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Which banks are about to finish the year’s plan soon?

Monday 18, 11 2019
Statistics from 26 banks show that, in the first 9 months, the total profit before tax of these banks reached over VND 94,000 billion, fulfilling 80% of the year plan. Leaders of some big banks are also confident about their ability to exceed the plan this year.
Which banks are about to finish the year’s plan soon?

What is the progress in implementing the annual plan of the banks?

In this list, only a small bank, Saigonbank, exceeded the plan for 9 months. The bank's EBT for the first 9 months reached 221 billion dong, completing 126% of the year plan (175 billion dong).

There are 17/26 banks that have gone more than three-quarters of the year plan, including banks that have implemented over 90%. Sacombank with a profit of 2,491 billion, reaching 94% compared to the target of 2,650 billion after only 9 months. Or Agribank after 9 months had EBT of VND 9,700 billion, only a short distance from VND 10,000 billion.

Other major banks such as Vietcombank, VietinBank, and MBBank also have very high rates of completion of annual profit targets, respectively 88%, 89%, and 77%.

In the mid-range banking group, the names that are going much faster than planned include SeABank (83% completed), LienVietPostBank (86%), VIB (86%), ...

Many banks are confident to exceed the plan

It can be seen that the prospect of achieving the goals set by the AGM of many banks this year is quite feasible. Leaders of some banks are also confident about their ability to exceed the plan this year.

Once shared with investors recently, Mr. Nguyen Duc Vinh, CEO of VPBank, said that the bank might soon complete its business plan in November, and the business results of the year might exceed the target of about 10%.

n the first 9 months, VPBank's EBT reached VND 7,199 billion, fulfilling 76% of the whole year target of VND 9,500 billion. Notably, the bank's growth rate began to break up again in the third quarter. With the largest market share in the consumer credit market, VPBank's profits often increased sharply in the last quarter of the year, when consumer demand is high.

Meanwhile, Techcombank CEO Mr. Nguyen Le Quoc Anh is also confident that the bank will surpass the profit target of VND 11,750 billion. In the first 9 months, Techcombank's EBT reached VND 8,860 billion, fulfilling 75% of the plan.

With a profit of nearly VND 17,600 billion in 9 months, Vietcombank has come very close to the target of VND 20,000 billion for the whole year. Bank leaders also shared confidence many times beyond the plan. Even, observers expect Vietcombank's profit will reach billion this year, equivalent to more than 23,000 billion. With the current growth rate, plus the signing of an insurance distribution agreement with FWD, the billion-dollar milestone is entirely possible with Vietcombank.

At MBBank, the bank said that by the end of October, individual EBT would have reached over VND 8,000 billion, fulfilling 96% of the plan. MBBank also said that many forecasts that the bank could achieve a consolidated profit before tax of VND 10,000 billion this year - higher than the target of VND 9,895 billion.

A representative of the mid-range banking group, TPBank, is also likely to exceed the plan. According to Mr. Nguyen Hung, CEO of the bank, confident that he would go faster than planned so the bank decided to make a provision for early settlement of all VAMC bonds. Mr. Hung also said that according to his estimates, the bank might earn an average interest of about 300 million / month in the year-end period. After 9 months, TPBank's EBT is VND 2,404 billion, fulfilling 75% of the year plan.

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