Business News

Profits in Việt Nam’s banking sector showed a brighter picture in the third quarter of 2025 than in the first half of the year, supported by continued positive credit growth and a stable net interest margin (NIM). Experts at MB Securities Company (MBS) said credit growth momentum remained steady in the third quarter, with an estimated increase of 14.8 per cent since the beginning of the year and 4.6 per cent compared to the previous quarter.

The first half of 2025 has revealed an impressive earnings landscape among listed enterprises, marked by the continued dominance of banks and the remarkable rise of select real estate players. According to data compiled by CafeF.vn, banks continued to assert overwhelming strength in the top 10 pre-tax earners of the period, claiming seven positions alongside three companies under the Vingroup ecosystem. 

The banking sector has been shifting its focus toward start-ups, reflecting a broader regulatory and institutional alignment with private sector innovation. According to the State Bank of Vietnam, by the end of June 2025, total system-wide credit had grown by approximately 9.9 per cent, with capital flows concentrating on priority sectors such as production, business, and notably, start-ups.

The common highlight in banks’ reports in the first half of 2025 showed a more stable and sustainable growth cycle in the banking industry. Credit expansion, improved profitability, and tighter control of asset quality are collectively laying a solid foundation for a strong performance in the second half of the year. According to the State Bank of Vietnam (SBV), as of June 30, 2025, total outstanding credit of the banking system exceeded VND17.2 quadrillion, up 9.9% compared to the end of 2024 and 19.32% year on year.

The remarkable rise in bank stock prices reflects significant changes in Việt Nam's financial landscape, driven by the Government's commitment to removing administrative barriers in credit operations and the legalisation of Resolution 42 concerning bad debt management. Several bank stocks have seen impressive gains since the beginning of the year.

Việt Nam’s credit conditions will remain stable in the second half of 2025, supported by proactive fiscal measures and ongoing institutional reforms, according to analysts of the Vietnam Investors Service (VIS) Rating, an affiliate of Moody’s. Nguyễn Lý Thanh Lương, Lead Analyst of VIS Rating, notes that despite external pressure, the stable outlook was attributed to the strong domestic operating conditions and supportive policies, which served as a crucial shock absorber.

Small-sized banking is expected to see the strongest pre-tax profit growth rate in the banking industry in the second half of 2025 thanks to boosting real estate credit and accelerating bad debt handling, experts forecast. In a recent H2 2025 outlook report, analysts of the Vietcombank Securities Company (VCBS) forecast that the pre-tax profit growth of the entire banking industry in 2025 could reach 18 per cent.

Việt Nam's stock market rose on Wednesday, extending its upward streak to a fourth straight day, with total market liquidity reaching nearly VNĐ41 trillion (US$1.6 billion), levels not seen in over a year. The market's benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) rose 15.86 points, or 1.12 per cent, to finish the day at 1,431.32 points – its highest level so far this year.