Banks achieve half year’s profit target

Illustrative photo. (Source: internet)

They include Vietcombank, VIB, TPBank, Sacombank, VietinBank, ACB, SHB, LienVietPostBank, NamABank, SeABank, VietBank, and Saigonbank.

In total, the 25 banks raked in a combined VND53.6 trillion (US$2.30 billion) in pre-tax profits during the six-month period, increasing by 18 per cent on year.

Notably, Vietcombank saw its six-month pre-tax profits jump by 41 per cent to reach VND11.303 trillion (US$486.02 million), while Sacombank earned VND1.461 trillion (US$68.82 million) in pre-tax profits, a sharp rise of 47 per cent.

Eighteen banks enjoyed positive profits during the reviewed period. Of which, Maritime Bank (MSB) beat the highest profit growth with a staggering 192 per cent.

SeABank enjoyed VND439 billion (US$18.87 million) in profits, an annual rise of 69 per cent, while both VIB and TPBank recorded the profit growth of 58 per cent to reach VND1.82 trillion (US$78.26 million) and VND1.62 trillion (US$69.66 million), respectively.

MBBank, Kienlongbank, and Techcombank reached nearly half of their annual profit target.

Despite this, experts have put high hopes that these banks could still obtain and even exceed their full-year profit target.