NCB (NVB) 9M2026 Profit Up 141% as 18 Banks Post VND 141.6 Trillion

Overview

Ngân hàng TMCP Quốc Dân (NCB, ticker NVB on HNX) reported 9M2026 pre-tax profit of nearly VND 1,574 billion, up 141% year on year, the highest nine-month figure since the bank was established. The result came alongside disclosures from VIB (up 8% to VND 7,600 billion) and TPBank (up 23.4% to VND 7,464 billion), bringing the count of listed banks that have reported 9M2026 results to 18, with combined pre-tax profit of close to VND 141,600 billion.

Key Facts

• NCB 9M2026 pre-tax profit: nearly VND 1,574 billion, +141% year on year; Q3 alone VND 847 billion, +66% quarter on quarter and +346% year on year.
• NCB 9M2026 net interest income: over VND 3,333.8 billion, +71%; total operating income over VND 3,942.2 billion, +74%.
• NCB total assets at 30 September 2026: nearly VND 238,221 billion, +46% since 31 December 2025; customer loans over VND 150,661 billion, up more than VND 53,116 billion.
• VIB 9M2026 pre-tax profit: nearly VND 7,600 billion, +8%, equal to 65% of the full-year plan; ROE 16.2%; NPL ratio 2.29%.
• VIB total operating income: over VND 17,300 billion, +18%; operating costs down 2% to over VND 5,300 billion; credit provisions over VND 4,300 billion.
• TPBank 9M2026 profit: VND 7,464 billion, +23.4%, equal to nearly 81% of full-year 2025 profit and 72% of the 2026 plan.
• Aggregate 9M2026 pre-tax profit across the 18 reporting banks: close to VND 141,600 billion.

What Happened

According to third-quarter 2026 financial statements cited in the report, NCB’s growth came from core operations rather than one-off items. Net interest income rose 71% to more than VND 3,333.8 billion over the nine months, while total operating income reached over VND 3,942.2 billion, up more than 74%. In the third quarter alone, total operating income exceeded VND 1,837 billion, up nearly 141.5% year on year. The balance sheet expanded sharply: total assets reached nearly VND 238,221 billion at 30 September 2026, up 46% from end-2025, and customer loans rose by more than VND 53,116 billion over the same period.

VIB reported total assets of nearly VND 600,000 billion, up 8% since the start of the year, and credit outstanding of more than VND 411,000 billion, also up 8%. Nine-month total operating income reached over VND 17,300 billion, up 18%, with non-interest income contributing 23% of the total, while operating costs fell 2% to over VND 5,300 billion. The bank set aside more than VND 4,300 billion in credit provisions, holding its NPL ratio at 2.29%, and reported a Basel III SA capital adequacy ratio above 11%, an LDR of 77% and an NSFR of 102%. TPBank’s VND 7,464 billion profit, up 23.4%, was supported by net interest income growth and continued positive non-interest income contributions; the filing does not disclose the full breakdown of that line in the excerpt reviewed.

Market Context

NCB trades on HNX and closed at VND 14,700 on 28 October 2026, while VIB and TPBank, both listed on HOSE, closed at VND 14,150 and VND 13,000 respectively. All three sit in the mid-cap segment of the Vietnamese banking sector, where the 9M2026 reporting season has so far shown a wide dispersion of outcomes: NCB’s 141% growth stands far above the single-digit expansion at VIB and the low-twenties growth at TPBank. The aggregate VND 141,600 billion reported by 18 banks indicates sector earnings are still expanding, but the spread between restructured smaller banks and established mid-tier lenders is widening.

Strategic Significance

For NCB, the 141% jump is less about the absolute profit level than about the shape of the recovery: net interest income growth of 71% and a 46% expansion in total assets suggest the bank is rebuilding its core lending franchise after a prolonged restructuring period. The durability of that trajectory depends on whether the loan growth was underwritten at adequate yields and whether asset quality holds as the book seasons. VIB’s result shows a different model: double-digit income growth with falling operating costs and heavy provisioning, which supports earnings quality but caps near-term profit growth at 8% and leaves 35% of the annual plan to be delivered in the fourth quarter. TPBank’s 72% plan completion gives it the widest buffer of the three.

What to Watch

• NCB’s Q4 2026 and full-year 2026 results, and whether net interest margin holds after the 53% year-to-date loan expansion.
• Asset quality disclosures for NCB, including NPL formation and provisioning coverage, which the excerpt reviewed does not detail.
• VIB’s Q4 delivery against the remaining 35% of its 2026 profit plan, alongside any change in its VND 4,300 billion provisioning run-rate.
• TPBank’s full 9M2026 income breakdown and the remaining 28% of its 2026 plan.
• Further 9M2026 disclosures from the remaining listed banks, which will complete the sector aggregate beyond the current 18.