Q1 banking profits diverge with selective upside

Banking brands contend with rising expectations

- By Ha Truc

First-quarter banking profits are in positive territory but with a sharp divergence, as lenders with low funding costs, clean asset quality, or distinct catalysts from restructuring and one-off income streams pull ahead.

At Asia Commercial Joint Stock Bank’s AGM on April 9, CEO Tu Tien Phat revealed that consolidated pretax profit for the first quarter reached approximately $216 million, up 17 per cent on-year and surging 56 per cent on-quarter.

Earlier, at its AGM on March 20, Nam A Bank reported first-quarter pretax profit of over $64.8 million, marking a 32.5 per cent increase compared to the same period in 2025.

The AGM season is expected to peak from April 20, with growing attention on first-quarter earnings following a notable shift in credit policy, as the State Bank of Vietnam requires credit growth in the first three months to remain within 25 per cent of the full-year target, alongside tighter controls on lending to high-risk sectors, particularly real estate.