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Top 10 most profitable banks in Vietnam 2022

Top 10 most profitable banks in Vietnam 2022

Saturday 04, 02 2023
Vietcombank leads in profit with more than VND 37,300 billion of pre-tax profit, followed by Techcombank, BIDV, MB, VPBank, VietinBank,...

Top most profitable banks

According to the latest update, Vietcombank continues to hold the top position in banking profit in 2022 with full-year pre-tax profit of more than VND 37,300 billion, up 36% over the same period last year. Specifically, net interest income which was the main source of revenue of the bank, reached VND 53,246 billion, up 26% over the same period.

Vietnamcredit Vietcombank

Techcombank was in second place with a 10% increase in pre-tax profit, reaching nearly VND 26,000 billion. Its interest income reached VND 30,300 billion, up 13.5% YoY, mainly thanks to the growth of credit portfolio with net profit margin managed at 5.1%.

The bank’s income from service activities increased by 24.8% over the same period last year, reaching VND 9,700 billion. Fees from card services alone reached more than VND 1,980 billion, up 83.5% over the previous year; revenue from insurance services increased by 12.3% to over VND 1,750 billion; revenue from letters of credit increased 154% to over VND 2,016 billion.

Coming out third is BIDV with pre-tax profit of VND 23,057 billion, the highest level ever, up 70.2% over the previous year. Profit after tax of the bank reached more than VND 18,453 billion.

Holding the fourth position is MB with VND 22,729 billion of pre-tax profit, up 28% over the same period. VPBank ranked at 5th place when it recorded a profit before tax for the whole year of VND 21,220 billion, up 48% over the same period.

Vietnamcredit Profit ranking

Other private banks including ACB, VIB and HDBank all recorded a pre-tax profit of over VND 10,000 billion in 2022. The group of banks with profits below VND 1,000 billion includes Kienlongbank, PG Bank, Ban Viet Bank, Saigonbank and NCB.

Postive profit growth

In terms of growth, most banks experienced positive profit growth in 2022. In which, Eximbank is the bank with the strongest increase in profit compared to 2021 at 208%. Only 4 banks saw a decrease in profits compared to last year, including Kienlongbank, NCB, OCB and ABBank.

Particularly in the fourth quarter, there were 6 banks that recorded a decrease in profits over the same period, of which SHB was the bank with the strongest decrease (48%). Meanwhile, ABBank was the only bank with a loss in the fourth quarter with a loss of VND 45 billion.

Vietnamcredit Postive profit growth

Source: vietnambiz

Compiled by VietnamCredit

Banking & Finance

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