10 private lenders contribute over VNĐ36.8 trillion to State budget

July 30, 2024 - 13:23

These banks injected more than VNĐ1 trillion each to the state budget last year.

Several banks within the top ten have doubled their state budget contributions compared to the previous year. — Photo bnews.vn

HÀ NỘI — Despite a challenging year in 2023, the banking industry still performed positively, with numerous private commercial banks contributing over VNĐ1 trillion (US$40 million) to the state budget.

Among them, the top ten lenders making significant contributions are Techcombank, VPBank, Asia Commercial Joint Stock Bank (ACB), Vietnam International Commercial Joint Stock Bank (VIB), SAHABANK (SHB), HDBank, TPBank, Sacombank, Vietnam Maritime Commercial Joint Stock Bank (MSB) and LPBank, data compiled by cafef.vn shows.

These banks collectively contributed over VNĐ36.8 trillion to the State budget in 2023, marking a substantial increase of over VNĐ10.7 trillion from the previous year.

This amount represents more than 32 per cent of the combined profits before tax of these banks.

Several banks within the top ten have effectively doubled their state budget contributions compared to the previous year, injecting billions of đồng into the national treasury.

These major state budget allocations serve as a testament to the stability and growth of these financial institutions, instilling confidence among investors and clients alike. This, in turn, propels the sustainable advancement of the banking sector.

In 2023, Việt Nam encountered significant economic challenges, notably affecting its banking sector.

Banks grappled with prolonged liquidity and corporate bond crises from late 2022 into early 2023, impacting operations throughout the year.

Economic growth slowed, credit demand dropped and customer financial health weakened, leading banks to face difficulties in customer relations and debt recovery. Despite these obstacles, banks remained prominent profit earners in the economy.

The PROFIT500 ranking for 2023 highlighted the banking sector, with six of the top ten most profitable enterprises in Việt Nam and seven of the top ten most profitable private enterprises. — VNS

H1 State budget revenue increases over 17%: MoF

More than VNĐ1 quadrillion (US$40.9 billion) was collected for the State budget in the first half of 2024, equivalent to 61 per cent of this year’s target and up 17.7 per cent from a year earlier, reported the Ministry of Finance (MoF).

Economy

State budget revenues from import-export grow 7.4% in five months

Total state budget revenue from import-export activities reached almost VNĐ165.7 trillion (nearly US$6.63 billion) in the first five months of 2024, equivalent to 44.2 per cent of the assigned estimate and marking 7.4 per cent growth compared to the same period last year.

Economy

Tax sector sees 10.7% rise in State budget revenue in four months

Total State budget collection in the first four months of this year was estimated at VNĐ640.29 trillion (US$25.20 billion), equivalent to 43 per cent of the yearly projection, representing a year-on-year rise of 10.7 per cent, according to the General Department of Taxation.

Economy

State budget revenue from exports, imports down 4.2% in Q1

State budget revenue from exports and imports in the first quarter of this year reached VNĐ88.35 trillion (US$3.53 billion), equivalent to 26.3% of the estimate, and down 4.2% year-on-year, the General Department of Vietnam Customs reported on April 3.

Economy

State budget revenue from exports-imports down 2.4% in two months

The State budget revenue from export-import activities in the first two months of this year reached VNĐ56.42 trillion (US$2.35 billion), or 15% of the estimate, down 2.4% year on year, reported the General Department of Customs.

Economy

State budget revenue from imports, exports up 13.2 per cent in January

Total export-import value in the first month of the year was estimated at $64.22 billion, a rise of 5.5 per cent month-on-month.

MM Mega Market recognised among the 'Top 100 Best Places to Work in Việt Nam 2024'

Economy

Green lifestyle changes drive people towards ethanol fuel

Economy

World Bank outlines path for Việt Nam to reach high income status

Economy

Việt Nam vows to create favourable conditions for Korean investors

Economy

Aeon Mall to be built in Cần Thơ City

Economy

Cyberattack risks surge with AI advancements

More on this story

Economy

Industry talks up prospects for wood exports

Việt Nam's wood and wood product exports are expected to boom in the second half of this year amid positive signs from the global economy, according to industry insiders.

Economy

IIP sees positive growth pace in July

The GSO said the IIP in the first seven months of this year soared 8.5 per cent year-on-year.

Economy

Policies needed to attract retired travellers: industry experts

The market segment, consisting of big spenders who often prefer longer stays, has been considered lucrative. Retirees from the Americas, Europe, and Asia have been looking for residences abroad with favourable weather, access to healthcare services, visas and affordable living costs.

Economy

Vietnamese stock market sees remarkable 24-year transformation

It has experienced robust development, with thousands of companies now listed and their shares actively traded, while the market's capitalisation has grown tremendously.

Economy

CPI rose 0.48 per cent in July after base salary increases

The consumer price index (CPI) rose 0.48 per cent in July on rising domestic petrol prices, higher demand for electricity and higher health insurance premiums following a 30 per cent increase in base salary from the beginning of this month, data of the General Statistics Office (GSO) showed.

Economy

New law promotes real estate-related bad debt settlement

Instead of having to transfer all of a real estate project as collateral to recover bad debts, banks will have the right to transfer part of the project.

Economy

Ministry, firms need solutions to remove difficulties in coal imports from Laos

According to Việt Nam's General Department of Customs, in 2023, Việt Nam imported about 2.2 million tonnes of coal from Laos with a value of about US$159 million.

Economy

Market continues recovery while liquidity still remains low

On the Hồ Chí Minh Stock Exchange (HoSE), the benchmark VN-Index increased by 4.49 points, or 0.36 per cent, to 1,246.6 points, marking a second consecutive trading day of gains.

Economy

Women leaders in cooperatives take centre stage in Hà Nội summit

The annual Asia-Pacific Women CEOs in Cooperatives Summit, held as part of the International Cooperative Alliance Asia-Pacific (ICA-AP) Regional Board Meeting, carries the theme "Empowering Leadership: Navigating the Future of Cooperatives with Women at the Helm".