Vietnamese banks post profit surge as deposit rates climb and NPLs diverge

Six‑month results show major Vietnamese lenders reporting strong earnings. Vietcombank kept non‑performing loans (NPL) below 1% while ABBank cut its NPL ratio to 0.55%. In contrast, Sacombank warned its NPL rate could jump to around 5.6%. Profit before tax rose sharply for several banks: ABBank posted an 80% increase to VND 3,016 billion, and Vietbank saw a 79.4% rise to VND 923 billion, driven by higher net interest income.

At the same time, deposit‑rate competition intensified. Online surveys of 34 banks on 11 July showed most offered 12‑month rates between 6.6%‑6.9%, with a few reaching 7%+. Negotiated rates in some institutions exceeded 9% for six‑month terms, reflecting pressure to attract funding as credit growth outpaces deposits. Banks also boosted certificate‑of‑deposit offers, with VPBank raising rates up to 9% and lowering minimum purchase amounts.

Digital banking adoption accelerated, exemplified by Ocean Commercial Bank (OCB) reporting 98% of transactions on its digital channel and a 35% rise in active users, earning it a “Best Digital Bank Vietnam 2026” award.