Many banks in Vietnam have released their business results in 2022, which indicate their hefty profits. According to the 2022 financial report of the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank), it recorded a pre-tax profit of over VND37.3 trillion (US$1.59 billion), up 36 percent year on year and exceeding its 2022 target. With this result, Vietcombank has taken the lead in pre-tax profit in the entire banking system for five consecutive years. It was followed by Vietnam Technological and Commercial Joint Stock Bank (Techcombank), which earned over VND25.5 trillion (nearly $1.09 billion) last year, rising 10 percent compared with the preceding year. Last year was the ninth straight year that Techcombank had posted a profit growth rate, albeit at a modest rate. Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) was also among the banks with a high profit. Its pre-tax profit surged more than 70 percent to nearly VND23 … [Read more...] about Banks in Vietnam report handsome profits in 2022