Several banks have recently announced startling business performance results in the third quarter of 2024 and the first nine months of 2024.

The 19 parent groups and corporations under the Committee for Management of State Capital at Enterprises (CMSC) have earned more than 1.1 quadrillion VND (45 billion USD) in revenue in 2023.

In the third quarter of 2023, a notable variance is anticipated in the profits of commercial banks, with some continuing to experience double-digit growth, while others see a sharp downturn.

Total pre-tax profit of the top 25 largest listed banks in the second quarter of 2023 reached about 61.6 trillion VND (2.6 billion USD), down 3.1% over the same period last year, according to a report of VNDirect Securities Company.

Five banks in Vietnam recorded a pre-tax profit of more than 10 trillion VND (422 million USD) in the first six months of this year, financial statements of the banks showed.

The Vietnam Oil and Gas Group (Petrovietnam) earned 334 trillion VND (14.2 billion USD) in total revenue in the first five months of 2023, 20% higher than the target for the period, statistics show.

Commercial banks will hold annual general meetings of shareholders (AGM) next quarter to map out production and business plans for 2023.

It is critical for State-owned enterprises (SOEs) to strengthen innovations as Vietnam has set the target of having at least 25 SOEs with a market capitalisation of 1 billion USD and more.

Sacombank has been named among the country’s 50 best profitable companies in 2022 for a sixth consecutive year in the annual list compiled by Vietnam Report Joint Stock Company and VietnamNet.

The Petrovietnam Fertiliser and Chemicals Corporation (PVFCCo) enjoyed a revenue of nearly 15 trillion VND (627.7 million USD) and a pre-tax profit of 5.3 trillion VND in the first nine months of this year, two-fold and three-fold increases respectively over those of the same period las year.

The Petrovietnam Gas Joint Stock Corporation (PV GAS) posted a pre-tax profit of 14 trillion VND (nearly 590 million USD) in the first three quarters of 2022, up 61.8% year-on-year.

A majority of credit institutions (CIs) are optimistic about their business performance in Q3 2022, the State Bank of Vietnam (SBV)’s latest survey on business trends of credit institutions showed.

As the aviation and tourism industries have bounced back strongly, the Vietjet Aviation Joint Stock Company kicked off 2022 with great performance, posting a year-on-year surge of 113 percent in pre-tax profit in the first quarter.

Many banks have reported large profits of up to trillions of Vietnamese dong in the first quarter of 2022 thanks to high earnings from services and bancassurance as well as good control of provision costs.

Multi-industry group FPT enjoyed high growth in revenue and pre-tax profit in the first two months of 2022 on account of the growing technology segment.

A majority of credit institutions are optimistic about their business performance in 2022, according to the latest survey by the State Bank of Vietnam (SBV).

The Vietnam Oil and Gas Group (PetroVietnam) reported that it had met its revenue target in 2021 two months ahead of schedule, generating 620.2 trillion VND (over 27.1 billion USD), surpassing the yearly plan by 26.4 percent, and up 28 percent year-on-year.

The Airports Corporation of Vietnam (ACV) posted a record loss of over 856 billion VND (37.3 million USD) in post-tax profit in the third quarter, blaming the poor performance on impacts of the COVID-19 pandemic.

Multiple banks recorded prosperous business results in the first nine months of 2021 despite the negative impacts caused by the COVID-19 pandemic, with some even exceeding business targets for the whole year.

The Vietnam Technological and Commercial Joint Stock Bank (Techcombank) announced on October 20 that it had recorded a pre-tax profit of 17.1 trillion VND (753.5 million USD) in the first nine months of 2021, up 59.6 percent year-on-year.