Illustrative image (Source: VNA) Hanoi (VNS/VNA) — Commercial banks will hold annualgeneral meetings of shareholders (AGM) next quarter to map out production andbusiness plans for 2023.
Documents prepared for the upcoming AGMs show somebanks are cautious about profit targets set for this year.
Nam A Bank set a target of consolidated pre-tax profitof 2.4 trillion VND (101.160 million USD) this year, an increase of only 5-6%compared to last year. In 2022, the bank recorded a pre-tax profit of nearly 2.27trillion VND, up 26.1% over the previous year, close to the bank’s set targetof 2.25 trillion VND.
Vietnam International Bank (VIB) expects pre-tax profit in 2023 toreach 12.2 trillion VND, up 15.3% compared to 2022. Although 2023’s profit isexpected to still increase by a double-digit figure, the growth rate decreasesby half compared to last year's profit plan. Last year, VIB set a target toincrease profit by 31% compared to 2021.
Earlier, Vietcombank’s leaders said the bank aims to increase its2023 pre-tax profit by at least 12% compared to 2022. In 2022, Vietcombankrecorded a 39% increase in pre-tax profit, up 19% against the yearly settarget.
Eximbank late last year announced its business plan for 2023 witha pre-tax profit target of 5 trillion VND, up 35% compared to last year’sfigure of 3.7 trillion VND.
An SBV Q1 2023 business performance survey also showedcommercial banks were more cautious when forecasting.
According to the survey, only more than half of banksexpect their business performance to improve in 2023, but the improvementis lower compared to 2022.
Experts also forecast the banking industry will continue to facedifficulties in 2023 in the context of the real estate market downtrend and theless positive import and export outlook./.
