HSBC Vietnam records $157 mln post-tax profit in 2022
HSBC Bank (Vietnam) Ltd. posted a post-tax profit of VND3.7 trillion ($157 million) in 2022, tripling year-on-year, according to the bank’s financial statements.

An HSBC office in Ho Chi Minh City. Photo courtesy of HSBC.
The lender doubled its net interest income to VND5.02 trillion ($213.4 million) after a year.
HSBC Vietnam’s loans to customers reached VND62.52 trillion ($2.66 billion) in 2022, up 15.35% year-on-year. Its deposits from customers grew 20.13% to VND175.52 trillion ($7.46 billion)
Overall, the bank’s total assets went up 21.33% year-on-year to VND198.61 trillion ($8.45 billion) in the year, while its total liabilities rose 21.25% to VND182.64 trillion ($7.77 billion) and its equity increased 22.27% to VND15.98 trillion ($679.52 million). As of the end of 2022, the bank’s cash on hand was VND502.59 billion ($21.38 million).
The lender’s total received deposits as of end-2022 were VND6,218 trillion ($264.44 billion), while its total disbursed loans and total collected loans were VND202.17 trillion ($8.6 billion) and VND192.29 trillion ($8.18 billion), respectively.
Deutsche Bank recorded a pre-tax profit of 21 million euros ($22.6 million) on net revenue of 34 million euros ($36.6 million) from its Vietnam operations in 2022, according to the bank’s annual report. On a global scale, in 2022, the German bank posted a pre-tax profit of 5.6 billion euros ($6.03 billion), the highest for 15 years, on net revenue of 27.2 billion euros ($29.29 billion), up 65% and 7% year-on-year, respectively.
Singapore-headquartered United Overseas Bank (UOB) posted a core operating profit of S$17 million ($12.75 million) from activities in Vietnam in 2022, quadrupling that in 2021 of S$4 million. According to the bank’s report for 2022, UOB recorded its gross loans in Vietnam at S$2 billion ($1.5 billion) and total funding of S$1 billion ($0.75 billion).
Shinhan Bank Vietnam, wholly owned by South Korea’s Shinhan Bank, earned a post-tax profit of VND3.71 trillion ($158.03 million) last year, up 46.6% year-on-year, according to the bank’s audited financial statement.
The lender made a net interest income of VND6.52 trillion ($278 million), up 30.4% year-on-year. It posted a net fee and commission income of VND454.12 billion ($19.37 million), while the net gain from dealing in foreign currencies was VND845.29 billion ($36.05 million).
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