Many banks see increased profits

In the 2022 annual general meeting of shareholders, many commercial banks announced that profits increased sharply in the first quarter of this year.
Many banks see increased profits ảnh 1

Specifically, Vietcombank announced a pre-tax profit of VND9.95 trillion, up 15.3 percent compared to the same period last year. Techcombank enjoyed a pre-tax profit of VND6.8 trillion, up 23 percent year-on-year. The pre-tax profit of HDBank was roughly VND2.53 trillion, up 20.3 percent year-on-year. Nam A Bank’s pre-tax profit was more than VND645 billion, up 40 percent year-on-year. Eximbank achieved a pre-tax profit of VND809 billion, 3.8 times higher than the same period last year.

Bank profits mainly come from good credit growth, reduced credit costs, increased revenue from services, and a sharp increase in revenue from bancassurance.