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Banks dominate Vietnam’s profit makers list
By Minh Son May 12, 2021 | 07:14 am GMT+7
A man withdraws cash from an ATM in Long Bien District, Hanoi. Photo by Shutterstock/Saigoneer.
Seven banks are in the list of Top 10 most profitable listed companies in Q1, recording increases in pre-tax profits.
Topping the list are two stated-owned lenders Vietcombank and VietinBank. The former recorded VND8.6 trillion ($373.9 million) in pre-tax profits, up 65 percent year-on-year, while the latter posted VND8 trillion, up 171 percent.
Another state-owned bank, BIDV, made it to the list at eighth place, with pre-tax profit surging 87 percent to VND3.4 trillion.
The surge for the three state-owned banks follows very low figures recorded in the same period last year as a result of the onset of the Covid-19 pandemic.
Which sectors will post growth in 2021?
By Dat Nguyen December 14, 2020 | 02:59 pm GMT+7
Apartment and office buildings in Hanoi. Photo by Shutterstock/French Jessica Lee.
Housing, industrial real estate, seafood, power, and steel are the sectors expected to see growth next year as the economy recovers from the effects of Covid-19.
Demand for mid-priced apartments in Hanoi and Ho Chi Minh City due to a shortage will continue to drive the growth of the housing sector next year, financial services data provider FiinGroup said in a recent note.
Market leader Vinhomes, which accounts for two thirds of the sector’s profits, is likely to see revenues grow with the scheduled launch of three major projects in the two cities.