Which securities companies and banks are in the top of the best profitable enterprises?

3 min read

Top 500 best profitable enterprises in 2020 are announced according to 2 lists: Top 500 best profitable enterprises in 2020 and Top 500 best profitable private enterprises in 2020.

Top best profitable banks

Top 500 enterprises with the best profit in 2020 announced by VNR appeared 30 names from the banking industry. In which, ranked 4th in the top 500 as well as the first position in the group of banks is the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank).

Followed by Vietnam Bank for Agriculture and Rural Development (Agribank) at No. 8 and Vietnam Technological and Commercial Joint Stock Bank (Techcombank) at No. 9 in the top 500.

In addition, a number of other banks such as VietinBank, BIDV, VPBank, MBBank and ACB ranked 12, 14, 15, 17 and 20 respectively in the top 500 most profitable enterprises in 2020.

The 3 main criteria that VNR assesses businesses are profit before tax, total revenue and profit before tax / total revenue, refer to the criteria of asset size, labor size, potential growth in revenue, profit and reputation in corporate communications.

In the list of 500 most profitable private enterprises, ranked 2nd in the top 500 and at the top of the banking industry is Techcombank.

The next banks in the top 10 out of 500 enterprises are VPBank at 4th, MBBank at 5th, ACB at 7th, and HDBank at 10th.

In addition, VIB and TPBank ranked 17th and 18th respectively on the list.

The first half of 2020 is a difficult first time for banks in a series of periods negatively affected by the Covid-19 translation. Vietcombank – the leading bank in the top 500 most profitable enterprises in 2020, recorded a slight decrease of profit before tax in the first 6 months of the year by nearly 3% over the same period in 2019, reaching nearly 11,000 billion VND.

Similarly, although Agribank is in a high position in the top 500, the pre-tax profit in the first 6 months of the year also decreased by more than 13% compared to the same period in 2019, reaching more than VND 6,700 billion.

In contrast, Techcombank said the bank’s pre-tax profit in the first half of the year increased by nearly 20% to more than VND 6,700 billion. ACB also recorded a 5.4% increase in pre-tax profit over the same period, reaching over VND 3,800 billion.

According to SSI Securities Company, state-owned banks are under more pressure from the State Bank to support clients during the pandemic.

Meanwhile, private banks still have a certain amount of room to balance customer support and ensure reasonable profits. But by 2021, when the state-owned bank completes its current customer support, profits will bounce back by 22.6% compared to 11.2% for the private bank group.

Top best profitable securities companies

The list of 500 best profitable enterprises announced by VNR has 15 securities companies honored. In which, Techcom Securities (TCBS) ranked 64th in the top 500, equivalent to the first position in the group of securities companies.

TCBS was introduced by VNR as one of the largest securities companies in Vietnam, was established in 2008. TCBS is a subsidiary of Techcombank – a bank ranked ninth in the top 500 profitable enterprises the best year in 2020. TCBS’s pre-tax profit in the first 6 months of the year doubled over the same period in 2019, reaching more than 1,200 billion.

At 96th in the top 500 as well as 2nd in the group of securities companies is SSI Securities Joint Stock Company – one of the oldest securities firms in the Vietnamese stock market. Profit before tax in the first 6 months of the year also recorded strong growth with an increase of nearly 30% over the same period, reaching nearly 660 billion VND.

The next positions belonged to familiar names such as Viet Capital Securities Joint Stock Company (position 121), VPS Securities Joint Stock Company (position 172), City Securities Joint Stock Company. HCM (HSC – position 181), VNDirect Securities Joint Stock Company (position 195).

In the list of the 500 most profitable private enterprises in 2020, TCBS, SSI, Ban Viet Securities, and VPS ranked 28, 45, 60 and 82, respectively.

In addition, HSC and VNDirect also followed at positions 88 and 95.

Source: vietnamfinance.vn – Translated by fintel.vn