Among the 20 most profitable enterprises in Vietnam, banks have 11 positions.

Consumption is showing signs of improvement, helping businesses be more optimistic in the last months of the year - Photo: QUANG DINH

On September 4, Vietnam Report Joint Stock Company in collaboration with VietNamNet newspaper officially announced the PROFIT500 Ranking - Top 500 Most Profitable Enterprises in Vietnam in 2024.

Banks still maintain high profits

According to the survey results of Vietnam Report, the majority of enterprises recorded a better business situation in the first half of the year than the same period last year, of which 73.4% of enterprises increased in revenue and 60.3% of enterprises maintained profit growth. On the contrary, the rate of enterprises with a decrease in revenue and profit has significantly narrowed compared to the survey results of the same period in 2023.

In addition, 58.3% of businesses expect profits in the last 6 months of 2024 to improve.

The banking sector continues to demonstrate its superior strength by occupying the majority of high positions in the list of Top 500 Most Profitable Enterprises.

The dominance of banks is demonstrated by their ability to maintain stable profits and efficient use of capital, despite the volatile global economic context.

In terms of the average return on assets (ROA) of enterprises in the PROFIT500 Ranking in 2024, the FDI sector continues to affirm its leading position. This shows the ability to utilize assets to generate better profits when it increased to 14.5%, up 0.8% compared to 2023. This is the only sector that recorded a slight improvement while the other two sectors witnessed a decline in financial performance.

The average ROA ratio of the private sector reached 10.1%, while that of the State sector reached 7.7%, corresponding to a decrease of 1.1% and 1.5% compared to last year's statistical results.

Regarding return on equity (ROE), despite a slight decrease, the foreign direct investment (FDI) sector still maintained the highest ROE (30.7%). FDI enterprises still demonstrated more effective capital management and continued to attract investors thanks to their stable profitability, surpassing that of the private and state sectors.

All economic sectors recorded a decline in ROE, indicating that the return on capital was not maintained effectively. This could be due to factors such as increased costs, poor business performance, or unfavorable changes in the economic environment.

The private sector faced many challenges, falling from 27.4% to 23.8%. This reflects internal difficulties, which may stem from capital, market, or fierce competition.

This sector still faces many difficulties and needs to improve its investment strategy, management, and capital use in the future. With ROE reaching only 15.7%, the State sector continues to demonstrate low efficiency in capital use.

Confidence is strengthened

Vietnam's economic outlook for 2024 is brighter, with a growth scenario of 6 - 6.5% considered by many businesses to be the most feasible. The proportion of businesses expecting growth of 6.0 - 6.5% and above 6.5% increased sharply, 17.6% and 14.3% higher, respectively, than the survey results at the beginning of the year.

According to the survey results of Vietnam Report, the advantages that businesses perceive largely come from the Government 's strong efforts in solving the root causes of economic problems.

"The stability and gradual recovery of the macro economy thanks to economic management measures, fiscal and monetary policies, and flexible stimulus and support packages of the Government demonstrate its commitment to creating a favorable and stable business environment, which is expected to continue to be effective, reducing the burden on businesses," the report explained.

Notably, the improvement of the legal environment with many new laws passed has risen to third place among the advantages named by businesses, with 56.3% of businesses voting.

Top 20 most profitable enterprises in Vietnam in 2024:

1. Vietnam Oil and Gas Group

2. Military Industry - Telecommunications Group

3. Samsung Electronics Vietnam Thai Nguyen Company Limited

4. Bank for Foreign Trade of Vietnam

5. Joint Stock Commercial Bank for Investment and Development of Vietnam

6. Military Commercial Joint Stock Bank

7. Vietnam Bank for Agriculture and Rural Development

8. Vietnam Joint Stock Commercial Bank for Industry and Trade

9. Vietnam Technological and Commercial Joint Stock Bank

10. Oil and Gas Exploration and Production Corporation - State-owned LLC

11. Asia Commercial Joint Stock Bank

12. PetroVietnam Gas Corporation - Joint Stock Company

13. Vingroup Corporation - joint stock company

14. Ho Chi Minh City Development Joint Stock Commercial Bank

15. Vietnam Dairy Products Joint Stock Company

16. Vietnam Prosperity Joint Stock Commercial Bank

17. Vietnam International Commercial Joint Stock Bank

18. Vietnam Airports Corporation - joint stock company

19. Binh Son Refining and Petrochemical Company

20. Saigon Thuong Tin Commercial Joint Stock Bank

Top 20 most profitable private enterprises in 2024: Banks occupy 13 positions

1. Vietnam Technological and Commercial Joint Stock Bank

2. Asia Commercial Joint Stock Bank

3. Vingroup Corporation - joint stock company

4. Ho Chi Minh City Development Joint Stock Commercial Bank

5. Vietnam Dairy Products Joint Stock Company

6. Vietnam Prosperity Joint Stock Commercial Bank

7. Vietnam International Commercial Joint Stock Bank

8. Saigon Thuong Tin Commercial Joint Stock Bank

9. Saigon - Hanoi Commercial Joint Stock Bank

10. FPT Corporation

11. Masan Consumer

12. Hoa Phat Group Joint Stock Company

13. Loc Phat Vietnam Joint Stock Commercial Bank

14. Vietnam Maritime Commercial Joint Stock Bank

15. Tien Phong Commercial Joint Stock Bank

16. Vincom Retail Joint Stock Company

17. Southeast Asia Commercial Joint Stock Bank

18. Orient Commercial Joint Stock Bank

19. CP Duc Giang Chemical Group

20. Nam A Commercial Joint Stock Bank

Source: https://tuoitre.vn/trong-20-doanh-nghiep-loi-nhuan-tot-nhat-viet-nam-ngan-hang-co-11-vi-tri-20240904142416583.htm