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Which banks should belong to the top 10 businesses in Vietnam with the highest profit in 2019?

Thursday 07, 11 2019
The rankings based on the main criteria that reflect profitability, profit before tax and revenue of the business have listed the best-known banks today.
Which banks should belong to the top 10 businesses in Vietnam with the highest profit in 2019?

On November 6, 2019, in Hanoi, Vietnam Report (VNR) announced the Profit500 Ranking and honored the units in the rankings including the Top 10 companies with the highest profit in Vietnam, the Vietnam's top 15 best profitable private economies in 2019, and the top 10 companies in the Banking - Finance – Securities sector with the most profits, etc.

Accordingly, the most profitable businesses in 2019 call for names of big corporations and enterprises such as Petrolimex; Samsung; Viettel; Vingroup; Vinamilk; Vietjet, etc.; The top 10 profitable banks include Vietcombank; Techcombank; VPBank; MB; HDBank, ACB, BIDV, etc.

Vietnam Report said that the list and ranking of enterprises in the rankings are evaluated objectively and independently based on the calculation of weighted scores, with the main criteria being the indicators of profitability (ROA, ROE, ROR, the profit before tax, and the revenue of the business.

The companies in the Profit500 Ranking are evaluated as those with good profitability, which are the pillars for the development of Vietnam's economy, and at the same time, contribute to introducing Vietnamese business brands to the domestic and international business communities.

At the top 10 list of the most profitable banks - finance - securities in Vietnam in 2019, banks continue to be the focus of attention when the rankings of the trillions club are constantly being swapped and the name of Techcombank, MB, VPBank, BIDV, ACB or of the new star HDBank are continuously promoted.

Specifically, Vietcombank was still the champion of profit when in the first 9 months of this year, the bank consolidated a profit before tax of VND 17,592 billion, up 50.6% over the same period and reached 85.8% of the 2019 plan, of which the parent bank alone reached VND 17,250 billion, up 51.9% over the same period in 2018 and reached 85.4% of the plan for 2019. Return on average assets (ROAA) and return on average equity (ROAE) ) reached respectively 1.65% and 25.75%, which are sharp increases compared to 2018 and higher than the general level.
Which banks should belong to the top 10 businesses in Vietnam with the highest profit in 2019?

Ranked 2nd and 3rd positions in the rankings are Techcombank and VietinBank. Techcombank recorded a pre-tax profit of VND 8,860 billion after 9 months of operation, up 14% over the same period, with Q3 alone reaching VND 3,198 billion, up 24% over the same period. Meanwhile, VietinBank recorded a profit of VND 8,456 billion, up 11.3% over the same period.

In the last 3 quarters, the Bank's profit before tax was VND 7,616 billion, up 26.6% over the same period. VPBank with a profit of VND 7,199 billion in the first nine months of the year, fulfilling 76% of the year plan while BIDV also reached more than VND 7,000 billion.

At HDBank, in the first 9 months of the year, the bank achieved a profit of 3,448 billion VND. Although compared to the top 3 banks, this figure is still modest, but this is the highest number ever of this bank. In the third quarter of 2019 alone, HDBank's profit before tax reached VND 1,238 billion, up 51% compared to the same period in 2018. Return on assets (ROA) and return on equity (ROE) are 1.7% and 20.2%, respectively. The bank's asset quality is confirmed with a separate NPL ratio of only 1.1%, one of the lowest in the industry.

In addition to the rating chart of businesses, Vietnam Report also has assessments on indicators, business environment, as well as potential growth groups, in which the banking sector ranked fifth in the group with strong growth potential in the period of 2020-2025.

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