WORDS ON THE STREET 70th anniversary of Hanoi's Liberation Day Vietnam - Asia 2023 Smart City Summit Hanoi celebrates 15 years of administrative boundary adjustment 12th Vietnam-France decentrialized cooperation conference 31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Economy / Banking & Finance
Vietnam’s exchange-listed firms earn US$13 billion in profits in 2019
Ngoc Thuy 16:33, 2020/03/05
Banking and real estate continue to be the top two sectors in the stock market in terms of profit and growth rate.

Statistics from SSI Research as of February 13 revealed 962 publicly-traded firms, accounting for 95% of the market capitalization in Vietnam’s stock market, earned a combined VND303.06 trillion (US$13.04 billion) in after-tax profit in 2019, up 12.6% year-on-year, VnExpress reported.

 Illustrative photo. 

Such growth spread evenly in all four quarters, but reached its peak in the second quarter.

Banking and real estate continued to be the top two sectors in terms of profit and growth rate.

Specifically, 18 banks listed on the stock market made VND110.66 trillion (US$4.76 billion) in profit, accounting for one third of total profits of all publicly-traded firms. As of the end of 2019, those banks reported VND7,590 trillion (US$326.69 billion) in total assets and VND554 trillion (US$23.84 billion) in equity, up 13.2% and 23.6% year-on-year, respectively.

According to SSI Research, banks’ hefty profits were thanks to net interest income (NII) which stood at VND231.6 trillion (US$9.96 billion), up 22% year-on-year.

Meanwhile, operational costs and settlement of provision of 18 banks expanded at 14.9% and 18.7% year-on-year, respectively, lower than growth rate of operational income at 20.8%.

For property developers, both their revenues and profits increased at a double-digit pace, 11.3% and 32%, respectively, in 2019 to VND307 trillion (US$13.21 billion) and VND56.4 trillion (US$2.42 billion).

In addition to these two fields, telecommunications, car and parts trading were also included in the group with highest growth in profit in the stock market. In contrast, sectors recording negative growth rate in profit in 2019 were communications (down 77.2%), chemicals (down 37.8%) and basic resources (down 26.9%).

RELATED NEWS
TAG: Vietnam public firms HOSE HNX UPCOM real estate banking SSI Research
Other news
22:02, 2024/12/17
Regional, international financial centers mean boosters to Vietnamese economy: Deputy PM
Ho Chi Minh City envisions its financial center encompassing the money market, banking system, capital market, and derivatives market.
15:44, 2024/11/14
IFC sets record with US$1.6 in climate financing to support Vietnam’s green transition
The new commitments aim to bolster Vietnam's shift towards a low-carbon economy while enhancing private-sector resilience and competitiveness.
21:44, 2024/11/11
Vietnam's credit growth up 10% in 10 months
Vietnam’s central bank has set a credit growth target of around 15% this year.
08:08, 2024/10/05
Building Hanoi's smart city with smart banking
In Hanoi's smart city development strategy, smart payment and open banking ecosystems are critically important.
21:34, 2024/09/19
Vietnam stock market clears major legal hurdle to potential upgrade
Starting November 2, foreign investors will no longer be required to pre-fund 100% of their transactions, promising the removal of a major roadblock for Vietnam's market upgrade process.
17:29, 2024/09/01
Cashless parking in Hanoi: Good model fuels smart transport
Hanoi’s leaders believe that all that's left to do is act with the ultimate goal of serving people from smart transportation, armed with the mindset and solutions of a new global vision and thinking.