Vietcombank remains the industry’s “champion” in terms of profit. The bank’s pre-tax profit in the first quarter of 2024 reached VND 10,718 billion, down 4% year-on-year.
Techcombank ranked second with a pre-tax profit of VND 7,802 billion, up 39% year-on-year. Thus, Techcombank also outpaced private banks in the market.
The next banks in the Top 5 profits are BIDV (VND 7,390 billion, up 7%), VietinBank (VND 6,210 billion, up 4%), and MB (VND 5,795 billion, down 11%).
The Top 6-Top 10 includes ACB, VPBank, HDBank, SHB, and LPBank. Among the Top 10 banks, except for MB and ACB which recorded a slight decrease in profit year-on-year, the remaining 8 banks all had positive growth.
Of the 28 banks that have announced their business results for the first quarter, most banks have seen a significant increase in profit, with only 8 banks recording a decrease in profit year-on-year.
In the mid-sized, large bank group, LPBank had the highest growth with a profit increase of 84% to VND 2,886 billion. Accordingly, LPBank surpassed a series of banks such as Sacombank, VIB, TPBank to jump into the Top 10 of the industry.
Most small banks saw their profits remain unchanged or declined compared to the first quarter of 2023, such as ABBank down 71%, VietBank down 63%, … Meanwhile, BVBank witnessed impressive growth with profit reaching VND 69 billion, up 165% year-on-year.
