"Big brother" Vietcombank continues to hold the top position in terms of profit in 2024 with pre-tax profit reaching over 41,000 billion VND, a slight increase of 1.3% compared to 2023.

VietinBank and BIDV are both in the Top 3 when achieving similar pre-tax profits of parent banks, reaching VND30,360 billion and VND30,006 billion respectively. Of which, VietinBank took the second place from BIDV after achieving a profit growth of up to 25%, while BIDV achieved a profit growth of 12% compared to the same period.

4th place belongs to MB with 27,639 billion VND in pre-tax profit, up 12% compared to 2023.

Agribank is in the Top 5. This bank has not officially announced its financial report for the fourth quarter of 2024, but according to preliminary information, pre-tax profit growth in 2024 is 8%. Agribank's pre-tax profit in 2024 is VND 27,567 billion, equivalent to MB's profit.

Techcombank's pre-tax profit was also close to 1 billion USD, reaching 24,454 billion VND, up 29.51%, ranking 6th among banks with the highest profit last year.

If we only count the private banking sector, Techcombank continues to hold the number 1 position in terms of profit.

Next is ACB Bank with 20,119 billion VND in pre-tax profit, a slight increase of 3.5%.

VPBank achieved profit growth of up to 35.57%, equivalent to 18,260 billion VND.

HDBank is also on this list with a profit in 2024 of VND 15,698 billion, an increase of more than 23% over the previous year.

Sacombank's pre-tax profit in 2024 also grew rapidly, up to 35.28% after reporting a profit of VND12,558 billion.

Notably, LPBank reached the profit milestone of over VND10,000 billion for the first time when reporting a profit of up to VND12,168 billion. The bank chaired by Mr. Nguyen Duc Thuy is also the only “star” with a growth rate of up to 72%.

LPBank said the reason was due to a sharp increase in net interest income in the fourth quarter of 2024 after the bank focused on exploiting network advantages, diversifying customers, and boosting credit growth right from the first months of the year. In addition, controlling credit quality and promoting comprehensive digital transformation also helped reduce operating costs compared to the same period.

The remaining bank in the “10,000 billion club” is SHB of Chairman Do Quang Hien. This bank achieved a profit of up to 11,365 billion VND, up 24%. This is also SHB’s best business result ever.

BANK TO ACHIEVE PRE-BACK PROFIT IN 2024 OF OVER 10,000 BILLION VND
STT BANK Profit after tax (VND billion) INCREASED FROM 2023
1 VIETCOMBANK 41,000 1.34%
2 VIETINBANK 30,360 25.48%
3 BIDV 30,006 12.35%
4 MB 27,639 11.95%
5 AGRIBANK 27,567 8%
6 TECHCOMBANK 24,454 29.51%
7 ACB 20,118 3.52%
8 VPBANK 18,260 35.57%
9 HDBANK 15,698 23.26%
10 SACOMBANK 12,558 35.28%
11 LPBANK 12,168 72.85%
12 SHB 11,365 24.09%

VIB is the closest bank to this group when its profit in 2024 reaches over VND8,900 billion.

The individual financial reports of the fourth quarter of the banks show that BVBank is the bank with the highest profit growth rate in terms of percentage. Specifically, BVBank's profit growth is up to 448%, reaching more than VND 390 billion in profit in 2024 (parent bank). This figure far exceeds the VND 200 billion plan approved by the 2024 Shareholders' Meeting.

In the fourth quarter of 2024 alone, BVBank achieved pre-tax profit of VND209 billion. BVBank explained that the reason for the high increase in profit in the fourth quarter compared to the previous quarter was due to a sharp increase in lending activities (contributing nearly 40% of the year-on-year increase), accelerated debt collection with a collection rate nearly 3 times the average of previous quarters, strong improvement in interest income and reduction in provisioning costs.

ABBank recorded VND 809 billion in profit in 2024, so it is also in the leading group in terms of growth rate of up to 57%.

The remaining two banks in the Top 5 are Kienlong Bank (VND 1,109 billion) and Nam A Bank (VND 4,543 billion), respectively achieving increases of 56% and 37% compared to 2023.

In terms of absolute profit growth, VietinBank leads with an increase of more than VND 6,166 billion. Techcombank ranks second with an increase of VND 5,574 billion in profit compared to 2023. LPBank ranks third on the list with an increase of VND 5,129 billion in profit. VPBank and BIDV rank fourth and fifth, respectively, with an increase of VND 4,792 billion and VND 3,300 billion in profit, respectively.

Among listed banks, Eximbank is the only bank that has not disclosed information about its business results as of before Lunar New Year 2025.