According to Moody, the prospect of Vietnamese banks in 2020 is positive, due to the country’s strong economic development.
1. Vietcombank
Vietcombank was established and officially put into operation on April 1, 1963. Vietcombank is currently one of the largest commercial banks in Vietnam. Vietcombank currently has more than 560 branches/transaction offices / representative offices / domestic and foreign member units in 176 countries and territories around the world.
Last quarter, Vietcombank announced strong business results. Gross profit reached VND 6.31 trillion, up 72% over the same period last year. In the first 9 months, it is VND 17.61 trillion, up by 50.8%.
- Gross profit in 2019 is estimated at VND 23,165 billion (an increase of 26.8% compared to last year)
- SSI predicts that gross profit in 2020 could be VND 26.8 trillion
2. VPBank
Vietnam Prosperity Joint Stock Commercial Bank (VPBank) was established on August 12, 1993. After more than 26 years of operation, VPBank has expanded its network to 227 transaction points with a staff of nearly 27,000 employees.
Total operating income in the first 6 months of 2019 reached VND 16,832 billion. In the third quarter of 2019 with a gross profit of VND 2,856 billion (up 63.3%) in Q3 / 2019 and VND 7,199 billion in 9 months (up 17.5%).
- Gross profit in 2019 is estimated at VND 9,612 billion (an increase of 5% compared to 2018)
- SSI predicts that gross profit in 2020 could be VND 13,414 billion (up 39% compared to 2019).
3. ACB
Asia Commercial Joint Stock Bank, stand for ACB, officially came into operation on June 4, 1993. Consisting of 280 branches and transaction offices in developed economic regions across the country and more than 9,000 employees.
In the third quarter of 2019, the bank recorded a gross profit of VND 1.939 trillion, up 19.3% over the same period last year. In the first 9 months, the revenue is VND 5,561 billion (up 16%), fulfilling 76% of the year plan.
- Gross profit in 2019 is estimated at VND 7,581 billion (an increase of 18.7% compared to 2018)
- SSI predicts that gross profit in 2020 could be VND 8,794 billion (up 16% compared to 2019).
4. TPBank
TienPhong Commercial Joint Stock Bank (referred to as “TPBank” for short) was established on May 5, 2008. TPBank has a network of 63 transaction points, 72 ATMs and 48 LiveBank automatic transaction points. In addition, it is associated with more than 300 banks worldwide.
In the third quarter of 2019, with a strong growth momentum, gross profit increased by 33.1% to VND 784 billion. This is because interest income (NII) and non-interest income (non-NII) increased by 28.5% and 93.4% respectively while operating costs almost did not increase.
- Gross profit in 2019 is estimated at VND 3.2 trillion (an increase of 41.8% compared to 2018)
- SSI predicts that gross profit in 2020 could be VND 4,210 billion (up 17.7% compared to 2019).
5. VIB
Vietnam Joint Stock Commercial Bank (Vietnam Joint Stock Commercial Bank), abbreviated to International Bank (VIB), is one of the leading joint-stock commercial banks in Vietnam. VIB currently has more than 5,372 employees, an increase of 234 times compared to the first time, serving nearly 2 million customers in 163 branches and transaction offices in 27 key provinces/cities nationwide.
In the third quarter of 2019, VIB recorded a gross profit of VND 1,095 billion, up to 92% compared to the same period last year. Accumulated 9 months reached 2,915 billion (up 69%), completing 86% of the plan year.
- Gross profit in 2019 is estimated at VND 4,023 billion (an increase of 46.8% compared to 2018)
- SSI predicts that gross profit in 2020 could be VND 4,849 billion (up 21% compared to 2019).
Source of ndh.vn
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