This study evaluates the financial health of 28 banks in Vietnam using three Multi-Criteria Decision-Making (MCDM) techniques: RAM (Root Assessment Method), PSI (Preference Selection Index), and SRP (Simple Ranking Process). The evaluation criteria include capital adequacy, asset quality, management, earnings, liquidity, and sensitivity to market risk. The results from these three methods are compared with those from the CAMELS rating system, which is commonly used for bank rankings. The study finds that the rankings of banks using the three MCDM methods are quite similar to those from the CAMELS system, indicating the reliability and consistency of the evaluation process. Banks with good financial health include TCB, VPB, MBB, and TP, while banks with weak financial health include BAC A, KLB, NCB, and SCB. The study highlights the importance of these findings for managers, investors, and regulators in making informed decisions about investment, risk management, and development strategies. The research also suggests that expanding the sample size and developing predictive models could provide a more comprehensive view of the banking sector's financial health. However, the study notes that the weights assigned to criteria in the CAMELS system were not determined, and the application of fuzzy sets in future research is recommended.This study evaluates the financial health of 28 banks in Vietnam using three Multi-Criteria Decision-Making (MCDM) techniques: RAM (Root Assessment Method), PSI (Preference Selection Index), and SRP (Simple Ranking Process). The evaluation criteria include capital adequacy, asset quality, management, earnings, liquidity, and sensitivity to market risk. The results from these three methods are compared with those from the CAMELS rating system, which is commonly used for bank rankings. The study finds that the rankings of banks using the three MCDM methods are quite similar to those from the CAMELS system, indicating the reliability and consistency of the evaluation process. Banks with good financial health include TCB, VPB, MBB, and TP, while banks with weak financial health include BAC A, KLB, NCB, and SCB. The study highlights the importance of these findings for managers, investors, and regulators in making informed decisions about investment, risk management, and development strategies. The research also suggests that expanding the sample size and developing predictive models could provide a more comprehensive view of the banking sector's financial health. However, the study notes that the weights assigned to criteria in the CAMELS system were not determined, and the application of fuzzy sets in future research is recommended.