Abstract This study aims to use the annual report data of ten banks in Vietnam during the period 2006-2010 as the research object. Research has used the fixed assets, operating expenses as the input variables and the interest income, non-interest income as output variables. This study used Malmquist Data Envelopment Analysis (DEA) method to calculate five different indices namely the productivity change, technical efficiency change, pure technological efficiency change, efficiency change and scale efficiency change. From the measurement, result indicates the reasons behind the productivity change of Vietnamese bank''s operating performance. In this study, the result signified that out of ten banks, the operating performance of three banks have positive efficiency change which include Vietnam International Banks (VIB), Viet Nam Maritime Commercial Stock Bank and Saigon Thuong Tin Commercial Joint Stock Bank. The productivity change, technical efficiency change, scale efficiency change, efficiency change, pure technological efficiency change in progress with may relate to the increase of diversification in Vietnam''s banking sector.