Two Vietnamese Private Banks Each Exceed VND 10 Trillion in Third Quarter Pretax Profit
Consolidated financial statements show that VPBank and Techcombank recorded pretax profits of VND 11.031 trillion and VND 10.375 trillion, respectively, in the third quarter of 2026. Both exceeded VND 10 trillion. By the end of September, they also ranked among Vietnam’s leading private banks in total assets and equity.
In the third quarter of 2026, VPBank recorded consolidated pretax profit of VND 11.031 trillion, while Techcombank recorded VND 10.375 trillion. At the time, they were the only private banks in Vietnam with quarterly pretax profit above VND 10 trillion. ACB, ranked third, posted pretax profit of VND 5.879 trillion. VPBank and Techcombank’s combined profit exceeded VND 21.4 trillion, more than the combined profit of the next four banks.
Competition between VPBank and Techcombank in Vietnam’s private banking sector.（VietVance）
In the first nine months of 2026, VPBank’s pretax profit approached VND 30 trillion and Techcombank’s approached VND 28.9 trillion, both above HDBank’s VND 18.4 trillion. Techcombank’s pretax profit was approximately VND 27.5 trillion in 2024 and VND 32.5 trillion in 2025; VPBank’s exceeded VND 20 trillion and VND 30.6 trillion in those years, respectively.
The gap also extended to assets and capital. At the end of September 2026, VPBank’s total assets exceeded VND 1,600 trillion, while Techcombank’s exceeded VND 1,300 trillion. On September 30, their equity stood at VND 200.078 trillion and VND 197.325 trillion, respectively, compared with VND 104.013 trillion for ACB, which ranked next.
The two banks have different business strategies. Techcombank has expanded payment, securities and wealth management services for businesses and high income clients. VPBank serves retail customers, small and medium sized enterprises, and the consumer finance market, while expanding securities and insurance services through its businesses. In the first nine months of 2026, VPBank’s total operating income exceeded VND 65 trillion, about 45% higher than Techcombank’s, yet the two banks’ pretax profits were similar. During the same period, VPBank’s credit risk provisions amounted to more than 42% of its profit before provisions, compared with approximately 8% at Techcombank.
Source: VietVance
