VietinBank’s Q3 2025 Financial Highlights
According to the Q3 2025 financial report, Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank, stock code: CTG) recorded pre-tax profits of VND 10,614 billion, a remarkable 62% increase compared to the same period in 2024. For the first nine months of the year, the bank’s after-tax profit reached VND 29,535 billion, marking a 51.4% surge—the highest growth rate among state-owned banks.
This marks the second consecutive quarter VietinBank has surpassed the VND 10,000 billion profit milestone. The bank maintains its position as the industry’s second-highest profit earner, trailing only Vietcombank (VND 11,239 billion).
In Q3, net interest income rose by 10.3% year-on-year to VND 17,176 billion, remaining the largest contributor to VietinBank’s total profits. This growth stems from robust credit expansion, with customer loan balances increasing by 15.6%—outpacing the industry average. The bank’s strategic shift toward retail and small-to-medium enterprise (SME) lending has also bolstered its yield on earning assets.
Net income from service activities declined by 11.9% to VND 1,587 billion, while net foreign exchange earnings dropped by over 10% to VND 546 billion.
However, the securities segment witnessed extraordinary growth. VietinBank reported VND 216 billion in trading securities profits, a 12-fold increase from Q3 2024 (up 1,216.4%). Investment securities profits also rebounded to VND 14 billion, a significant improvement from the VND 202 billion loss in the same period last year.
Other income remained substantial at VND 2,831 billion, despite a 29% year-on-year decline, primarily driven by recoveries from previously written-off debts and collateral liquidation.
A key driver of VietinBank’s profit surge was its disciplined cost management. Total operating expenses in Q3 decreased by 1.2% to VND 6,022 billion, while total operating income grew by 2.7%. This led to a further improvement in the cost-to-income ratio (CIR).
Notably, credit risk provisioning costs plummeted by 36.7% year-on-year to VND 3,867 billion, reflecting enhanced asset quality and effective non-performing loan (NPL) recovery efforts. This reduction was pivotal in driving pre-tax profits up by nearly 62% to VND 10,614 billion.
As of September 30, 2025, VietinBank’s total assets reached VND 2,760 trillion, a 15.8% increase year-to-date. Customer loan balances grew by 15.6% to VND 1,990 trillion, while customer deposits rose by 10.5% to VND 1,780 trillion.
By the end of September, the bank’s NPL coverage ratio stood at 176.5%, up from 171.7% at the end of 2024. The NPL ratio also improved, dropping from 1.24% at the beginning of the year to 1.09%.
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