Agribank has become the first bank reporting its business results for 2024. Its total assets had reached VND2.2 quadrillion as of December 31, 2024, and total mobilized capital VND1.72 quadrillion, an increase of VND170 trillion (+11 percent), while the non-performing loan (NPL) ratio was curbed at VND1.56 percent. Its stockholder equity reached VND126 trillion, including VND51.6 trillion worth of charter capital.

The bank reported a pre-tax profit increase of 8 percent in 2024 compared with the year before. The bank earned VND25.525 trillion in separate before tax profit in 2023, while the figure was VND27.567 trillion in 2024.

Agribank in 2024 completed the restructuring of 21 branches in Hanoi and HCM City. After settling VND138 trillion of on-balance-sheet NPL in 2021-2024, it is now striving to reduce the NPL to below one percent in 2025; and reduce total on-balance-sheet NPL, debts likely to turn into bad debts, and debts sold to VAMC which have not been settled to below 3 percent by the end of 2025.

National Citizen Bank (NCB) has shown encouraging business results for the last year.

2024 was the time when the bank began its restructuring, becoming the first credit institution completing the compilation of the restructuring plan and getting approval in accordance with the ‘Plan to restructure credit institutions in association with settling down bad debts in 2021-2025’ under the Prime Minister’s Decision No689.

The bank recovered and handled outstanding assets, accomplished the restructuring plan by 130 percent, completed the provisioning and stopped recording accrued interest immediately after it raised charter capital to VND11.8 trillion last December.

The provisioning, divestment of accrued interest and capital expenditure of old existing accounts under the restructuring plan were why the bank gained a negative profit, though new business results in 2024 were good, with after-provisioning TOI reaching VND2.968 trillion. After deducting all operating expenses, the profit from new business activities reached VND1,339 billion.

As of the end of 2024, NCB exceeded the targets set by the shareholders’ meeting held in April 2024. Its total assets had reached VND118.562 trillion, up 23.2 percent over 2023 and 12 percent higher than planned.

Its total outstanding loans had reached VND71.175 trillion, and total tier-1 mobilized capital VND100.491 trillion, exceeding the planned targets by 10.6 and 16.8 percent, respectively.

To date, no commercial bank has officially released their finance reports for the fourth quarter 2024. However, Vietcombank Securities (VCBS) has updated the business results of banks.

VCBS predicted that VietinBank’s total operating income of the fourth quarter 2024 was VND20.585 trillion, an increase of 12.9 percent over the same period 2023, while pre-tax profit is predicted to reach VND8.557 trillion (+ 11.2 percent).

As for BIDV, its total operating income was estimated at VND25.3 trillion (+ 23 percent) and pre-tax profit VND8.778 trillion (+ 11 percent).

VCBS predicted the total operating income of VND11.935 trillion for Techcombank (+ 8.3 percent). However, the bank’s pre-tax profit is predicted to decrease by 11.4 percent to VND5.114 trillion.

The profit decrease is explained by the fact that Techcombank had to pay VND1.8 trillion in compensation to Manulife as it unilaterally terminated the bancassurance contract with the insurer.

The predicted figures are VND15.276 trillion (+ 15 percent) and VND5.659 trillion (+ 109 percent), respectively, for VPBank; VND8.565 trillion (+ 3.7 percent) and VND4.472 trillion (2 percent) for HDBank.

Other banks, including MB, MSB, Sacombank and ACB are also expected to gain a pre-tax profit increases of tens of percent. MSB is believed to earn VND1.5 trillion worth of pre-tax profit in the fourth quarter 2024, a sharp increase of 147.1 percent over the fourth quarter 2023.

Prior to that, the government in October 2024 submitted a report to the National Assembly about the investment, management and use of state capital in enterprises in 2023, which showed that the four state-owned banks, or the ‘big four’, gained positive growth with good capital adequacy ratio and rapid increase in mobilized capital. 

Byy the end of 2023, the total liabilities and equity (total capital) of the State-owned commercial banking sector had reached VND 8,218,023 billion, an increase of 7.9 percent compared to the end of 2022.

Meanwhile, total deposits at the state banks had reached VND173.201 trillion, down 28.3 percent compared with the end of 2022.

Tuan Nguyen