Foreign-invested banks make handsome profits in Vietnam in H1

Shinhan Vietnam’s hefty profit was equal to 65 percent of the previous year’s full-year figure the bank had booked. Thanks to its big profit, the bank’s return on equity (ROE) ratio rose to 17.47 percent from 14.07 percent. The other foreign-invested bank, HSBC Vietnam, also boasted positive business results between January and June. Bucking the trend of a meltdown among local banks, Shinhan Vietnam and HSBC Vietnam achieved positive business results in the first half of 2023. During the period, 27 listed Vietnamese banks saw a combined after-tax profit drop 2.9 percent year on year.