The first one is Sacombank. At the bank's anniversary in late December 2019, Sacombank said that profit before tax in 2019 was about VND 3,180 billion, 20% higher than the plan committed to the General Meeting of Shareholders. Total assets reached about VND 457,000 billion, deposits reached VND 413,000 billion, loans reached more than VND 296,000 billion and the NPL ratio has now decreased to less than 2%. In addition, Sacombank is ready to apply Basel II from the beginning of 2020, waiting for SBV approval.
Next is TPBank. The bank recently released information that profit before tax last year reached over VND 3,868 billion, an increase of VND 1,610 billion, equivalent to 71.3% compared to the previous year and exceeded 21% compared to the plan. This is the highest profit ever in this bank.
Other indicators also showed positive growth such as total capital mobilization reached over VND 147 trillion, up 24% compared to 2018; Credit reached nearly 102 trillion dong, growing over 20%, focusing mainly on retailing; NPL ratio is close to 1%. In 2019, TPBank made full provision for risks in accordance with regulations, in addition, it made a sufficient provision to settle all bad debts sold to VAMC with a total amount of over VND 700 billion.
In addition to the early compliance with the provisions of Circular 41 and the application of ICAAP according to Basel II standards, in 2019 TPBank also met the new regulations of the State Bank under Circular 52 and Circular No. 13 of the State Bank of Vietnam on the regulation of internal capital (1 in 3 pillars of Basel II).
OCB is also a bank that provides early information on performance. Specifically, according to the bank's representative, profit before tax in 2019 reached more than VND 3,200 billion, an increase of nearly half compared to 2018. And this is also a record of this bank since its establishment.
2019 is also the third consecutive year OCB has exceeded pre-plan profit growth. The compound growth rate (CARG) from 2016 to 2019 reached over 88%. The profitability ratio continues to improve sharply with the return on average assets (ROAA) and the return on average equity (ROAE) above 2.4% and 28%, respectively.
In addition to positive business results, in 2019 OCB is also one of the first banks to meet Circular 41 on capital adequacy (Basel II) and has settled all bonds at VAMC - solid bases for the bank to move forward in 2020 with its own advantages that the regulator has for banks that comply with the deadline.
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Following OCB is VietinBank. At the bank's summation meeting on the afternoon of January 7, the bank suddenly announced a profit of VND 11,500 billion, exceeding the plan and increasing 83% compared to 2018.
For other banks, high profit is predictable, but with VietinBank, it is really surprising because this bank is in a state of "stuck capital", preventing them from raising capital and lending like other banks. This is also the only bank among the group of banks selected to be piloted by the State Bank since 2014 that did not meet Basel II. Because the financial statements have not been published yet, it is unclear where the profit structure of VietinBank comes from, but perhaps one of the reasons is that the bank reduced operating costs and increased revenue from services.
Some other banks have not yet released the figures for 2019 but it is estimated that they will achieve high profits. For example, VPBank said that in 2019, it would exceed 10% of the plan (VND 9,500 billion), profit would be at least VND 10,400 billion; Vietcombank would far exceed such plan, not less than VND 20,000 billion; VIB would reach about over VND 4,000 billion; Agribank has achieved nearly VND 12,000 billion in 11 months; At Nam A Bank, according to the bank's leader, profit last year also reached more than VND 900 billion, exceeding the plan.
Thus, although not yet official by the financial statements, the recently published figures are enough to promise a brilliant picture of bank profits in 2019.
>>> Read more: Many Banks Reported Higher Profit Than The Year’s Plan