Physical Education lessons with many content elements directly related to higher physical activity levels, along with teaching methods that encourage and enhance physical activity levels of lecturers, can meet the average and moderate physical activity levels recommended for all Banking Academy students in all academic years. In addition, the actual teaching time per week appears to be too limited and is identified as one of the main reasons affecting the meeting of the average and moderate physical activity levels recommended in Physical Education lessons at schools according to Vietnamese regulations. However, some factors are only significant for some Physical Education classes by academic year. Organizing outdoor classes is associated with average and moderate physical activity levels ≥50% in first and second year classes. Higher physical activity content was associated with ≥50% moderate physical activity in first-year classes only.Physical Education lessons with many content elements directly related to higher physical activity levels, along with teaching methods that encourage and enhance physical activity levels of lecturers, can meet the average and moderate physical activity levels recommended for all Banking Academy students in all academic years. In addition, the actual teaching time per week appears to be too limited and is identified as one of the main reasons affecting the meeting of the average and moderate physical activity levels recommended in Physical Education lessons at schools according to Vietnamese regulations. However, some factors are only significant for some Physical Education classes by academic year. Organizing outdoor classes is associated with average and moderate physical activity levels ≥50% in first and second year classes. Higher physical activity content was associated with ≥50% moderate physical activity in first-year classes only.