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Top 10 banks with the highest ROE in Q1/2023

Top 10 banks with the highest ROE in Q1/2023

Monday 05, 06 2023
In the first quarter, ROE of most banks recorded a decline due to a decrease in profits. ACB surpassed other banks to be the leading bank in terms of ROE.

Vietnamcredit ACB took the lead

ACB took the lead

According to data from 28 domestic commercial banks that have published their financial statements for the first quarter of 2023, their return on equity (ROE) ratios tend to decrease simultaneously in the first quarter of 2023.

Twenty one out of 28 banks recorded a decrease in ROE over the same period last year. The ratio of total net profit to total equity of these banks decreased from 5.97% to 4.71%.

Leading in terms of ROE are joint stock banks. ACB overtook VIB to take the lead with ROE of 6.84% (a slight decrease compared to the same period last year). Top three banks with the highest ROE are ACB, VIB and SHB.

Vietnamcredit Leading in terms of ROE

Vietcombank ranked 4th with ROE of 6.42% while BIDV ranked 7th and VietinBank was not in the top 10 (including ACB, VIB, SHB, Vietcombank, MB, HDBank, BIDV, LPBank, Sacombank and Nam A Bank).

The banks with the strongest decrease in ROE include VPBank, LPBank, VietABank, Viet Capital Bank, etc.

In contrast, there were 7 banks with an increase inn ROE over the same period. They are BIDV, Sacombank, OCB, Kienlongbank, Bac A Bank, PG Bank and Vietbank.

Vietnamredit Top 10 banks with highest ROE

More pressure in 2023

Banks' profits in the first quarter were hit hard due to the impact of inflation, rising interest rates along with the effects of the calm and freezing real estate market and corporate bonds markets.

According to data from Wigroup, NIM of the whole banking industry in the first quarter decreased slightly to 3.61% from 3.79% in the fourth quarter of 2022. Breaking down the NIM ratio by group, it can be seen that the NIM growth of State-owned commercial banks and other commercial banks cannot offset the decrease in NIM from large commercial banks such as VPBank, Techcombank, and MB.

"In general, in 2023 the banking industry is expected to suffer from more pressure compared to 2022 in the context of increasing capital and provision costs and slow credit growth" Wigroup experts forecast.

Source: vietnambiz

Compiled by VietnamCredit


Banking & Finance

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