Specifically, the Vietnam Investment and Development Bank ( BIDV ) has just announced its latest business results, showing that all key indicators have met and exceeded the targets set by the State Bank of Vietnam and the General Shareholders' Meeting.
Notably, the bank's pre-tax profit in 2024 reached VND 30,006 billion (equivalent to over USD 1.1 billion), a 12.4% increase compared to the previous year. Profitability and financial safety indicators remained stable, with ROA reaching 1.02%, ROE reaching 19.09%, and capital adequacy ratio (CAR) reaching 8.6%.
In addition, BIDV's subsidiaries, joint ventures, and associated companies also maintained stable business performance. Pre-tax profit from the subsidiaries reached VND 1,253 billion, while the joint ventures and associated companies contributed VND 1,362 billion. Thus, BIDV's consolidated total profit in 2024 is estimated to exceed VND 31,000 billion.
The total assets of the commercial banking sector reached nearly 2.7 trillion VND (equivalent to over 100 billion USD) by the end of 2024, a growth of 19.4%, maintaining its position as the joint-stock commercial bank with the largest asset size in Vietnam.
Total mobilized capital reached 2.14 million billion VND, an increase of 13.1%, while outstanding credit reached over 2.01 million billion VND, an increase of 15.3%, accounting for 13.1% of the credit market share, leading the market.
Credit quality is tightly managed with the non-performing loan ratio controlled at 1.3%, meeting the State Bank of Vietnam's target. The non-performing loan coverage ratio reached 133%, reflecting the bank's effective risk control capabilities.
BIDV's equity reached VND 136,320 billion, an increase of 18.4% compared to the previous year. The bank's market capitalization reached VND 259,000 billion, a growth of 4.6%, continuing to be among the top 3 companies with the largest market capitalization on the Vietnamese stock market.
In 2024, BIDV completed an increase in its charter capital to VND 68,975 billion, while contributing VND 9,412 billion to the state budget, placing it among the leading enterprises in corporate income tax payments.
Similarly, at Vietnam Joint Stock Commercial Bank for Industry and Trade ( VietinBank ), although specific profit figures have not yet been announced, the latest news from the bank indicates that VietinBank's total assets have grown by 17%; revenue has grown positively, and profits have met and exceeded the set targets.
Earlier, in early October 2024, VietinBank's Board of Directors finalized the profit plan for the whole year 2024 with an expected growth rate of 8.7% compared to the previous year, equivalent to a pre-tax profit of the parent bank of VND 26,300 billion (exceeding USD 1 billion).
According to VietinBank, outstanding loans grew by 16.88% in the past year compared to 2023, higher than the average growth rate of the entire banking industry and maintaining stable growth throughout the year. Total mobilized capital reached VND 1.8 trillion, an increase of 15% compared to the end of 2023. The size of current account deposits (CASA) grew dramatically by 30% compared to the average of 2023. The proportion of CASA reached 24.1% by the end of 2024, supporting the improvement of capital costs and enhancing VietinBank's competitiveness.
In 2024, VietinBank contributed 8.6 trillion VND to the State budget, a 33% increase compared to 2023, and consistently ranked among the top 10 enterprises contributing the most to the State budget.
Prior to BIDV and VietinBank, the Agricultural and Rural Development Bank ( Agribank ) also announced its preliminary business results for 2024. In these results, pre-tax profit for 2024 is projected to increase by more than 8% compared to the previous year, reaching an estimated 27,927 billion VND.
As of December 31, 2024, Agribank's total assets reached over VND 2.2 trillion, an increase of VND 200,000 billion, representing a 10% growth compared to the previous year. Outstanding loans also recorded a significant increase, exceeding VND 1.72 trillion, an increase of over VND 170,000 billion, representing an 11% growth. Simultaneously, the bank's deposits surpassed VND 2 trillion, an increase of over VND 140,000 billion, representing a 7.5% growth.
The on-balance sheet non-performing loan ratio decreased to 1.56%, ensuring compliance with the bank's risk control objectives. The bank also resolved nearly VND 138 trillion in non-performing loans between 2021 and 2024 and aims to reduce the on-balance sheet non-performing loan ratio to below 1% by 2025. Over the past year, Agribank received an additional VND 17.1 trillion in charter capital from the state budget, raising its total charter capital to VND 51.6 trillion.
Thus, at this point, among the state-owned banks, only the Vietnam Foreign Trade Commercial Bank (Vietcombank) has yet to announce its 2024 business results. However, at the conference on implementing the banking sector's tasks for 2025, held in mid-December 2024, Mr. Nguyen Thanh Tung, Chairman of the Board of Directors of Vietcombank, stated that the bank had basically completed the targets and plans assigned by the State Bank of Vietnam and the General Shareholders' Meeting.
By the end of 2024, Vietcombank is projected to achieve credit growth of 13%, with outstanding loans reaching 1.4 trillion VND. The bank's total assets are estimated at nearly 2 trillion VND, while the non-performing loan ratio is tightly controlled below 1%.
Previously, the nine-month business report showed that Vietcombank's pre-tax profit reached VND 31,533 billion, a 7% increase compared to the same period last year and completing 75% of the 2024 full-year plan. With this result, Vietcombank continues to maintain its leading position in the entire industry in terms of profit.
Source: https://doanhnghiepvn.vn/kinh-te/he-lo-loi-nhuan-ty-usd-cua-4-ngan-hang-lon/20250109090038148
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