Techcombank has been recognized as the top-performing private enterprise in Vietnam for 2024, according to the Profit 500 rankings released by Vietnam Report JSC in collaboration with VietNamNet newspaper.
VPBank, which was the first runner-up in last year’s rankings, has now dropped to sixth place.
Vietnam Report, which has consistently published these annual rankings for eight consecutive years, shared that the methodology for the rankings is based on estimated criteria such as pre-tax profits, total revenue estimates, total asset estimates, and the number of employees.
The data is evaluated using Vietnam Report’s independently researched databases and other sources as of December 31 of the previous year.
In 2023, VPBank’s pre-tax profits reached nearly VND 11,000 billion, a decrease of almost half compared to 2022.
Due to VPBank’s drop in rankings, ACB, with pre-tax profits of over VND 20,000 billion, and Vingroup, with VND 13,800 billion (an 8% increase from the previous year), have risen to second and third place, respectively.
Hoa Phat’s pre-tax profits for 2023 stood at VND 7,800 billion, a significant drop from nearly VND 10,000 billion in 2022, causing it to fall out of the Top 10. On the other hand, FPT, with a over 20% increase in pre-tax profits, reaching VND 9,200 billion, has re-entered the Top 10 list of Vietnam’s best-performing private enterprises after a 5-year absence.
Additionally, Vietnam Report also released a list of the Top 500 Most Profitable Enterprises in Vietnam for 2024. With a profit decrease of half, VPBank also fell out of the Top 10 in this category.
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