Vietcombank Posts Record FY2024 Pre-Tax Profit of VND 42.2 Trillion to Lead Vietnamese Banking Sector

Vietcombank — the Joint Stock Commercial Bank for Foreign Trade of Vietnam — reported consolidated full-year 2024 pre-tax profit of approximately VND 42.2 trillion, equivalent to about USD 1.66 billion, a record for the bank and the highest among Vietnamese banks. Profit after tax for the year came in at VND 33.9 trillion.

The result also placed Vietcombank as the leading contributor to the combined record pre-tax profit of nearly USD 5 billion estimated for Vietnam's four major state-owned banks for 2024.

NET INTEREST INCOME

Net interest income for the full year reached VND 55.4 trillion. In the fourth quarter, net interest income rose 8% year on year to VND 13.8 trillion — although fourth-quarter pre-tax profit fell 9% year on year to about VND 10.7 trillion.