VietinBank CTG Q1 2026 Profit Surges 63% to VND 11.1 Trillion, Leads Banking Sector

Overview

VietinBank (CTG) posted a 63% year-on-year increase in Q1 2026 pre-tax profit to VND 11,139 billion, leading the Vietnamese banking sector in earnings. The strong performance was accompanied by improved asset quality, with the NPL ratio declining to 1.02%. Other major banks including MB (MBB), BIDV (BID), Techcombank (TCB), and VPBank (VPB) also reported robust results, though VietinBank’s growth rate stood out.

Key Facts

• VietinBank Q1 2026 pre-tax profit: VND 11,139 billion, up 63% YoY.
• Total assets reached VND 2.92 quadrillion, up 5.7% from the start of the year.
• Customer loans exceeded VND 2 quadrillion, up 1.8%.
• Customer deposits stood at VND 1.82 quadrillion, up 1.7%.
• NPL ratio improved to 1.02% from 1.1% at end-2025.
• Doubtful debts (Group 4) fell sharply to VND 11,913 billion from VND 19,846 billion.
• 15 banks have reported Q1 2026 results; Vietcombank (VCB) has not yet disclosed.

What Happened

VietinBank released its Q1 2026 financial statements on the evening of April 28, 2026, showing a 63% surge in pre-tax profit to VND 11,139 billion, the highest among the 15 banks that have reported so far. The bank’s total assets grew 5.7% to VND 2.92 quadrillion, while customer loans crossed the VND 2 quadrillion mark. Deposits increased modestly by 1.7%.

Asset quality improved significantly: the NPL ratio fell from 1.1% to 1.02%, and the absolute amount of bad debts with potential for loss (Group 5) dropped from VND 19,846 billion to VND 11,913 billion. Other banks also posted strong results: MB earned VND 9,628 billion, BIDV reported a 22% rise in NPLs, Techcombank achieved a record Q1 profit of VND 8,869 billion, and VPBank saw credit growth of 10.2%.

Market Context

VietinBank (CTG) shares closed at VND 35,000 on April 15, 2026, unchanged from the prior session, with volume of 4.9 million shares on HOSE. The broader banking sector has been under pressure from rising funding costs and margin compression, but VietinBank’s profit growth and NPL improvement may provide a positive catalyst. Peer banks MBB, BID, and TCB also saw slight declines in recent trading, reflecting cautious market sentiment.

Strategic Significance

VietinBank’s strong Q1 performance underscores its ability to expand earnings while improving asset quality, a key differentiator in a competitive banking environment. The sharp reduction in doubtful debts suggests effective credit risk management, which could support a lower cost of risk going forward. As one of Vietnam’s largest state-owned banks, VietinBank’s results also signal resilience in the broader economy, particularly in corporate lending. The bank’s leading profit position may attract foreign investor interest, especially if the trend continues.

What to Watch

• Vietcombank’s Q1 2026 results, expected soon, to complete the picture for the Big 4 banks.
• Full-year 2026 profit guidance from VietinBank at the upcoming annual general meeting.
• NPL ratio trajectory for the sector, especially if credit growth accelerates.
• Net interest margin (NIM) trends amid rising deposit competition.
• Foreign ownership limits and any changes in CTG’s free float.