Many commercial banks reported highest first quarter profits in history

According to the results of Vietnam Joint Stock Commercial Bank for Industry and Trade ( VietinBank ), at the end of the first quarter, VietinBank's total assets increased by 3.9% compared to the end of 2024; outstanding credit increased by 4.7%. In addition, capital mobilized from market 1 increased by 3.9%.

The bank's bad debt ratio is controlled at 1.3%, while pre-tax profit increased by about 6% compared to the same period in 2024.

Banks have positive first quarter business results. Photo: VTB

According to Chairman of the Board of Directors of VietinBank Tran Minh Binh, from now until the end of 2025, VietinBank will focus on growing core income, increasing customer engagement, effectively managing resources, and enhancing risk management capacity.

VietinBank also aims to transform all areas of operation, accelerate the digital transformation program, especially digitizing products and services and redesigning business processes, focusing on exploiting the power of data to optimize business operations...

VietinBank strives to increase total assets by 8% - 10%; credit balance according to the growth limit approved by the State Bank. Mobilized capital increases in line with credit growth rate, ensuring liquidity safety indicators. In addition, maintaining the ratio of bad debt/credit balance below 1.8%; complying with operational safety ratios.

As for Loc Phat Commercial Joint Stock Bank ( LPBank ), the highlight in the first quarter business picture is credit growth. Specifically, as of March 31, outstanding customer loans reached VND 352,194 billion, up more than 6.2% compared to the end of 2024, up nearly 15% compared to the same period in 2024.

This figure is significantly higher than the industry average (estimated at 2.5% as of the end of March). In addition, capital mobilization from customers also recorded good growth, reaching VND 293,155 billion, up 3.5% compared to the end of 2024.

The bank's cost-to-income ratio decreased from 30.7% to 28% compared to the same period in 2024, with credit risk provisioning costs reaching VND 198.4 billion, down nearly 8%. LPBank's total operating income reached VND 4,688 billion, up nearly 5%, of which net interest income accounted for the largest proportion at VND 3,282 billion.

Sharing about this result, LPBank General Director Vu Quoc Khanh said that this is a positive start, reflecting the efforts of the entire LPBank system in proactively implementing flexible business solutions, supporting customers to access capital effectively, while optimizing operations and diversifying revenue sources.

With the existing foundation and clear strategy, LPBank will continue to expand and upgrade non-credit services, such as digital banking, credit cards, electronic payments, personal financial management... to diversify revenue sources, effectively manage risks and increase sustainability in business operations.

At Prosperity and Development Joint Stock Commercial Bank (PGBank), at the end of the first quarter, total assets reached VND 74,890 billion, up 25% over the same period (VND 58,763 billion), up 2.5% compared to the end of 2024 (VND 73,015 billion).

Capital mobilization in market 1 reached VND46,717 billion, up 25% over the same period (VND37,244 billion), while outstanding credit reached VND45,347 billion, up 29% over the same period (VND35,186 billion).

PGBank's total operating income grew positively by 34.4%, reaching VND505.7 billion. Net profit from business activities before credit risk provisioning expenses reached VND242.5 billion, a sharp increase of 53.4% ​​over the same period. Pre-tax profit in the first quarter reached VND95.9 billion, completing 13.4% of this year's provisional plan. The bad debt ratio was controlled at 2.09%, continuing to maintain at a safe threshold.

PGBank representative said that the positive results in the first quarter were the result of efforts to build a foundation, strengthen internal strength, develop the team, and at the same time, continue to promote digital transformation projects to increase operational efficiency, reduce costs and contribute to creating momentum for strong development of PGBank.

Also among the banks announcing first quarter results, Viet A Commercial Joint Stock Bank (VietABank) achieved pre-tax profit of VND352.9 billion in the first quarter, up 42.5% over the same period last year. This is also the highest quarterly pre-tax profit in VietABank's history.

In addition, VietABank's total operating income increased slightly by 3.5%, reaching VND665.7 billion, while operating expenses decreased from VND228.2 billion to VND225.3 billion (equivalent to a decrease of 1.3%), leading to an increase in VietABank's net profit this quarter. In addition, the reduction of nearly half of the cost of credit risk provisions also contributed greatly to the bank's overall business results.

As of March 31, VietABank's total assets were VND129,046 billion, up 7.7% over the same period; customer loans reached VND84,910 billion, up 6.3%. Regarding the bank's asset quality, bad debt was VND536 billion, down 50.8% compared to the beginning of the year.

For Southeast Asia Commercial Joint Stock Bank ( SeABank ), the consolidated business results in the first quarter with the bank's pre-tax profit reaching VND 4,350 billion, an increase of nearly 189% over the same period in 2024, the highest quarterly profit in the history of this bank.

SeABank's total operating income reached VND 5,820 billion, an increase of more than 115%, completing 184% of the plan; in which, non-interest income was a bright spot contributing to the proportion of total operating income when it reached VND 3,369 billion, an increase of more than 378%, completing 340% of the plan.

Tien Phong Commercial Joint Stock Bank (TPBank) announced that the bank's pre-tax profit reached more than VND 2,100 billion, equivalent to 26% of the yearly plan. This is the highest first quarter profit in TPBank's history and increased by more than 40% compared to the same period in 2024.

TPBank's total operating income in the first quarter reached nearly VND4,500 billion. Of which, interest income still accounted for the largest proportion, reaching VND3,380 billion. Net income from services continued to be a bright spot, reaching VND910 billion, up 27% compared to the first quarter of 2024, pushing the proportion of service income in total operating income to over 20%, compared to 15% in the same period last year.

In addition, total capital mobilization in the first quarter reached VND337,800 billion, up 7% over the same period, while outstanding debt in market 1 reached more than VND271,500 billion, up 28%.

Customer loans alone reached more than VND 263,100 billion, an increase of 30% over the same period in 2024, credit growth reached 3.75%, higher than the industry average (2.5%).

Source: https://hanoimoi.vn/nhieu-ngan-hang-thuong-mai-bao-lai-quy-i-cao-nhat-lich-su-699824.html