Commercial banks have recorded lower profit during the third quarter of the year with the underlying cause being the fourth outbreak of the novel coronavirus, which resulted in lockdowns in major cities and provinces across the country.
In the first quarter of this year, all local banks reported high profit growth amid the impact of the COVID-19 pandemic. However, the profit growth does not reflect the complete economic picture, according to banking insiders.
Profit growth of Vietnamese banks in 2019 would be lower than the previous year, but still at a positive level, analysts from the Viet Dragon Securities Company (VDSC) forecast.
National Commercial Bank (NCB) in 2016 posted net profit of VND210 billion, increasing 90.9 per cent from the previous year and five times higher than before its restructure in 2013.
