4 major state-run Vietnamese banks report handsome profits in 2023

Four major state-run Vietnamese banks – Vietcombank, VietinBank, Agribank, and BIDV – have released their business results for 2023, which indicated huge profits despite the global economic slowdown. The bank recorded a new record consolidated pre-tax profit of over VND27.4 trillion (US$1.1 billion) last year, a 19-percent increase versus 2022. Vietcombank has also stated that it achieved all targets for 2023, including the pre-tax profit goal. In 2022, Vietcombank earned a consolidated pre-tax profit of nearly VND37.4 trillion ($1.5 billion). Thus, the bank’s consolidated pre-tax profit might have been around VND43 trillion ($1.8 billion) last year.