Vietnamese banking sector financial performance

Financial reports and industry forecasts indicate a period of growth for the Vietnamese banking sector in 2026, though rising capital costs present challenges.

In the first half of 2026, PVcomBank reported a pre-tax profit exceeding 1,023 billion VND. The bank saw a 59% increase in net interest income compared to the previous year, alongside significant growth in service income and net profit from trading and investment securities. Specifically, net profit from investment securities reached over 362 billion VND, marking a turnaround from a loss of nearly 9 billion VND in the same period of 2025.

Looking toward the third quarter of 2026, MBS Research projected profit growth across monitored banks. While credit growth is being driven largely by corporate entities—with Agribank reporting an 8.74% increase in corporate debt and Vietcombank seeing an 11% rise in priority sector credit—banks are facing pressure on net interest margins (NIM). Interest expenses for 27 listed banks rose 49% in the first half of 2026, outpacing interest income growth of 33.6%.

Despite these rising costs, profit forecasts for major banks in Q3 2026 remain positive. Vietcombank is expected to see a profit increase of approximately 29.1%, while VietinBank is projected to grow by 27.4%. VPBank is forecasted to see a 26.6% increase, though it faces NIM compression, and Techcombank is expected to see a 17.5% rise.