Banks lift nine-month earnings through diversified revenue

Among major banks, VPBank stood out with consolidated profit before tax of nearly $1.2 billion in the first nine months, up nearly 47 per cent on-year, equivalent to its full-year 2025 performance.

Growth was primarily driven by credit expansion and increased non-interest income. The bank's consolidated net interest income for the nine-month period reached nearly $2.12 billion, up 26.7 per cent on-year, while net fee income climbed 76.3 per cent to $345.8 million. Total operating income reached nearly $2.62 billion, representing an on-year increase of 25.3 per cent.

Techcombank recorded its highest-ever quarterly profit, with consolidated profit before tax reaching $415 million in the third quarter (Q3) of 2026, up 25.8 per cent on-year.

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Cumulatively, the bank's pre-tax profit for the first nine months amounted to $1.16 billion, up 23.7 per cent.

Jens Lottner, CEO of Techcombank, said the bank's business performance in Q3 and the first nine months was driven by diversified income streams, with positive growth in both net interest income and service activities.

Techcombank's total operating income reached $1.81 billion in the first nine months, up 17.1 per cent on-year. Of this, net interest income amounted to nearly $1.28 billion, an increase of 16.9 per cent. The net interest margin improved to 3.5 per cent in Q3, from 3.4 per cent in Q2.

Notably, service activities continued to make a positive contribution to overall business performance, generating approximately $472 million in income over the first nine months, up 44 per cent on-year.

In Techcombank's service income structure, revenue from letters of credit (LCs), cash and payments reached $196 million, up 136.6 per cent on-year, supported by the continued expansion of its LC solutions.

Fees from insurance services, including bancassurance and insurance services provided by subsidiaries, totalled $68 million, up 106.1 per cent.

Card service fees reached $60 million, an increase of 29 per cent. Meanwhile, income from foreign exchange and derivatives services amounted to $44 million, up 27.1 per cent, supported by demand for exchange rate risk hedging.

At the end of the first nine months of 2026, southern lender ACB reported profit before tax of more than $664 million, equivalent to 74 per cent of its full-year target. Its Q3 pre-tax profit reached nearly $236 million, up 9 per cent on-year.

Alongside growth in business scale, the quality of earnings also improved, with a greater focus on core business activities.

In ACB’s earnings structure, net interest income exceeded $920 million, up more than 16 per cent on-year. As for non-interest income, service income surpassed $104 million, an increase of 16 per cent. Profits from other business activities also made a positive contribution, adding nearly $92 million to the bank's total income.

In the first nine months of 2026, VIB posted profit before tax of $242.8 million, up 7.7 per cent on-year. Net interest income reached $447.5 million, up 13 per cent, while net fee income nearly doubled from a year earlier to $221.2 million.

MSB reported consolidated profit before tax of more than $80.7 million in Q3, up 27 per cent on-year, thanks to strong growth in several income streams, and lower credit risk provisioning expenses.

MSB’s net interest income contributed more than $136.9 million, up 22 per cent on-year. Notably, among non-credit activities, service operations recorded particularly strong growth of 51 per cent, generating net income of $12.1 million.

Net profit from other activities maintained its upward momentum, rising 11 per cent to more than $6.2 million. Cumulatively, MSB's profit before tax for the first nine months reached nearly $217.6 million, up 14 per cent on-year, and fulfilling 68 per cent of its full-year target.

Against a backdrop of adjustments in non-interest income streams, MB's service business continued to maintain positive growth momentum, with net income reaching $207.7 million in the first nine months, up 16 per cent on-year.

In addition, foreign exchange trading contributed $18.7 million, while trading in securities generated $21.2 million. Meanwhile, net profit from investment securities trading reached $468,000.

The robust non-interest income streams recorded by numerous banks reflect the results of their strategies to develop comprehensive financial ecosystems.

At MB, this ecosystem encompasses banking, consumer finance, insurance, and securities.

Among its subsidiaries, MB's securities arm, MBS, recorded profit before tax of nearly $45.6 million in the first nine months of 2026, up 11 per cent on-year. Meanwhile, Mcredit and MB Life have yet to release separate business results for the nine-month period, although both delivered very positive performances in the first half of the year.

At VPBank, its subsidiaries and affiliated companies, including VPBank Securities, VPBank SMBC Finance Co., Ltd. (FE Credit) and OPES Insurance Corporation, contributed approximately 16 per cent of the bank's consolidated profit in the first nine months.

Of these, VPBank Securities posted profit before tax of $140.6 million, up 8 per cent on-year, while OPES recorded profit of $36.7 million, more than doubling from a year earlier and reaching 1.4 times its full-year 2025 figure.

In the first half of 2026, FE Credit reported revenue of more than $409.3 million and profit before tax of nearly $6.1 million.

Profits from subsidiaries also made a positive contribution to Techcombank's overall earnings. For instance, Techcom Securities JSC recorded profit before tax of $228.3 million in the first nine months, up 13 per cent from the same period in 2025 and fulfilling 76 per cent of its full-year target.

Dr. Chau Dinh Linh from Ho Chi Minh City University of Banking said that increasing non-interest income was essential for banks amid pressure on net interest margins.

“However, to improve the quality of income streams, banks need to develop services that address genuine market demand, including cash flow management, payments, trade finance, foreign exchange risk hedging, and the development of services that cater to everyday needs,” he said.

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