“Billions Contributed to the National Coffers: A Testament to the Banks’ Steady and Sustainable Growth”

CafeF has just released the PRIVATE 100 list, recognizing the top private enterprises contributing to Vietnam’s state budget. This initiative aims to acknowledge the crucial role of the private sector in the economy and honor their spirit of serving society.

The banking industry is well-represented in the list, with 17 institutions in the top 100, contributing a total of nearly VND 42,000 billion. Notably, the top 10 private banks have paid over VND 36,800 billion, an increase of more than VND 10,700 billion compared to 2022. Some banks have even doubled their contributions from the previous year, amounting to thousands of billions.

As one of the leading private banks, SHB has made a significant contribution of nearly VND 3,100 billion in 2023, 3.7 times higher than in 2022, marking a historical high for the bank. Cumulatively, from 2021 to 2023, SHB has contributed more than VND 5,500 billion to the state budget, equivalent to one-fifth of its pre-tax profit during this period.

SHB, being one of the five largest private banks in the system, has made considerable contributions to the national budget over the years. This reflects the bank’s commitment to fulfilling its financial obligations to the country.

Along with stable and efficient business growth, SHB has also taken the lead in participating in economic development and social welfare programs. These contributions not only demonstrate SHB’s responsibility but also generate significant resources to promote the country’s sustainable development.

LPBank, with its consistent growth, has steadily increased its budget contributions year after year. In 2023 alone, it contributed nearly VND 1,900 billion to the state budget, bringing its three-year cumulative contribution to nearly VND 4,500 billion.

Over its journey of more than 16 years, LPBank has consistently affirmed its reputation and position as one of the 14 most important Vietnamese banks in the system and among the top 500 most valuable banks globally. In addition to its annual budget contributions, LPBank also supports the sustainable growth of the Vietnamese economy by providing credit to meet the capital needs of individuals and businesses, thereby generating stable long-term revenue for the state budget.

OCB, by delivering high-quality banking services and continuously expanding its network, has also witnessed a gradual increase in its budget contributions, in line with its expanding business performance. In 2023, OCB’s budget contribution exceeded VND 1,100 billion, 2.5 times higher than in 2022. Previously, OCB had also been consistently ranked among the top tax-paying enterprises by the General Department of Taxation.

These achievements clearly demonstrate OCB’s adherence to business principles, compliance with Vietnamese laws, and a particular focus on tax and fee regulations. This serves as a guiding star for the bank’s activities, aiming for effective, stable, sustainable, and transparent growth.

Vietbank, ranked among the private banks contributing over VND 100 billion to the state budget, paid VND 174 billion in 2023. Its budget contribution ratio relative to profit size is among the highest in the PRIVATE 100 list.

This accomplishment reflects not only the efforts of Vietbank’s leadership and staff but also their ability to adapt creatively to market challenges. As a bank in its growth phase, accelerating and expanding its scale, Vietbank is committed not only to profit growth but also to social responsibility through charitable activities, community support, and sustainable development initiatives.

MB, alongside the private sector, has continually strived to contribute positively to the national budget, guided by its mission of “For the country’s development and the benefit of customers.” In 2023, MB’s budget contribution surpassed VND 7,500 billion, a 65% increase from 2022. Moreover, in the first half of 2024, its contribution reached nearly VND 5,900 billion.

Through its efficient business operations, MB optimizes returns for its shareholders while embodying the spirit and responsibility of a soldier serving the nation. MB’s budget contributions have strengthened the country’s financial resources and contributed to infrastructure development, education, and improved living standards for its citizens.

Beyond fulfilling its financial obligations, MB proactively engages in and sponsors social welfare programs and invests in projects of national significance. These endeavors not only bolster the economy but also demonstrate MB’s dedication to building a prosperous and sustainable Vietnam.

Budget contribution is a fundamental and vital responsibility of banks, showcasing their legal, social, and developmental commitments. It underscores the importance of banks in fostering economic and social stability and sustainability. By upholding transparency and integrity in budget contributions, banks not only build trust with customers and the community but also solidify their reputation with shareholders. The budget contributions are channeled into critical areas such as education, healthcare, infrastructure, and national defense, ultimately driving the country’s economic and social progress.