Transaction counter at a bank - Photo: QUANG DINH
Revenue of more than 91,000 billion VND from service activities
Since the beginning of December, many banks have begun to apply and adjust management fees for accounts that do not meet the average balance requirement, with common fees ranging from VND5,000 to several tens of thousands of VND per month.
This move takes place in the context that the service sector is gradually becoming an important pillar of non-interest income, increasingly promoted by banks to supplement credit activities.
Service income includes payment fees, account management, card services, guarantee fees and many digital banking utilities... This is a source of revenue that helps banks expand their revenue structure, reduce dependence on credit and limit risks arising from lending activities.
According to the third quarter financial report, the total operating income of 27 banks in the first 9 months of 2025 reached more than VND 528,000 billion, up 12% over the same period last year.
Although net interest income is still the "backbone" when contributing more than VND 411,000 billion, accounting for nearly 78% of total operating income. However, non-interest income also maintained an upward trend, with service income alone increasing by 6%, reaching more than VND 48,709 billion, accounting for nearly 10% of total income.
In terms of the service sector alone, total revenue from this activity in the first 9 months reached nearly VND91,000 billion, up 7.5% over the same period. MB took the lead with more than VND12,460 billion, up nearly 20%, followed by VPBank with more than VND10,540 billion.
Data: Financial statements
The state-owned banking group continued to play a leading role when BIDV earned more than VND9,593 billion, VietinBank more than VND9,132 billion and Vietcombank reached VND8,566 billion.
Banks look for new growth drivers
According to the financial reports of 27 banks in the third quarter of 2025, outstanding loans increased by 15% in the first 9 months, but net interest income increased by only 9.6% due to the continued narrowing of net interest margins (NIM) when interest rates were low. In that context, banks were forced to expand into areas that bring in more stable income.
At a recent banking industry conference, Mr. Le Khanh Tung, Head of Financial Services Industry Research at HSC Securities Company, commented that the banking system is seeing many new growth drivers.
First is the growing contribution from bank-affiliated securities companies.
The second driver comes from the strong growth of the stock market.
Despite strong fluctuations in the 2020-2025 period, liquidity still increased from VND 5,000-6,000 billion per session to more than VND 45,000 billion in the third quarter of 2025.
The bustling trading helps securities companies benefit greatly from brokerage and margin lending.
From a long-term perspective, Mr. Tung assessed that digital assets will be a "blue ocean" for securities companies and parent banks.
If the policy operates effectively, the scale of Vietnamese cryptocurrency transactions could reach 700 million USD per day, equivalent to 50% of the stock market liquidity, bringing in estimated brokerage revenue of more than 6,000 billion VND, not including revenue from margin lending.
Another driving force comes from the gold market after Decree 232 abolished the monopoly mechanism of SJC gold bars. Accordingly, commercial banks with charter capital of 50,000 billion VND and some qualified enterprises can participate in the production and trading of gold bars.
The regulation that gold transactions of VND20 million or more must be conducted through banks also helps increase the amount of money in circulation, deposits and improve demand deposits (CASA).
However, he said that profits from this segment are hardly significant compared to the profit scale of large banks, although it still helps diversify fee income.
In addition, many banks want to enter the insurance sector, where the non-life insurance sector generates profits of 300-500 billion VND per year, while life insurance has great potential but needs the first 3-5 years to start making a profit.
Source: https://tuoitre.vn/cac-ngan-hang-thu-bon-tien-ra-sao-tu-phi-dich-vu-20251206110134301.htm
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