loans and net income as outputs. Using the Malmquist measurement, the total productivity growth indexes of the banks are obtained, which are decomposed into technical and technological evolutions. Window analysis is used to compute the efficiencies of the banks in every single year in 2015\u20132019. From the results of Malmquist, most banks are found to decrease their Malmquist productivity indexes from 2015 to 2019, wherein both of their technical and technological indexes declined. Window analysis indicates B6-SHBank, B1-Vietinbank, and B18-PetrolimexGroup as the most efficient banks during 2015\u20132019, and in the interim, B16-BaoVietBank, B11-NationalCitizen, and B13-VietnamMaritime ranked on the bottom line. The managerial implications of this research help to reflect the comprehensive insights of the top Vietnamese commercial bank performance and offer a strategic guideline for decision-makers toward sustainable development in the banking industry.<\/jats:p>","DOI":"10.3390\/axioms10030131","type":"journal-article","created":{"date-parts":[[2021,6,24]],"date-time":"2021-06-24T11:01:38Z","timestamp":1624532498000},"page":"131","update-policy":"https:\/\/doi.org\/10.3390\/mdpi_crossmark_policy","source":"Crossref","is-referenced-by-count":13,"title":["A Decision Support Model for Measuring Technological Progress and Productivity Growth: The Case of Commercial Banks in Vietnam"],"prefix":"10.3390","volume":"10","author":[{"ORCID":"https:\/\/orcid.org\/0000-0002-2374-3830","authenticated-orcid":false,"given":"Chia-Nan","family":"Wang","sequence":"first","affiliation":[{"name":"Department of Industrial Engineering and Management, National Kaohsiung University of Science and Technology, Kaohsiung 80778, Taiwan"}],"role":[{"role":"author","vocabulary":"crossref"}]},{"ORCID":"https:\/\/orcid.org\/0000-0001-8982-3254","authenticated-orcid":false,"given":"Ngoc-Ai-Thy","family":"Nguyen","sequence":"additional","affiliation":[{"name":"Department of Industrial Engineering and Management, National Kaohsiung University of Science and Technology, Kaohsiung 80778, Taiwan"}],"role":[{"role":"author","vocabulary":"crossref"}]},{"ORCID":"https:\/\/orcid.org\/0000-0002-8559-0868","authenticated-orcid":false,"given":"Thanh-Tuan","family":"Dang","sequence":"additional","affiliation":[{"name":"Department of Industrial Engineering and Management, National Kaohsiung University of Science and Technology, Kaohsiung 80778, Taiwan"},{"name":"Department of Logistics and Supply Chain Management, Hong Bang International University, Ho Chi Minh 723000, Vietnam"}],"role":[{"role":"author","vocabulary":"crossref"}]},{"ORCID":"https:\/\/orcid.org\/0000-0002-1796-5920","authenticated-orcid":false,"given":"Thi-Thuy-Quynh","family":"Trinh","sequence":"additional","affiliation":[{"name":"Department of Industrial Engineering and Management, National Kaohsiung University of Science and Technology, Kaohsiung 80778, Taiwan"}],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"1968","published-online":{"date-parts":[[2021,6,24]]},"reference":[{"key":"ref_1","unstructured":"(2021, May 14). COVID-19 Hits Profitability of National Banking Sector. Available online: https:\/\/customsnews.vn\/covid-19-hits-profitability-of-national-banking-sector-14135.html."},{"key":"ref_2","unstructured":"(2021, May 14). Banking Sector Reviews Effects of Covid-19 Pandemic Prepare for Difficult Year. Available online: https:\/\/vietnamnews.vn\/economy\/business-beat\/716434\/banking-sector-reviews-effects-of-covid-19-pandemic-prepare-for-difficult-year.html."},{"key":"ref_3","doi-asserted-by":"crossref","first-page":"1417","DOI":"10.1080\/1540496X.2018.1524326","article-title":"Determinants of Bank Profitability\u2013Evidence from Vietnam","volume":"55","author":"Batten","year":"2019","journal-title":"Emerg. Markets Financ. Trade"},{"key":"ref_4","doi-asserted-by":"crossref","first-page":"445","DOI":"10.1016\/j.jbankfin.2019.07.013","article-title":"Does efficiency help banks survive and thrive during financial crises?","volume":"106","author":"Assaf","year":"2019","journal-title":"J. Bank. Financ."},{"key":"ref_5","doi-asserted-by":"crossref","first-page":"61","DOI":"10.1016\/j.omega.2011.08.010","article-title":"A survey on bank branch efficiency and performance research with data envelopment analysis","volume":"41","author":"Paradi","year":"2013","journal-title":"Omega"},{"key":"ref_6","doi-asserted-by":"crossref","first-page":"31","DOI":"10.1007\/s10479-014-1568-8","article-title":"Identifying distress among banks prior to a major crisis using non-oriented super-SBM","volume":"217","author":"Avkiran","year":"2014","journal-title":"Ann. Oper. Res."},{"key":"ref_7","doi-asserted-by":"crossref","first-page":"141","DOI":"10.1016\/j.omega.2014.07.002","article-title":"An illustration of dynamic network DEA in commercial banking including robustness tests","volume":"55","author":"Avkiran","year":"2015","journal-title":"Omega"},{"key":"ref_8","doi-asserted-by":"crossref","first-page":"113218","DOI":"10.1016\/j.eswa.2020.113218","article-title":"Z-ERM DEA integrated approach for evaluation of banks & financial institutes in stock exchange","volume":"147","author":"Mohtashami","year":"2020","journal-title":"Expert Syst. Appl."},{"key":"ref_9","first-page":"289","article-title":"Measuring the performance of the banking system: Case of Vietnam (1990\u20132010)","volume":"2","year":"2012","journal-title":"J. Appl. Financ. Bank."},{"key":"ref_10","doi-asserted-by":"crossref","first-page":"132","DOI":"10.5430\/ijfr.v9n1p132","article-title":"Multi-Criteria Decision-Making Model Evaluating the Performance of Vietnamese Commercial Banks","volume":"9","author":"Cuong","year":"2018","journal-title":"Int. J. Financ. Res."},{"key":"ref_11","first-page":"14","article-title":"Assessing the Efficiency of commercial Tunisian Banks using Fuzzy Data Envelopment Analysis","volume":"2","author":"Tlig","year":"2017","journal-title":"J. Data Envel. Anal. Decis. Sci."},{"key":"ref_12","doi-asserted-by":"crossref","first-page":"1450","DOI":"10.1016\/j.jbankfin.2010.02.023","article-title":"Differential impact of Korean banking system reforms on bank productivity","volume":"34","author":"Banker","year":"2010","journal-title":"J. Bank. Financ."},{"key":"ref_13","doi-asserted-by":"crossref","unstructured":"Paradi, J.C., Sherman, H.D., and Tam, F.K. (2018). Bank branch benchmarking with quality as a component. Data Envelopment Analysis in the Financial Services Industry, Springer.","DOI":"10.1007\/978-3-319-69725-3_11"},{"key":"ref_14","doi-asserted-by":"crossref","first-page":"2024","DOI":"10.4236\/tel.2018.811132","article-title":"Measuring the systemic risk of regional banks in Japan with PLS-SEM","volume":"8","author":"Avkiran","year":"2018","journal-title":"Theor. Econ. Lett."},{"key":"ref_15","doi-asserted-by":"crossref","unstructured":"Dincer, H., Hacioglu, \u00dc., and Celik, I.E. (2014). The Game Theory and Reflections on Competitive Strategies in the Banking Sector. Managerial Issues in Finance and Banking, Springer.","DOI":"10.1007\/978-3-319-01387-9"},{"key":"ref_16","doi-asserted-by":"crossref","first-page":"268","DOI":"10.1108\/IJBM-03-2014-0042","article-title":"How to recover trust in the banking industry? A game theory approach to empirical analyses of bank and corporate customer relationships","volume":"32","author":"Dahlstrom","year":"2014","journal-title":"Int. J. Bank Mark."},{"key":"ref_17","doi-asserted-by":"crossref","first-page":"16","DOI":"10.1016\/j.jfds.2017.09.002","article-title":"Participation against competition in banking markets based on cooperative game theory","volume":"4","author":"Khanizad","year":"2018","journal-title":"J. Financ. Data Sci."},{"key":"ref_18","first-page":"53","article-title":"Application of Game Theory in Determining the Optimum Marketing Mix Strategy in Banking Companies","volume":"9","author":"Panjaitan","year":"2020","journal-title":"Int. J. Basic Appl. Sci."},{"key":"ref_19","doi-asserted-by":"crossref","first-page":"389","DOI":"10.3846\/20294913.2012.688072","article-title":"A strategic cooperative game-theoretic model for market segmentation with application to banking in emerging economies","volume":"18","author":"Zandi","year":"2012","journal-title":"Technol. Econ. Dev. Econ."},{"key":"ref_20","doi-asserted-by":"crossref","unstructured":"Wang, C.N., Tsai, T.T., Hsu, H.P., and Nguyen, L.H. (2019). Performance evaluation of major Asian airline companies using DEA window model and grey theory. Sustainability, 11.","DOI":"10.3390\/su11092701"},{"key":"ref_21","doi-asserted-by":"crossref","unstructured":"Wang, C.N., Tibo, H., and Duong, D.H. (2020). Renewable Energy Utilization Analysis of Highly and Newly Industrialized Countries Using an Undesirable Output Model. Energies, 13.","DOI":"10.3390\/en13102629"},{"key":"ref_22","doi-asserted-by":"crossref","unstructured":"Novickyt\u0117, L., and Dro\u017edz, J. (2018). Measuring the efficiency in the Lithuanian banking sector: The DEA application. Int. J. Financ. Stud., 6.","DOI":"10.3390\/ijfs6020037"},{"key":"ref_23","doi-asserted-by":"crossref","unstructured":"Xu, T., You, J., and Shao, Y. (2020). Efficiency of China\u2019s Listed Securities Companies: Estimation through a DEA-Based Method. Mathematics, 8.","DOI":"10.3390\/math8040589"},{"key":"ref_24","doi-asserted-by":"crossref","unstructured":"Wang, C.N., Hsu, H.P., Wang, Y.H., and Nguyen, T.T. (2020). Eco-Efficiency Assessment for Some European Countries Using Slacks-Based Measure Data Envelopment Analysis. Appl. Sci., 10.","DOI":"10.3390\/app10051760"},{"key":"ref_25","doi-asserted-by":"crossref","first-page":"367","DOI":"10.1016\/j.ijpe.2007.03.015","article-title":"DEA Malmquist productivity measure: Taiwanese semiconductor companies","volume":"112","author":"Liu","year":"2008","journal-title":"Int. J. Prod. Econ."},{"key":"ref_26","doi-asserted-by":"crossref","first-page":"221","DOI":"10.1016\/j.jup.2004.04.013","article-title":"Sources of efficiency gains in port reform: A DEA decomposition of a Malmquist TFP index for Mexico","volume":"12","author":"Estache","year":"2004","journal-title":"Util. Policy"},{"key":"ref_27","doi-asserted-by":"crossref","first-page":"501","DOI":"10.1016\/S0377-2217(99)00305-7","article-title":"Assessing the relative efficiency and productivity growth of vehicle inspection services: An application of DEA and Malmquist indices","volume":"126","author":"Odeck","year":"2000","journal-title":"Eur. J. Oper. Res."},{"key":"ref_28","doi-asserted-by":"crossref","first-page":"41","DOI":"10.1016\/j.econmod.2017.04.027","article-title":"The driving forces of the change in China\u2019s energy intensity: An empirical research using DEA-Malmquist and spatial panel estimations","volume":"65","author":"Huang","year":"2017","journal-title":"Econ. Model."},{"key":"ref_29","doi-asserted-by":"crossref","first-page":"379","DOI":"10.1016\/j.eswa.2007.07.011","article-title":"A DEA window analysis on the product family mix selection for a semiconductor fabricator","volume":"35","author":"Chung","year":"2008","journal-title":"Expert Syst. Appl."},{"key":"ref_30","doi-asserted-by":"crossref","first-page":"155","DOI":"10.1016\/j.rser.2017.03.054","article-title":"Assess and prognosticate greenhouse gas emissions from agricultural production of EU countries, by implementing, DEA Window analysis and artificial neural networks","volume":"76","author":"Vlontzos","year":"2017","journal-title":"Renew. Sustain. Energy Rev."},{"key":"ref_31","doi-asserted-by":"crossref","first-page":"2168","DOI":"10.1016\/j.ecolecon.2009.02.018","article-title":"Exploring the existence of Kuznets curve in countries\u2019 environmental efficiency using DEA window analysis","volume":"68","author":"Halkos","year":"2009","journal-title":"Ecol. Econ."},{"key":"ref_32","doi-asserted-by":"crossref","first-page":"587","DOI":"10.1016\/S2212-5671(14)00383-9","article-title":"Efficiency of the Czech banking sector employing the DEA window analysis approach","volume":"12","year":"2014","journal-title":"Procedia Econ. Financ."},{"key":"ref_33","doi-asserted-by":"crossref","unstructured":"Le, T.N., and Wang, C.N. (2017). The integrated approach for sustainable performance evaluation in value chain of Vietnam textile and apparel industry. Sustainability, 9.","DOI":"10.3390\/su9030477"},{"key":"ref_34","doi-asserted-by":"crossref","unstructured":"Wang, C.-N., Nguyen, N.-A.-T., Fu, H.-P., Hsu, H.-P., and Dang, T.-T. (2021). Efficiency Assessment of Seaport Terminal Operators Using DEA Malmquist and Epsilon-Based Measure Models. Axioms, 10.","DOI":"10.3390\/axioms10020048"},{"key":"ref_35","doi-asserted-by":"crossref","first-page":"429","DOI":"10.1016\/0377-2217(78)90138-8","article-title":"Measuring the efficiency of decision-making units","volume":"2","author":"Charnes","year":"1979","journal-title":"Eur. J. Oper. Res."},{"key":"ref_36","doi-asserted-by":"crossref","unstructured":"Wang, C.-N., Dang, T.-T., Nguyen, N.-A.-T., and Le, T.-T.-H. (2020). Supporting Better Decision-Making: A Combined Grey Model and Data Envelopment Analysis for Efficiency Evaluation in E-Commerce Marketplaces. Sustainability, 12.","DOI":"10.3390\/su122410385"},{"key":"ref_37","first-page":"323","article-title":"DEA with interval data: An illustration using the evaluation of branches of a Czech bank","volume":"12","author":"Jablonsky","year":"2004","journal-title":"Cent. Eur. J. Oper. Res."},{"key":"ref_38","doi-asserted-by":"crossref","first-page":"231","DOI":"10.1111\/j.1468-0394.2010.00516.x","article-title":"Data envelopment analysis with classification and regression tree\u2014A case of banking efficiency","volume":"27","author":"Emrouznejad","year":"2010","journal-title":"Expert Syst."},{"key":"ref_39","doi-asserted-by":"crossref","first-page":"608","DOI":"10.1016\/j.econmod.2013.03.003","article-title":"Using independent component analysis and network DEA to improve bank performance evaluation","volume":"32","author":"Lin","year":"2013","journal-title":"Econ. Model."},{"key":"ref_40","doi-asserted-by":"crossref","first-page":"41","DOI":"10.1016\/j.jbankfin.2013.09.022","article-title":"Indian bank efficiency and productivity changes with undesirable outputs: A disaggregated approach","volume":"38","author":"Fujii","year":"2014","journal-title":"J. Bank. Financ."},{"key":"ref_41","doi-asserted-by":"crossref","first-page":"5","DOI":"10.1016\/j.omega.2013.09.005","article-title":"Efficiency measures of the Chinese commercial banking system using an additive two-stage DEA","volume":"44","author":"Wang","year":"2014","journal-title":"Omega"},{"key":"ref_42","doi-asserted-by":"crossref","first-page":"378","DOI":"10.1016\/j.ejor.2015.10.018","article-title":"Assessing productive efficiency of banks using integrated Fuzzy-DEA and bootstrapping: A case of Mozambican banks","volume":"249","author":"Wanke","year":"2016","journal-title":"Eur. J. Oper. Res."},{"key":"ref_43","doi-asserted-by":"crossref","first-page":"359","DOI":"10.1016\/j.iref.2019.08.001","article-title":"Comprehensive performance evaluation of banking branches: A three-stage slacks-based measure (SBM) data envelopment analysis","volume":"64","author":"Mahmoudabadi","year":"2019","journal-title":"Int. Rev. Econ. Financ."},{"key":"ref_44","doi-asserted-by":"crossref","first-page":"102145","DOI":"10.1016\/j.omega.2019.102145","article-title":"Measuring Taiwanese bank performance: A two-system dynamic network data envelopment analysis approach","volume":"98","author":"Yu","year":"2021","journal-title":"Omega"},{"key":"ref_45","doi-asserted-by":"crossref","first-page":"e06524","DOI":"10.1016\/j.heliyon.2021.e06524","article-title":"Performance and risk in the Brazilian banking industry","volume":"7","year":"2021","journal-title":"Heliyon"},{"key":"ref_46","doi-asserted-by":"crossref","unstructured":"Wang, C.-N., Nguyen, T.-L., and Dang, T.-T. (2021). Analyzing Operational Efficiency in Real Estate Companies: An Application of GM (1,1) and DEA Malmquist Model. Mathematics, 9.","DOI":"10.3390\/math9030202"},{"key":"ref_47","doi-asserted-by":"crossref","unstructured":"Wang, C.-N., Nguyen, T.-L., Dang, T.-T., and Bui, T.-H. (2021). Performance Evaluation of Fishery Enterprises Using Data Envelopment Analysis\u2014A Malmquist Model. Mathematics, 9.","DOI":"10.3390\/math9050469"},{"key":"ref_48","doi-asserted-by":"crossref","first-page":"95","DOI":"10.1007\/BF01874734","article-title":"A Developmental Study of Data Envelopment Analysis in Measuring the Efficiency of Maintenance Units in the U.S. Air Forces","volume":"2","author":"Charnes","year":"1985","journal-title":"Ann. Oper. Res."},{"key":"ref_49","first-page":"31","article-title":"Data Envelopment Analysis and Commercial Bank Performance: A Primer with Applications to Missouri Banks","volume":"74","author":"Yue","year":"1992","journal-title":"Fed. Reserve Bank St. Louis Rev."},{"key":"ref_50","doi-asserted-by":"crossref","unstructured":"Charnes, A., Cooper, W.W., Lewin, A.Y., and Seiford, L.M. (1995). Data Envelopment Analysis: Theory, Methodology and Applications, Springer.","DOI":"10.1007\/978-94-011-0637-5"},{"key":"ref_51","unstructured":"(2020, June 18). Vietnam Online Stock Market. Available online: http:\/\/vietstock.vn\/."},{"key":"ref_52","unstructured":"(2021, June 01). VPBank in Sustainable Development Strategy. Available online: https:\/\/tuoitre.vn\/vpbank-duy-tri-tang-truong-ben-vung-20200717151111649.htm."},{"key":"ref_53","unstructured":"(2021, June 04). Top 10 Vietnamese Commercial Banks in 2020. Available online: https:\/\/vietnamnet.vn\/vn\/kinh-doanh\/vef\/top-10-ngan-hang-thuong-mai-viet-nam-uy-tin-nam-2020-657568.html."},{"key":"ref_54","unstructured":"(2021, June 01). Vietnamese Commercial Banks in COVID-19, Available online: http:\/\/tapchinganhang.gov.vn\/thach-thuc-cho-cac-ngan-hang-thuong-mai-trong-va-sau-dich-covid-19.htm?fbclid=IwAR3eK8PKYl2PO7l5yjGgMIhAsW7DRXnEyUgUQ52tPGgkjJQa99BfuZLpQtY."}],"container-title":["Axioms"],"original-title":[],"language":"en","link":[{"URL":"https:\/\/www.mdpi.com\/2075-1680\/10\/3\/131\/pdf","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2025,10,11]],"date-time":"2025-10-11T06:23:09Z","timestamp":1760163789000},"score":1,"resource":{"primary":{"URL":"https:\/\/www.mdpi.com\/2075-1680\/10\/3\/131"}},"subtitle":[],"short-title":[],"issued":{"date-parts":[[2021,6,24]]},"references-count":54,"journal-issue":{"issue":"3","published-online":{"date-parts":[[2021,9]]}},"alternative-id":["axioms10030131"],"URL":"https:\/\/doi.org\/10.3390\/axioms10030131","relation":{},"ISSN":["2075-1680"],"issn-type":[{"type":"electronic","value":"2075-1680"}],"subject":[],"published":{"date-parts":[[2021,6,24]]}}}