Several banks have recently announced startling business performance results in the third quarter of 2024 and the first nine months of 2024.
Techcombank announced that pre-tax profit in the first nine months of this year reached VNĐ22.8 trillion, up 33.5 per cent over the same period last year. In the period, the bank recorded a net interest income (NII) of VNĐ26.9 trillion, up 33.9 per cent and revenue from service activities was VNĐ8.3 trillion, up 17.1 per cent. In addition, Techcombank’s insurance service fees reached VNĐ594 billion, up 29.8 per cent.
At the end of September 2024, Techcombank's total assets reached VNĐ927.1 trillion, up 9.1 per cent over the beginning of this year.
Meanwhile, LPBank said that its pre-tax profit in the third quarter of 2024 increased by 133 per cent compared to the same period, reaching nearly VNĐ2.89 trillion. Accumulated for the first nine months, pre-tax profit reached nearly VNĐ8.82 trillion, up 139 per cent compared to the same period.
The driving force for LPBank’s profit growth in the third quarter of 2024 came from both net interest income and non-interest income. Accordingly, the bank's net interest income increased by 43.5 per cent to nearly VNĐ3.78 trillion thanks to a sharp decrease in interest expenses of nearly 15 per cent. The bank’s non-interest income from service activities recorded a growth of 519 per cent, bringing in more than VNĐ1.01 billion.
At the end of the third quarter of 2024, LPBank's total assets reached nearly VNĐ 446 trillion, an increase of 16.4 per cent compared to the end of 2023.
PGBank announced a pre-tax profit of VNĐ76.9 billion in the third quarter of this year, up 35.8 per cent year-on-year. The bank’s accumulated profit for the first nine months of 2024 reached VNĐ344.4 billion, down 4.4 per cent year-on-year.
In the third quarter, PGBank's net interest income increased by nearly 50 per cent year-on-year, bringing in VNĐ416 billion and was the main driver for the bank's profit growth. In addition, non-interest income also increased by 34.7 per cent, bringing in nearly VNĐ32 billion to the bank.
By the end of the third quarter of 2024, PGBank's total assets were VNĐ61.8 trillion, up 11.4 per cent compared to the beginning of this year. The bank’s outstanding loans reached VNĐ36.89 trillion, up 4.4 per cent and its bad debt ratio increased from 2.85 per cent to 3.19 per cent.
BaoViet Bank said its nine-month profit was more than VNĐ32 billion, down about five per cent year-on-year. The bank said its net interest income increased by 27.4 per cent year-on-year, while its service segment grew by 31 per cent. The bank’s net profit from trading securities also grew by 85 per cent.
As a result, BaoViet Bank's total operating income after the first nine months of this year increased by 14 per cent year-on-year. In addition, the bank said it had reduced operating costs by 4 per cent, but increased its provisioning by 35 per cent.
By the end of September, BaoViet Bank's total assets reached nearly VNĐ90.38 trillion, up 6.8 per cent year-on-year. The bank’s credit grew by 12 per cent, while deposit increased by 8.3 per cent. BaoViet Bank's bad debt ratio was controlled below 3 per cent.
