Vietbank’s second-quarter interest income witnessed a 15% decline compared to the same period last year, settling at just over VND 687 billion.
Conversely, non-interest income sources displayed robust growth. Service income rose by 15% to over VND 34 billion. Foreign exchange trading income doubled from the previous year, reaching nearly VND 31 billion. Despite constituting a minor portion of the revenue, investment securities income amounted to nearly VND 10 billion, a significant surge from the VND 958 million recorded in the same period last year; other operating income stood at VND 802 billion, up from VND 427 million.
Operating expenses climbed by 6% to VND 403 billion. Consequently, the bank’s net income from business activities dipped by 25%, settling at VND 360 billion. During this quarter, Vietbank also reduced its credit risk provision expenses by 34%, allocating only VND 94 billion. Thus, pre-tax profit dipped by 21%, amounting to nearly VND 266 billion.
Accumulated with the positive results from the first quarter, the six-month cumulative pre-tax profit as of June 30, 2025, witnessed a 25% increase compared to the same period last year, totaling over VND 514 billion.
In relation to the target of VND 1,750 billion in pre-tax profit for the full year of 2025, Vietbank has accomplished 29% of the plan in the first two quarters.
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VBB’s Business Results for Q2 and the First Half of 2025. Unit: VND billion
Source: VietstockFinance
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As of the end of the second quarter, Vietbank’s total assets increased by 10% from the beginning of the year to VND 178,671 billion. Loans to customers rose by 9% to VND 102,447 billion, while customer deposits climbed by 10% to VND 104,208 billion.
The lone bright spot for Vietbank was perhaps the quality of its loan portfolio, with total non-performing loans as of June 30, 2025, remaining nearly unchanged from the beginning of the year at VND 2,568 billion. Substandard loans decreased, leading to a decline in the non-performing loan ratio from 2.75% at the beginning of the year to 2.51%.
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VBB’s Loan Quality as of June 30, 2025. Unit: VND billion
Source: VietstockFinance
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Han Dong
– 08:44, August 4, 2025
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