The Q3 2026 banking earnings season brought a notable change at the top: VietinBank (CTG) earned pre-tax profit of VND13.689 trillion, up 29% year on year and ahead of Vietcombank's (VCB) roughly VND11.218 trillion. For the first nine months, VietinBank's pre-tax profit reached VND39.557 trillion (up 33.9%), only about VND883 billion behind Vietcombank.
VietinBank highlights
- Net interest income in Q3 was VND21.816 trillion, up 27%.
- Customer loans reached about VND2.14 quadrillion, up 7.5% from the start of the year; customer deposits rose 8.4%.
- Provisions rose 32.7%, and the bad-debt coverage ratio stayed around 160%, showing the bank is building buffers.
- Total assets were nearly VND2.95 quadrillion, up 6.7%.
The sector picture
According to FiinGroup, after-tax profit of the 20 banks that had reported rose 14.1%. Beyond VietinBank, many lenders posted good results: BIDV's nine-month pre-tax profit reached VND28.483 trillion with loans up 8%; MSB rose 27% in Q3; SeABank 38%; VPBank earned nearly VND30 trillion in nine months; ACB topped VND16.6 trillion, with lending growing in trade, manufacturing and construction. Some banks raised provisions sharply, lowering quarterly profit, which reflects a cautious and transparent approach to asset quality.
Policies supporting banks and the economy
- Record public investment and large infrastructure projects create quality credit demand for state-owned banks.
- Controlled inflation (ten-month average CPI of 4.57%) keeps interest rates stable.
- Private sector development under Resolution 68 and a 30% CIT cut for small firms widen the SME customer base.
Impact on Vietnam's economy
Banks are the economy's lifeblood. Steady credit growth into manufacturing, trade and construction is a key channel for reaching the growth target of 10% or more. Large banks raising both profit and provisions makes the system sturdier and ready to support the economy in 2027.
Investment perspective
Bank stocks carry a large weight in the VN-Index and are on foreign funds' watchlists after the FTSE upgrade. Investors should watch asset quality (NPL and coverage ratios) as well as profit growth. This article is not investment advice.
vietnamii.com view: Q3 results show the banking system remains a pillar of growth, with healthy competition among the leaders and greater focus on capital safety.