Check out 11 banks with 'plummeting' profits

Accordingly, in the first 9 months of the year, Techcombank's pre-tax profit decreased by 18% compared to the same period in 2022. Last year, Techcombank's pre-tax profit reached VND 20,822 billion, but this year it was only VND 17,115 billion.

However, this is still the bank with the "biggest" pre-tax profit among the banks that have announced business results.

Techcombank's pre-tax profit decreased but its profit is still "huge". (Photo: TCB)

VPBank also saw a sharp decline in pre-tax profit. In the first 9 months of 2023, the bank's pre-tax profit decreased by 58% compared to the same period last year, reaching VND8,279 billion. Meanwhile, in 2022, VPBank's pre-tax profit in the first 9 months of the year reached VND19,837 billion.

The next two banks also had pre-tax profits decrease by thousands of billions of VND compared to the same period last year, namely LPBank and TPBank.

Specifically, LPBank's pre-tax profit in the first 9 months of 2023 reached VND 3,687 billion, down VND 1,135 billion (down 23.5%) compared to the same period last year. Meanwhile, TPBank's pre-tax profit in the first 9 months of this year reached VND 4,959 billion, down VND 967 billion (down 16%) compared to the same period in 2022.

Many banks' profits have "plummeted" compared to the same period last year, and even continued to lose money. (Photo: NCB)

The remaining 7 banks with “plummeting” profits are mainly small banks with the sharpest “plummet” being BVBank. BVBank’s pre-tax profit in the first 9 months of 2023 was 61 billion VND, down more than 85% compared to the same period last year (423 billion VND).

Banks such as Bac A Bank, Viet A Bank, PGBank, BaoVietBank, ABBank had pre-tax profits in the first 9 months of the year decrease from 7% - 63% compared to the same period in 2022.

At the bottom of the list and making losses is NCB Bank. In the first 9 months of 2023, NCB Bank lost 231 billion VND, in the same period last year it lost 180 billion VND. This is also the bank with the highest bad debt ratio in the banking industry today with a bad debt ratio of up to 26%.

DAI VIET

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