Vietcombank, the "big brother," continues to hold the top position in terms of profit in 2024 with pre-tax profit reaching over 41,000 billion VND, a slight increase of 1.3% compared to 2023.

VietinBank and BIDV both made it into the Top 3, achieving similar pre-tax profits for their parent banks, at VND 30,360 billion and VND 30,006 billion respectively. VietinBank overtook BIDV to take second place after achieving a profit growth of 25%, while BIDV achieved a profit growth of 12% compared to the same period last year.

MB ranked 4th with pre-tax profit of VND 27,639 billion, a 12% increase compared to 2023.

Agribank is among the Top 5. While the bank has not officially released its Q4 2024 financial report, preliminary information suggests pre-tax profit growth of 8% in 2024. Agribank's pre-tax profit for 2024 is projected at VND 27,567 billion, equivalent to MB's profit.

Techcombank's pre-tax profit also nearly reached $1 billion, totaling VND 24,454 billion, a growth of 29.51%, ranking 6th among banks with the highest profits last year.

If we consider only private banks, Techcombank continues to hold the number one position in terms of profit.

Next is ACB Bank with 20,119 billion VND in pre-tax profit, a slight increase of 3.5%.

VPBank achieved a profit growth rate of 35.57%, equivalent to VND 18,260 billion.

HDBank also made it onto this list with a profit of VND 15,698 billion in 2024, an increase of over 23% compared to the previous year.

Sacombank's pre-tax profit in 2024 also grew rapidly, reaching 35.28% after reporting a profit of VND 12,558 billion.

Notably, LPBank reached the milestone of profits exceeding VND 10,000 billion for the first time, reporting a profit of VND 12,168 billion. The bank, chaired by Mr. Nguyen Duc Thuy, was also the only "star" with a growth rate of up to 72%.

LPBank stated that the reason for the increase was the strong rise in net interest income in the fourth quarter of 2024, following the bank's focus on leveraging its network advantages, diversifying its customer base, and boosting credit growth from the early months of the year. In addition, controlling credit quality and accelerating comprehensive digital transformation also contributed to lower operating costs compared to the same period last year.

The other bank to join the "10 trillion VND club" is SHB, chaired by Do Quang Hien. This bank achieved a profit of 11,365 billion VND, an increase of 24%. This is also SHB's best business result to date.

BANK TO ACHIEVE PRE-TAX PROFIT OF OVER 10,000 BILLION VND IN 2024
STT BANK Net Profit (Billion VND) INCREASED COMPARED TO 2023
1 VIETCOMBANK 41,000 1.34%
2 VIETINBANK 30,360 25.48%
3 BIDV 30,006 12.35%
4 MB 27,639 11.95%
5 AGRIBANK 27,567 8%
6 TECHCOMBANK 24,454 29.51%
7 ACB 20.118 3.52%
8 VPBANK 18,260 35.57%
9 HDBANK 15,698 23.26%
10 SACOMBANK 12,558 35.28%
11 LPBANK 12,168 72.85%
12 SHB 11,365 24.09%

VIB is the closest bank to this group, with profits exceeding VND 8,900 billion in 2024.

The individual Q4 financial reports of banks show that BVBank achieved the highest profit growth rate in terms of percentage. Specifically, BVBank's profit growth reached 448%, achieving over 390 billion VND in profit in 2024 (parent bank). This figure far exceeds the 200 billion VND target set by the General Shareholders' Meeting for 2024.

In the fourth quarter of 2024 alone, BVBank achieved a pre-tax profit of VND 209 billion. BVBank explained that the reason for the high profit increase in the fourth quarter compared to the previous quarter was due to a strong increase in lending activities (contributing nearly 40% of the year's increase), a faster debt collection rate with collection nearly three times the average of previous quarters, a significant improvement in interest income, and a reduction in provision expenses.

ABBank recorded a profit of VND 809 billion in 2024, placing it among the leading banks in terms of growth rate, reaching 57%.

The remaining two banks in the Top 5 are Kienlong Bank (VND 1,109 billion) and Nam A Bank (VND 4,543 billion), achieving increases of 56% and 37% respectively compared to 2023.

In terms of absolute profit growth figures, VietinBank leads with an increase of over VND 6,166 billion. Techcombank ranks second with an increase of VND 5,574 billion in profit compared to 2023. LPBank is third on the list with an increase of VND 5,129 billion. VPBank and BIDV rank fourth and fifth respectively with an increase of VND 4,792 billion and VND 3,300 billion in profit.

Among the listed banks, Eximbank is the only one that has not yet disclosed information about its business results up to the Lunar New Year 2025.