Billion-Dollar Profits Announced by Major Banks

In a recent directive aimed at bolstering key tasks and solutions to achieve the 2026 economic growth targets, the Prime Minister has instructed the State Bank of Vietnam (SBV) to direct credit institutions to channel capital into production, business, and priority sectors that drive growth.

Numbers That Speak Volumes

As of January 26, among the commercial banks that have announced their 2025 financial results, Vietcombank leads in profitability, with pre-tax profits estimated to rise by over 7% compared to the previous year. The bank’s pre-tax profit for 2025 is projected at approximately VND 45 trillion, the highest in its history.

BIDV, the first state-owned commercial bank to disclose its 2025 performance, reported pre-tax profits exceeding VND 36 trillion, significantly surpassing the previous year’s figure of over VND 31 trillion. This profit level exceeds the bank’s initial targets.

VietinBank also announced a robust 37% year-on-year increase in standalone pre-tax profit for 2025, reaching over VND 41 trillion. Several other commercial banks, including MB, Techcombank, and VPBank, have reported pre-tax profits surpassing USD 1 billion (over VND 26.3 trillion), with some even exceeding VND 30 trillion.

Smaller commercial banks have also posted impressive results, with some achieving triple-digit profit growth. For instance, An Binh Bank (ABBank) reported 2025 pre-tax profits of VND 3.522 trillion, a 4.7-fold increase from the previous year and nearly 200% of its annual plan. KienlongBank recorded pre-tax profits of over VND 2.3 trillion for 2025, a 109% increase from 2024. LPBank achieved a record pre-tax profit of VND 14.269 trillion, up 17% year-on-year.

Notably, Techcombank’s fourth-quarter 2025 profit reached VND 9.2 trillion, nearly doubling year-on-year and marking the third consecutive record-breaking quarter. For the full year 2025, the bank achieved a record pre-tax profit of VND 32.5 trillion, an 18.2% increase from the previous year.

Jens Lottner, CEO of Techcombank, attributed the bank’s strong performance to accelerated net interest income, a robust recovery in fee-based income, and efficient cost management. These achievements, in a globally uncertain economic environment, highlight the resilience and scalability of the bank’s business model and the strength of Vietnam’s economy.

Efforts to Maintain Lending Rates

Experts suggest that banks with strong financial performance and high profits will enhance lending capacity, providing more room to stabilize interest rates and support businesses and the economy.

In Directive 01/CT-NHNN on key tasks for the banking sector in 2026, the Governor of the State Bank of Vietnam emphasizes proactive and flexible monetary policy, coordinated with fiscal and other macroeconomic policies. The primary goal is to maintain inflation at around 4.5% in 2026, ensuring macroeconomic stability and sustainable economic growth.

Credit growth for the entire system is projected at approximately 15%, with adjustments based on actual conditions. Previously, Deputy Governor Pham Thanh Ha reported that 2025 credit growth reached 19.1% (around VND 18.58 trillion), higher than the earlier announced 17.87%.

Pham Thanh Ha stated that the State Bank will maintain key interest rates to enable credit institutions to access low-cost capital, thereby supporting the economy. Deposit rates have risen significantly, putting pressure on lending rates. A CEO of a major commercial bank noted that rising deposit rates are a normal economic response to increasing inflation and the need to narrow the gap with USD interest rates, easing pressure on the exchange rate. “In this context, banks’ strong performance will enhance capital supply, better supporting businesses and economic growth,” the CEO added.

Nguyen Hung, CEO of TPBank, highlighted that while capital injection to support the economy will continue, credit growth will remain cautious and selective, focusing on risk management and asset quality. Another trend is the shift in business models, as banks reduce reliance on traditional credit growth and expand into services, digital banking, payments, asset management, and technology-driven financial solutions. This diversification not only broadens revenue streams but also enhances flexibility and efficiency in serving the economy.

Pham Toan Vuong, CEO of Agribank, noted limited room for reducing deposit rates to lower lending rates in 2026. Banks must therefore cut operational costs to reduce lending rates. In 2025, Agribank’s credit balance approached VND 2 trillion, up 14.7%, reflecting effective credit institution management and strong capital absorption in a volatile environment. “In 2026, Agribank will focus on resolving bad debts, system restructuring, technology application, and digital transformation to boost productivity,” Vuong said.