Profits across major industries experience significant growth in the second quarter

In the second quarter of 2025, Vietnam's economy demonstrated a robust performance, with various sectors posting impressive growth.

Margin lending has emerged as a key growth engine for securities firms, with companies such as VIX Securities, SSI Securities, Saigon-Hanoi Securities, and VNDirect all reporting strong income gains from this segment. Meanwhile, the financial services group recorded an estimated $170 million in after-tax profit in Q2, marking a 43% increase on-year.

The non-financial sector led growth for the fourth consecutive quarter, with net profit rising 41.7% on-year in Q2. The construction and building materials sector was a highlight, with industry leaders such as Hoa Phat Group, Vicem Ha Tien, Binh Minh Plastics, Tien Phong Plastic, and Bien Hoa Building Materials Production and Construction seeing their net profits grow by 39%, 145%, 17.7%, and 35%, respectively. Major contractors like Coteccons and Vinaconex also reported strong revenue and net profit growth, bolstered by a recovering real estate market and accelerated infrastructure investment.

The logistics, export, and utility sectors were clear beneficiaries of favourable market and external conditions. Export-oriented firms and industrial real estate companies recorded impressive net profit growth of 153.6% and 63%, respectively, despite being directly impacted by tariffs. Utilities reported outstanding net profit growth of 72% on-year in Q2, contributing around 12% to overall market profit growth.

Banks under SSI's coverage saw an average pre-tax profit increase of 16.4% on-year in Q2, up from 9.3% in Q1. This was largely driven by VietinBank and VPBank. However, while banks such as VietinBank, ACB, VPBank, and VIB delivered better-than-expected results, others including Sacombank, MBBank, and MSB fell short of forecasts. VietinBank overtook Vietcombank to become the most profitable lender in the sector during Q2, reporting a pre-tax profit of $483.9 million, a 79% increase on-year.

Positive fair value movements in their trading portfolios contributed significantly to the earnings of VIX, Saigon-Hanoi Securities, and Vietcap Securities. Other notable gainers included SHB, ABBank, NCB, and Kienlongbank, with increases of 59%, 222%, 535%, and 67% respectively.

As of August 4, 1,064 listed companies, representing 98.7% of the market's total capitalisation, have released their Q2 financial statements or preliminary business results. The search results do not provide information on which banks in Vietnam missed their pre-tax profit expectations in the second quarter of 2025.

Global business confidence among professional accountants is showing tentative signs of a recovery. The total revenue in Q2 recorded a modest on-year increase of 6.9%. The economy's strong performance is a promising sign, with the recovery showing tentative but significant progress.

Profits across major industries experience significant growth in the second quarter