Although credit remains the main contributor to bank profits in the first half of the year, it also carries many risks in the context of unpredictable global economic fluctuations. Many banks are proactively reducing their dependence on lending and promoting non-interest income sources to increase sustainability.
Bank profits differentiated by capital flow quality
In 2025, although lending interest rates are unlikely to increase, credit is expected to improve thanks to the economy’s improved capital absorption capacity. Along with that, the digital transformation wave and the diversification of products and services have also helped many banks boldly set profit growth targets of 10–15%.
According to analysts, credit demand is recovering in the first half of the year, thanks to improved export orders, increased public investment and a return of positive sentiment to the private sector. As a result, bank profits in the second quarter showed signs of improvement. However, the increase was uneven, with strong differentiation depending on the quality of capital flows and risk management strategies.
Several banks have reported positive results. PGBank recorded pre-tax profit in the second quarter of 2025 of VND188 billion, up more than 98% year-on-year, thanks to expanding revenue sources and reducing risk provisioning costs. Accumulated profit in the first 6 months reached VND284 billion, up nearly 35%.
NCB recorded an estimated after-tax profit in the second quarter of more than 311 billion VND, bringing the 6-month result to more than 462 billion VND, 77 times higher than the same period in 2024 (6 billion VND), showing a clear breakthrough.
TPBank announced that its pre-tax profit for the first 6 months reached over VND4,100 billion, up more than 12%. Credit growth reached nearly 11.7%, mainly focusing on areas with high net profit margins such as retail, risk-controlled real estate and consumer finance.
Kienlongbank reported pre-tax profit of VND921 billion in the second quarter, up 67% year-on-year, fulfilling nearly 67% of the yearly plan. The main driving force came from increased operating income and cost reduction.
Nam A Bank also achieved pre-tax profit of more than VND 2,500 billion in 6 months, up 14% over the same period in 2024.
The state-owned banking sector has not yet published its financial report, but at the 6-month review conference, Agribank said its business results reached the highest level since restructuring in the 2021-2025 period. Outstanding loans to the economy reached more than 1.85 million billion VND, up 7.6%.
VietinBank recorded a credit increase of about 10%, mobilization increased by more than 9% and pre-provision profit continued to increase compared to the same period last year.
Vietcombank said that by the end of June 2025, outstanding credit balance reached VND1.6 million billion, an increase of 11.1%. If excluding VND50,000 billion in outstanding debt supporting VCB Neo, the increase reached 7.5%.
Increase sustainable profits
To date, only five banks have announced their second quarter 2025 profits with quite positive results. However, according to experts, this is the period when the banking industry enters a comprehensive restructuring. The speed of digital transformation, risk management capabilities and credit portfolio quality will be the key factors determining profit growth, instead of relying solely on credit as before.
Banks with good technology platforms, high CASA ratios, focusing on retail banking and controlling consumer credit risks are recording positive growth. In contrast, banks stuck in risky corporate bonds, bad real estate debts or undiversified credit portfolios have had to increase provisions, dragging down profits.
Economist Phan Dung Khanh commented that in the context of the economy still having positive prospects, the banking sector, as a financial pillar, will continue to grow. However, the level of optimism will be uneven, due to the difference in the ability to take advantage of support policies and capital structure among banks. In addition, the differentiation in growth of economic sectors also directly affects credit activities. Banks with the right strategy and good market analysis will stand out from the rest.
Profits in the first half of the year still mainly came from credit activities, but many banks are trying to diversify their revenue sources. Mr. Vo Hoang Hai, Deputy General Director of Nam A Bank, said that banks are currently having to cut costs and accept low profit margins to bring cheap capital to the market. Retaining good customers makes interest rate competition increasingly fierce, affecting net interest income.
However, when credit is injected early into the economy, it will create growth momentum, open up opportunities to develop non-credit products, and contribute to boosting overall profits. According to Mr. Hai, to increase operational efficiency, credit needs to flow into the market as soon as possible.
Some experts also warn of potential risks when credit remains the main source of income, especially in the context of a volatile global economy. Therefore, the trend of increasing non-interest income is being promoted to reduce dependence on traditional lending.
In fact, the Banking Industry Development Strategy to 2025, with a vision to 2030, has set a goal of increasing the proportion of revenue from services to 16 to 17 percent and continuing to increase in the next period.
Some banks have shown positive results in this area. In the first quarter of 2025, HDBank recorded a 105.5 percent growth in service revenue, reaching VND733.3 billion.
MB achieved VND1,235 billion in net profit from services, up 40 percent; foreign exchange trading earned VND537 billion, up 16 percent; securities investment reached VND509 billion, 2.3 times higher than the same period; other activities contributed an additional VND1,179 billion, up 3.2 times.
ACB also recorded a 7.52 percent increase in non-interest income, reaching VND1,556 billion; the contribution ratio of this source of income to total revenue increased from 18 to 20 percent.
Source: https://baolamdong.vn/ngan-hang-day-manh-thu-ngoai-lai-giua-luc-rui-ro-tin-dung-gia-tang-383220.html
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