Q2 net profits of Vietnam’s listed companies see strongest growth in 6 quarters
The after-tax profit of listed companies in Vietnam surged by 33.6% year-on-year in Q2/2025, marking the highest growth rate in the past six quarters, according to FiinTrade, a Hanoi-based financial information platform.

The headquarters of Vietcombank in Hanoi. Photo courtesy of the bank.
The strong earnings growth was primarily driven by the non-financial sector, which posted a robust 53.8% increase, significantly outperforming the 9.9% growth seen in Q1, FiinTrade reported.
The figures came from the Q2 financial statements released as of July 31, 2025 by 970 listed companies - representing 97.1% of total market capitalization.
Meanwhile, the financial sector reported a more modest 17.9% growth, largely due to the banking industry's steady profit expansion of 17.5%.
Among the top banks, Vietcombank (VCB), BIDV (BID), and VietinBank (CTG) - three of the Big 4, all posted low net interest income growth amid continued narrowing of net interest margins (NIM) and sluggish credit demand.
However, CTG stood out with an 80.2% surge in net profit, driven by non-interest income and a sharp reduction in loan loss provisions.
Private banks showed mixed performance. Institutions with profit expansion included VPBank (VPB), up 35.6%, Vietnam International Bank (VIB) 23.4%, Sacombank (STB) 32.9%, and Saigon-Hanoi Bank (SHB) 57.8%. Their solid growth was mainly fueled by rising credit.
In contrast, Techcombank (TCB) reported a slight growth of 1.2%, while MBBank (MBB) and LPBank (LPB) suffered respective declines of 1.6% and 1.1%.
The non-financial sector’s profit growth was led by real estate, utilities (electricity), retail, aviation, and several commodity-related industries such as rubber, fertilizers, and mining. On the other hand, earnings fell in the dairy, beer, and sugar industries.
Top 10 most profitable companies in Q2
Seven banks made it into the top 10 most profitable companies across all markets in Q2.
CTG topped the list with a Q2 after-tax profit of VND9.75 trillion ($372.3 million), up over 80% year-on-year. This was supported by a modest 3.3% increase in net interest income, a 766% jump in gains from trading securities (VND213.2 billion), a 99.9% surge in other income (VND2.17 trillion), and a swing to profit from investment securities (VND30.6 billion vs. a loss of VND33.5 billion in Q2/2024). Additionally, CTG’s loan loss provisions fell 62%.
Other top-performing banks included VCB (VND8.84 trillion or $337.53 million), BID (VND6.9 trillion), TCB (VND6.35 trillion), MBB (VND6 trillion), VPB (VND4.94 trillion), and ACB (VND4.88 trillion).
Only three non-financial firms made it into the top 10 for Q2 net profit. They are real estate developer Vinhomes (VHM) with VND8.35 trillion ($318.8 million), PV GAS (GAS) VND4.8 trillion, and steel giant Hoa Phat Group (HPG) VND4.27 trillion.
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