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Top 10 most profitable banks in Vietnam 9M2022

Top 10 most profitable banks in Vietnam 9M2022

Monday 21, 11 2022
Vietcombank continued to be the most profitable bank with with pre-tax profit of VND 24,940 billion, up 29% over the same period. The two other banks in the Big 4 group including BIDV and VietinBank, are way behind Vietcombank.

vietnamcredit Top 10 Bank

Vietcombank is the most profitable bank

According to data from the financial statements for the third quarter of 2022 of 28 banks, the total pre-tax profit of the banks reached VND 199,534 billion, up 44% over the same period last year.

Accordingly, Vietcombank continued to be the champion in terms of profit in the first 9 months of the year with VND 24,940 billion, up 29% over the same period. Following is Techcombank with pre-tax profit of VND 20,822 billion, up 22% over the same period. These are two banks with pre-tax profits exceeding VND 20,000 billion in the first 9 months of the year.

Vietnamcredit Vietcombank

VPBank and MB are the next two banks in the ranking. VPBank recorded pre-tax profit of VND 19,836 billion, up 69% over the same period. MB also recorded strong growth in the past 9 months with pre-tax profit increasing by 53% over the same period, reaching VND 18,192 billion.

BIDV and VietinBank, are in the 5th and 6th positions in the ranking. BIDV has quite strong profit growth (up 72% over the same period) and reached VND 17,006 billion. VietinBank recorded a pre-tax profit of VND 15,764 billion, up 13% over the same period.

Other banks in the top 10 are ACB, MSB, SHB, HDBank and VIB.

In terms of growth, Eximbank is the bank with the fastest growth in profit with an increase of 229%, reaching VND 3,181 billion. In the first 9 months of the year, the bank's business activities recorded strong growth.

Credit activities brought Eximbank VND 4,154 billion in 9 months, an increase of nearly 64% over the same period last year. Net profit from services and foreign exchange trading also increased by 11.7% and 32.4% respectively over the same period. Investment securities activities brought the bank a profit of VND 114 billion after 9 months, an increase of nearly 55% over the same period. Other business activities and income from capital contribution and share purchase also increased dramatically during the period.

On the other hand, some banks recorded a decrease in pre-tax profit such as OCB (down 10%), Kienlongbank (down 42%), BaoVietBank (down 21%).

Among the 28 listed banks, NCB is the only bank that recorded a loss in the first 9 months of 2022. The bank reported a loss of VND 180 billion while in the same period last year, it had a pre-tax profit of VND 206 billion.

Profit before tax of banks in the first 9 months of the year

Vietnamcredit Bank Profit before tax

Source: Vietnambiz

Compiled by VietnamCredit

 

Categories
Banking & Finance

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