Twelve out of the 25 commercial banks in Vietnam have announced half-year financial reports achieved more than 50 per cent of the annual profit target within the first half of this year.
They are Vietcombank, VIB, TPBank, Sacombank, VietinBank, ACB, SHB, LienVietPostBank, NamABank, SeABank, VietBank, and Saigonbank. VOV reports.
In total, the 25 banks raked in a combined VND53.6 trillion (US$2.30 billion) in pre-tax profits during the six-month period, increasing by 18 per cent on year.
Notably, Vietcombank saw its six-month pre-tax profits jump by 41 per cent to reach VND11.303 trillion (US$486.02 million), while Sacombank earned VND1.461 trillion (US$68.82 million) in pre-tax profits, a sharp rise of 47 per cent.
According to VOV, eighteen banks enjoyed positive profits during the reviewed period. Of which, Maritime Bank (MSB) beat the highest profit growth with a staggering 192 per cent.
SeABank enjoyed VND439 billion (US$18.87 million) in profits, an annual rise of 69 per cent, while both VIB and TPBank recorded the profit growth of 58 per cent to reach VND1.82 trillion (US$78.26 million) and VND1.62 trillion (US$69.66 million), respectively.
MBBank, Kienlongbank, and Techcombank reached nearly half of their annual profit target.
Despite this, experts have put high hopes that these banks could still obtain and even exceed their full-year profit target.