Profits of many commercial banks this year will hit the highest levels since 2012 thanks to rising capital demand, experts have forecast.


Customers and staff at an An Binh Bank (ABBank) branch in Thai Binh province (Photo: VNA)

Financial reports from banks showed that although two months still remain until the end of the year, many banks have already met profit targets set for the whole of 2017.

According to the Orient Commercial Bank (OCB), it completed its whole year profit plan within the first nine months, with pre-tax profit of 789 billion VND (34.75 million USD) and completion rate of 101 percent.

As of September 30, 2017, OCB had total assets of 70.87 trillion VND, accomplishing 83 percent of the year’s plan. Total mobilisation was nearly 56.34 trillion VND, achieving 85 percent of the plan; outstanding loans were 46.84 trillion VND, fulfilling 99 percent of the plan; and non-performing loan (NPL) ratio was controlled at less than 2 percent.

Tien Phong Commercial joint Stock Bank (TPBank) also announced its financial statement for the first three quarters of 2017, with nine-month accumulated pre-tax profit of 807 billion VND, exceeding the whole year’s plan of 780 billion VND.

As of September 30, 2017, TPBank’s total assets were 114.5 trillion VND, up 28 percent year-on-year; outstanding loans were over 67 trillion VND, equal to 97.8 percent of the year’s plan and growing nearly 20 percent; capital mobilisation improved nearly 21 percent from the beginning of the year, hitting nearly 95 percent of the year plan; and NPL ratio was less than 0.8 percent.

An Binh Bank (ABBank) also posted its business results and became the next bank to earn profit matching the whole year’s target in just nine months.

Specifically, in January-September 2017, ABBank attained pre-tax profit of 429 billion VND, up 122 percent year-on-year, and completed 132 percent of the nine-month plan, equal to 95 percent of 2017’s target.

Prior to the above mentioned banks, the market also saw an unexpected profit increase for HCM City Development Bank (HDBank), which exceeded the whole year’s plan in just nine months.

LienVietPostBank came close to achieving its profit target for the whole year.

The announced business results made it clear that the year 2017 is unique as for the first time since the Government applied an economic stimulus package in 2009-12, Vietnamese commercial banks have witnessed such rapid progress in profit generation.

Experts attributed banks’ high profits to rising capital demand. According to statistics from the State Bank of Vietnam, credit growth in the first nine months of this year rose 11.02 percent against December last year. The increase was much higher than the rates of 10.78 percent and 10.46 percent in the same period in 2015 and 2016.

 

                                  Source: VNA

Related Topics


Rich and Flavorful Honey of Dao Village

Dao Village’s honey – a product certified with a 3-star OCOP (One Commune One Product) rating by Thong Nhat Agricultural Cooperative in Dao Village (Hoa Binh City) – is highly regarded by consumers for its quality, richness, and variety in packaging. The distinctively sweet taste of Dao Village’s honey leaves a lasting impression on anyone who has tried it.

Lac Thuy district prioritises resources for industrial, handicraft development

In alignment with Project No. 07-DA/TU, issued by the Hoa Binh provincial Party Committee on November 1, 2021, Lac Thuy district has actively promoted investment and supported the sustainable development of its industrial and handicraft sectors during the 2021–2025 period. Alongside this, the district has remained committed to preserving and revitalising traditional craft villages.

Phu Thanh implements organic practices in tea production

Located in the northern part of Lac Thuy district, with a temperate climate and fertile soil, Phu Thanh commune has great potential and advantages in growing tea. The long-standing experience, combined with strict adherence to organic farming practices in the tea gardens, ensures that the dried tea products from Phu Thanh and Lac Thuy as a whole are sold out immediately upon production, providing a stable and prosperous life for the local people.

Hoa Binh works hard to accelerate progress of key projects

Amid efforts to streamline the administrative apparatus, Hoa Binh province has intensified measures to address challenges in land clearance, resettlement support, and infrastructure investment, aiming to speed up the progress of key projects.

Hoa Binh achieves record-breaking economic growth in Q1

Hoa Binh province has posted an unprecedented economic growth rate of 12.76% in the first quarter of 2025, marking its highest quarterly performance to date and positioning it as the second fastest-growing locality in the country, trailing only Bac Giang province.

Hoa Binh focuses on building strong OCOP brands for sustainable growth

Under current regulations, products in the One Commune – One Product (OCOP) programme that are rated three stars or higher must undergo re-evaluation every three months. However, in reality, some of these products fail to consistently meet the required standards, raising concerns about the sustainability of their OCOP certification. This underscores the urgent need for producers to enhance product quality and gradually develop their OCOP products into strong, marketable brands.