Vietnam Top 10 Most Profitable Companies in 2019: Who is who?

26-Nov-2019 Intellasia | VNS | 6:02 AM Print This Post

Vietnam Report has released its Vietnam Profit 500 with a number of categories like Top 10 Most Profitable Companies, Top 15 Most Profitable Private Companies and Top 10 Most Profitable Companies in Banking, and Finance and Securities.

This year’s Vietnam Profit 50 honours major groups and corporations, including Petrolimex, Samsung, Viettel, Vingroup, Vinamilk, and Vietjet.

The Top 10 Most Profitable Banks includes Vietcombank, Vietinbank, Techcombank, VPBank, HDBank, MB, and ACB.

According to the report, the inclusion and ranking of the companies in this list are objectively and independently based on the weighted score of several main indicators reflecting their profitability such as ROA, ROE, ROR, pre-tax profit and revenue.

The companies appearing in Vietnam Profit 500 were capable of generating healthy profits and contributing to the overall economic development of Vietnam, thus supporting the promotion of Vietnamese brands both at home and abroad.

In the 2019 Vietnam Top 10 Most Profitable Companies in Banking, Finance and Securities, banks continue to be in the spotlight as the thousand billion club is in permanent churn with Techcombank, MBBank, VPBank, and even the emerging star HDBank on the rise.

Vietcombank extends its reign after amassing consolidated profit before tax of over VND17.59 trillion (US$758.93 million) in the first nine months of the year, a 50.6 per cent surge year-on-year and 85.8 per cent of its target for this year.

Separate profit before tax jumped 51.9 per cent to VND17.25 trillion, 85.4 per cent of its target.

Its ROE and ROE stood at 1.65 per cent and 27.75 per cent, well above the industry average and marking a significant increase from 2018.

Following in second and third places in this ranking are Agribank and Techcombank.

Despite being a State-owned bank and reporting unflattering business results in previous years compared to other public banks, Agribank posted VND9.7 trillion ($418.7 million) in profit before tax for the first nine months of the year, 88 per cent of the 2019 target and higher than full-year profit in 2018.

Techcombank reported VND8.86 trillion ($382.46 million) in profit before tax, a 14 per cent increase.

In the third quarter, its profit before tax surged 24 per cent year-on-year to VND3.198 trillion.

http://bizhub.vn/banking/vietnam-top-10-most-profitable-companies-in-2019-who-is-who_311204.html

 


Category: Business, Vietnam

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