Though not all financial statements have been released, several Vietnamese banks have already revealed their second-quarter results as of July 19, indicating a strong upward trend in profitability.

The National Citizen Commercial Joint Stock Bank (NCB) was the first to unveil its Q2 performance, reporting an after-tax profit of more than 311 billion VND (approximately 12.2 million USD).

This brought the bank’s total after-tax profit for the first half of 2025 to 462 billion VND (around 18.1 million USD), a dramatic increase compared to just 6 billion VND in the same period of 2024.

As of June 30, NCB’s total assets were estimated at over 144.1 trillion VND (5.63 billion USD), up 21.6% from the end of 2024 and exceeding the bank’s annual target by 6.3%. Its net interest income for H1 2025 was estimated at 1.26 trillion VND (49.2 million USD), a 155% surge year-on-year.

In 2025, NCB aims to raise its charter capital to 19.28 trillion VND (approximately 753 million USD). The capital increase plan has already been approved by the State Bank of Vietnam.

Seventeen professional investors, including some existing shareholders, have registered to participate in the bank’s private stock issuance.

Meanwhile, at the extraordinary general meeting on July 15, KienlongBank’s Chairman Tran Ngoc Minh announced that the bank had achieved over 90% of its annual targets in terms of total assets, mobilized capital, and outstanding credit balance in just six months.

KienlongBank’s pre-tax profit reached 922 billion VND (about 36 million USD), completing 66.8% of its 2025 profit target.

While shareholders previously rejected a proposal to double the charter capital via a 50% stock dividend and share issuance, they have now approved a 60% stock dividend plan.

Upon completion, KienlongBank’s charter capital will rise from 3.65 trillion VND to 5.82 trillion VND (approximately 143 million USD to 228 million USD).

Despite the increase, KienlongBank remains one of the few commercial banks with charter capital under 10 trillion VND.

Among the state-owned commercial banks, Vietcombank Chairman Nguyen Thanh Tung revealed that the bank’s total assets exceeded 2.1 quadrillion VND (around 82.1 billion USD) by mid-year, up 1.8% from the end of 2024.

Its credit growth was over 5%, and its bad debt ratio remained below 1% – the lowest among major credit institutions.

Vietcombank’s bad debt coverage ratio stood at 219%, the highest in the system, and its off-balance-sheet debt recovery reached 1.9 trillion VND (74.3 million USD), up 38% year-on-year.

At VietinBank, Chairman Tran Minh Binh reported impressive H1 performance, with credit balance up 10% and mobilized capital up 9% compared to year-end 2024.

The bank also posted growth in pre-provision operating profit compared to the same period last year.

Agribank CEO Pham Toan Vuong stated that the group’s H1 2025 business results marked the best performance since its 2021–2025 restructuring plan began.

As of June 30, Agribank’s mobilized capital surpassed 2.1 quadrillion VND, up 6.4% from the beginning of the year, with household deposits forming the majority.

Its outstanding loans to the economy reached over 1.85 quadrillion VND (72.4 billion USD), up 7.6% year-to-date.

Of this, over 1.13 quadrillion VND (44.3 billion USD), or more than 61%, was directed to agriculture and rural development.

Vietcombank Securities (VCBS) forecasts that banks with the strongest Q2 profit growth include MB (23%), Sacombank and HDBank (25%), VIB (17%), VietinBank (16%), VPBank (12%), BIDV (12%), and Techcombank (8%).

According to VCBS, the main drivers of banking sector profit growth are credit recovery, improved asset quality, and expansion of non-interest income.

Tuan Nguyen