'Big 4' banks report nearly $1 bln profit in 2022
Three of the biggest Vietnamese lenders BIDV, VietinBank, and Agribank reported a profit of nearly $1 billion in 2022, while Vietcombank earned over $1 billion.
Vietcombank's unconsolidated pre-tax profit was VND36,774 billion ($1.56 billion) in 2022, exceeding its target by 19% and up 39% year-on-year.
Its non-interest income was up 9.2% compared to 2021, exceeding its target by 8.7%, according to a report released at the bank's year review meeting. Net income from foreign currency trading grew 31.7%, exceeding its plan by 24%.
Credit growth exceeded VND1,150 trillion ($49.04 billion) in the year, up 19% compared to the end of 2021. Of this, wholesale credit was up 18.5%, and retail credit growth, 19.4% year-on-year. The bank's bad debt ratio remained at 0.67%.

Staff counts Vietnamese dong at a local bank. Photo by The Investor/Trong Hieu.
BIDV reported a consolidated pre-tax profit of VND23,190 billion ($989 million) in 2022, up 70% year-on-year and exceeding its plan by 13%.
At the end of 2022, BIDV's total assets reached more than VND2,080 trillion ($88.74 billion), up nearly 21% compared to the beginning of the year, maintaining its position as joint stock commercial bank with the largest total assets in Vietnam.
The bank's total mobilized capital reached VND1,950 billion ($83.15 billion), up 21.1% compared to the beginning of the year. Of this, mobilization of capital from organizations and individuals reached VND1,620 trillion ($69.08 billion), up 8.8% and accounting for nearly 13.6% of the banking industry's deposit market share. Its bad debt ratio was 0.9%.
Another "Big 4", VietinBank's unconsolidated pre-tax profit was VND20,500 billion ($874 million) last year, meeting its target, while the bad debt ratio was less than 1.2%.
The bank's operating cost to operating income ratio (CIR) was below 30%, among the lowest in the country's banking industry. In 2022, the lender controlled operating expenses by devoting resources to direct business activities, practicing thrift and fighting waste.
VietinBank is the country's second largest creditor by assets after BIDV. Like BIDV and Vietcombank, it has the state as majority shareholder.
For Agribank, according to deputy general director Nguyen Thi Phuong, the wholly state-owned bank exceeded its profit target of VND20,000 billion ($853.2 million) assigned by the Ministry of Finance and the State Bank in 2022. Its profit increased by about 40% year-on-year.
At an early year conference, Pham Duc An, chairman of Agribank said that the bank no longer ensures the minimum capital adequacy ratio for credit growth, due to the barrier of charter capital scale. Credit growth of the bank in 2022 was also low compared to the level of the whole system.
Therefore, An proposed the government advance an amount of VND6,753 billion ($288.08 million) for its chartered capital expansion. "This is very urgent to ensure the minimum capital adequacy ratio for credit growth right from the beginning of 2023," he said.
Can Van Luc, chief economist at BIDV, said that the financial statements of 27 listed banks show that banking profits grew well in the first nine months of 2022, with total pre-tax profit reaching VND192.5 trillion ($8.21 billion), up 39% year-on-year. Of these, seven banks achieved a profit of over VND10 trillion ($426.59 million), and some had a growth rate of more than 50% year-on-year.
By September 30, 2022, the 27 banks accounted for 70% of the credit institution system's total assets, 71% of outstanding loans, and 68% of customer deposits.
However, it should be noted that, despite the good growth rate, many banks' profit growth partly depends on reducing credit risk provisions.
Notably, representatives of some banks said their profits in the fourth quarter of 2022 were flat due to limited credit room, surging deposit interest rates and the pressure of provisioning in the last quarter.
- Read More
Vietnam’s army-backed construction firm proposes 14 offshore wind power projects
Lung Lo Construction Corporation (LLC), under the Ministry of National Defense, has submitted investment proposals for 14 offshore wind power projects with a combined capacity of 9,000 MW.
Energy - Thu, August 7, 2025 | 5:07 pm GMT+7
Vietnam's agri major Hoang Anh Gia Lai fined for bond information disclosure failure
Vietnam's agri major Hoang Anh Gia Lai JSC has been fined VND92.5 million ($3,528) for failing to disclose bond-related information as required by law.
Companies - Thu, August 7, 2025 | 4:31 pm GMT+7
Northern Vietnam province accelerates $2.2 bln LNG-to-power project
Quang Ninh province will hand over 4.9 hectares of reclaimed land to the Quang Ninh LNG-fuelled power plant project before August 11, local authorities stated at a meeting on Wednesday.
Energy - Thu, August 7, 2025 | 4:17 pm GMT+7
Vietnam's seafood firms ride profit wave ahead of US tariff hike
Vietnam’s seafood companies reported surging profits in Q2/2025, driven by importers ramping up purchases ahead of new U.S. reciprocal tariffs.
Economy - Thu, August 7, 2025 | 2:21 pm GMT+7
Le Anh Tuan appointed new CEO of Dragon Capital Vietfund Management JSC
Dragon Capital Group, Vietnam's largest asset manager, has appointed Le Anh Tuan as CEO of its arm Dragon Capital Vietfund Management Joint Stock Company (DCVFM), starting from October 1, 2025.
Companies - Thu, August 7, 2025 | 2:01 pm GMT+7
Indonesia, Malaysia, Thailand expand local currency transaction network
Bank Indonesia, Bank Negara Malaysia, and Bank of Thailand have added new Appointed Cross Currency Dealer (ACCD) participating banks to broaden services for bilateral transactions in local currencies across the three nations, Bank Indonesia said in a statement on Tuesday.
Southeast Asia - Thu, August 7, 2025 | 12:48 pm GMT+7
ASEAN to sign MoU on regional power grid implementation
ASEAN member states are set to sign an MoU on the implementation of the ASEAN Power Grid during the bloc’s Energy Ministers’ Meeting this October.
Southeast Asia - Thu, August 7, 2025 | 12:43 pm GMT+7
Vietnam overtakes Thailand to become world's second-largest rice exporter
Vietnam has outranked Thailand as the world’s second-largest rice exporter in the first half of 2025, Thai PBS reported on August 3, citing the Thai Rice Exporters Association.
Companies - Thu, August 7, 2025 | 12:41 pm GMT+7
Vietnam posts trade surplus of $10.18 bln in 7 months
Vietnam’s export earnings grew by 14.8% to $262.44 billion in the first seven months of this year, while its import turnover rose by 17.9% to $252.26 billion, resulting in a trade surplus of $10.18 billion.
Economy - Thu, August 7, 2025 | 12:19 pm GMT+7
Malaysia pledges big purchases, investments with US
Malaysia has agreed to buy and invest over $240 billion (MYR1.02 trillion) in the U.S. to help reduce the trade gap between the two countries.
Southeast Asia - Thu, August 7, 2025 | 12:08 pm GMT+7
Vietnam's leading property developer Novaland to issue 152 mln shares to settle $229 mln debt
Novaland, a major real estate developer in Vietnam, plans to issue nearly 152 million new shares to swap more than VND6 trillion ($228.8 million) worth of bond principal.
Companies - Thu, August 7, 2025 | 10:11 am GMT+7
Vietnam's FDI capital disbursement hits five-year record high despite US tariff turmoil
Disbursed foreign direct investment (FDI) capital in Vietnam reached $13.6 billion in Jan-July, up 8.4% year-on-year, despite U.S. tariff concerns.
Economy - Thu, August 7, 2025 | 9:57 am GMT+7
Malaysia steps up efforts to explore nuclear energy potential
Malaysia’s Minister of Science, Technology and Innovation Chang Lih Kang on Wednesday reaffirmed his ministry’s commitment to enhancing cooperation with the Ministry of Energy Transition and Water Transformation (PETRA) in exploring the potential of nuclear energy.
Southeast Asia - Thu, August 7, 2025 | 8:10 am GMT+7
Indonesia's economy grows faster than expected
Indonesia's economy expanded by 5.12% year-on-year in Q2/2025, up from 4.87% in the previous quarter, exceeding the forecasts of many economic organizations, which had previously projected a rate of less than 5%, according to Statistics Indonesia (BPS).
Southeast Asia - Thu, August 7, 2025 | 8:07 am GMT+7
Philippine energy group eyes investment in Vietnam’s power sector
AboitizPower wants to invest in Vietnam’s electricity industry, especially in transmission infrastructure, said Danel Aboitiz, executive director of the corporation.
Energy - Wed, August 6, 2025 | 11:11 pm GMT+7
Vietnam seeks 8.3-8.5% economic expansion for 2025
The Government has requested the State Bank of Vietnam to proactively adjust the credit growth aim for this year in line with a GDP expansion target of 8.3-8.5%.
Economy - Wed, August 6, 2025 | 10:41 pm GMT+7
- Consulting
-
Navigating tariff shocks: Vietnam’s path forward through diversification
-
Southeast Asia IPO performance in Jan-June
-
Vietnam's fund management industry has chance to make breakthrough development: exec
-
Vietnam infrastructure spending surges 40%
-
Vietnam needs two-pronged policy approach to mitigate impact of rising oil prices: RMIT experts
-
Proactively managing risk in volatile times