16 banks on the list
The profit in the third quarter of 2025 witnessed the dominance of the banking group with the first 7 positions in the rankings, while many real estate, industrial and technology enterprises recorded impressive leaks.
In the last quarter, the whole market had 36 enterprises reporting net profit exceeding VND1,000 billion. Of which, 16 banking enterprises lead in scale, followed by real estate, industrial - manufacturing, technology - telecommunications, securities, consumer goods and energy groups.
Vietcombank (VCB) continues to lead the entire market with net interest of VND9,020 billion, up 5.3% over the same period. Accumulated in the first 9 months of the year, this state-owned "big guy" reached VND26,549 billion, equivalent to nearly 76% of the annual plan.
Right behind is VietinBank (CTG) with a profit of VND 8,449 billion, up to 62%, thanks to good credit growth and a sharp decrease in provisioning costs.
Next was VPBank (VPB), recording an interest rate increase of more than 80%, reaching VND 7,275 billion. The momentum came from credit growth of 28.4%, deposit mobilization and consolidated documents also increased by 25%.
The following banks maintained positive results: Techcombank (TCB) with a profit of VND 6,419 billion, up 11.8% over the third quarter of 2024. Accumulated for the first 9 months, the bank achieved VND18,615 billion in profit, up 2.5% over the same period.
BIDV (BID) achieved a profit of VND 5,953 billion, up 15.6%, with the accumulated 9-month banking report of VND 18,548 billion, up 7%. MB (MBB) reported a profit of VND 5,571 billion, down 3.8% over the same period. Accumulated for the first 9 months, profit still reached VND18,016 billion, up 10.2%. ACB recorded a profit of VND 4,281 billion, up 10.6% over the same period, accumulated for 9 months reached VND 12,840 billion, up 4.8%. HDBank (HDB) achieved a profit of VND 3,647 billion, up 6.5% over the same period; accumulated for 9 months reached VND 11,369 billion, up 18%.
In the mid-range banking group, STB earned VND2,901 billion, up 32%; LPB earned VND2,762 billion, up 18.5%; accumulated for the first 9 months reached VND7,692 billion, up 9%. SHB reached VND 2,607 billion, up 49.8%; accumulated for 9 months reached VND 9,750 billion, up 34.7%. VIB reached VND 1,625 billion, up 13.5%; accumulated for 9 months reached VND 5,637 billion, up 6.7%.
TPBank (TPB) recorded VND 1,521 billion, up 9.9%; accumulated for 9 months reached VND 4,837 billion, up 10.7%. OCB had a profit of VND 1,247 billion, up 5%; accumulated for 9 months reached VND 3,733 billion, up 3.3%. MSB reached VND 1,274 billion, up 30.2%; accumulated for 9 months reached VND 3,777 billion, down slightly by 3.21%. NAB reached VND 1,031 billion, up 18.5%; accumulated for 9 months reached VND 3,042 billion, up 15%.
In general, the banking industry accounts for 16/36 enterprises, equivalent to 44% of the total, continuing to be the "backbone" of the entire market's profits.
Real estate, industry and retail accelerate
Vinhomes (VHM) is the only non-financial representative in the top 10, although the profit is only VND 4,184 billion, down nearly half compared to the same period. However, unrecorded sales by the end of September still reached a record of VND223,937 billion, up 93% over the same period last year, promising to record a large source of revenue in the future.
The industrial group recorded the strong return of Hoa Phat (HPG) with a profit of VND 3,988 billion, up 32% - the highest in the last two years, completing 78% of the annual plan. The Dung Quat 2 project has been completely completed, along with the steel and steel rolling factory being implemented on schedule.
VEA Automobile and Motorcycle Group earned VND 1,799 billion, up 8.9%; GVR Rubber earned VND 101% to VND 1,897 billion; Sabeco (SAB) earned VND 21.5% to VND 1,361 billion, while Masan Consumer (MCH) earned nearly 20% to VND 1,676 billion.
The retail distribution industry also flourished with MWG profit reaching VND 1,771 billion, up 121%; while Vincom Retail (VRE) reached VND 1,376 billion, up 52%, benefiting from a recovery in shopping demand and a sharp increase in customer base at shopping malls.
Technology, telecommunications and securities break out
The technology - telecommunications group recorded a clear rise. Viettel Global (VGI) achieved a profit of VND 3,626 billion, an increase of about 20 times over the same period last year. FPT continues to maintain a stable performance with VND 2,435 billion, up 16%, thanks to growth in digital transformation and software services.
The vibrant stock market brings record profits from brokerage companies. VIX leads with VND 2,449 billion, 8.2 times higher than the same period; TCX reaches VND 1,620 billion (up 84%); SSI benefits VND 1,475 billion, up 85%. All three companies are in the group of securities enterprises with the most impressive business results since 2021.
Construction, energy, aviation and other sectors remain active
The construction industry has two representatives, Vinaconex (VCG) and ACV. Of which, Vinaconex recorded the strongest leap, 41 times higher than the same period, reaching VND 3,282 billion, thanks to a large profit from Vinaconex ITC divestment. ACV reached VND 2,767 billion, up 18%, continuing to lead the airport services segment.
The energy - oil and gas industry has PV Gas (GAS) with 2,549 billion VND in profit, up slightly by 15% over the same period.
In the industrial and manufacturing sector, GEG recorded a profit of VND 1,744 billion, up 4.5 times over the same period last year; while Vinamilk (VNM) reached VND 2,527 billion, up 5%. Sunshine Group (KSF) attracted attention when its profit increased by 50 times, reaching VND 1,358 billion; This development shows that profits are not only concentrated in the banking group but have spread to many manufacturing and investment industries.
The picture of the third quarter of 2025 shows that cash flow and profits are concentrating back to the group of large enterprises with strong financial foundations, especially banking, real estate and industrial production - sectors that still play a pivotal role in economic recovery and growth of the Vietnamese stock market.
