Vietcombank Q3 2026: 9M Pre-Tax Profit VND 40,440B (+22.1%) Leads 27 Banks

Overview

Vietcombank (VCB, HOSE) reported nine-month 2026 pre-tax profit of VND 40,440 billion, up 22.1% year on year, the highest among 27 Vietnamese banks tracked in a Q3 earnings roundup published on 31 October 2026. The headline growth masks a flat third quarter: VCB’s Q3 standalone pre-tax profit of VND 11,218 billion was almost unchanged from Q3 2025, with the nine-month gain concentrated in the first half. VietinBank (CTG) closed the gap to under VND 900 billion.

Key Facts

• Vietcombank 9M 2026 pre-tax profit: VND 40,440 billion, +22.1% year on year, the highest of the 27 banks surveyed.
• VCB Q3 2026 standalone pre-tax profit: VND 11,218 billion, nearly flat versus Q3 2025.
• VietinBank 9M pre-tax profit: VND 39,557 billion, +33.9%, trailing VCB by less than VND 900 billion.
• VietinBank Q3 pre-tax profit: VND 13,689 billion, +29%, the highest Q3 figure among banks that had reported.
• BIDV 9M pre-tax profit: VND 29,483 billion, +24.8%; Q3 alone VND 10,579 billion, +39.3%.
• MB 9M VND 30,518 billion (+31.9%), VPBank VND 29,911 billion (+46.7%), Techcombank VND 28,915 billion (+23.7%); all three posted Q3 pre-tax profit above VND 10,000 billion.
• Decliners: Sacombank 9M VND 5,893 billion (-46.4%), Eximbank VND 864 billion (-57.8%), Saigonbank VND 65.9 billion (-74.5%).

What Happened

The roundup, compiled from bank disclosures and published on the morning of 31 October 2026, shows six banks earning more than VND 10,000 billion in pre-tax profit in Q3 alone. Vietcombank retained the nine-month crown, but its flat third quarter contrasts with faster-growing peers. VietinBank’s Q3 profit of VND 13,689 billion rose 29%, supported by nine-month net interest income of VND 61,931 billion (+27.7%), net fee income of VND 6,602 billion (+42.5%), and credit risk provisioning of VND 20,781 billion (+22.6%).

BIDV’s Q3 pre-tax profit rose 39.3% to VND 10,579 billion, helped by a 12.4% increase in quarterly net interest income to VND 17,056 billion and a 25% reduction in credit risk provisioning to VND 4,640 billion. Among smaller banks, NCB posted nine-month pre-tax profit of VND 1,574 billion, 2.4 times the prior year, with Q3 profit of VND 847 billion, 4.4 times Q3 2025. ABBank rose 85.5% over nine months. Sacombank, Eximbank and Saigonbank were the notable decliners. The article does not disclose the full profit figures for every one of the 27 banks.

Market Context

VCB closed at VND 56 on 30 October 2026, down 1.57% on volume of 3,621,700 shares, on the HOSE exchange. Peer closes that day were BID at VND 33,400, CTG at VND 30,300 and MBB at VND 19,300. The results arrive as Vietnamese bank earnings broadly accelerate, with state-owned lenders and mid-tier private banks alike posting double-digit nine-month growth, while a handful of smaller and restructuring names lag. The divergence between VCB’s flat Q3 and VietinBank’s 29% quarterly growth is the key intra-sector signal in this reporting season.

Strategic Significance

For long-term holders, the roundup reframes VCB’s position. Its premium valuation has rested on consistent, sector-leading profitability; a flat third quarter and a narrowing gap to VietinBank suggest the earnings lead is now sustained by first-half momentum rather than current-quarter outperformance. VietinBank’s combination of strong net interest income, fee growth and higher provisioning points to a bank building buffers while still expanding. BIDV’s lower provisioning and faster Q3 growth indicate room for credit-cost normalization. The sharp declines at Sacombank and Eximbank highlight how balance-sheet cleanup and provisioning cycles can overwhelm sector-wide tailwinds.

What to Watch

• Vietcombank’s Q4 2026 results and whether Q3’s flat profit marks a trend or a one-quarter pause.
• Full-year guidance updates from VCB and CTG, and whether VietinBank overtakes VCB on nine-month or full-year pre-tax profit.
• Credit growth and provisioning disclosures in Q4 filings, particularly BIDV’s reduced provisioning trajectory.
• Any State Bank of Vietnam policy signals on credit quotas and interest rates affecting net interest margins.
• Foreign-ownership and block-trade filings for VCB, given its weight in the index and state ownership structure.