Banking, real estate sectors post high profits

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Most sectors saw profits grow last year in Vietnam, led by banking, real estate and food & beverage. The banking sector recorded the highest after tax profits of all sectors at VND68.01 trillion ($2.92 billion), up 31.3 percent over 2017, according to a recent report by the Saigon Securities Inc (SSI). It also accounted for 25 percent of total profit made by all sectors. Vietcombank remained the most profitable bank with a 61 percent rise in after tax profits over 2017 to VND14.64 trillion ($629 million), according to financial database provider FiinPro.
Techcombank followed with VND8.46 trillion ($363.48 million), up 31 percent, and BIDV came third with VND7.36 trillion ($316.22 million), up 8 percent. The real estate sector enjoyed the second highest after tax profits among all sectors at VND43.33 trillion ($1.86 billion), up 78 percent from 2017 and accounting for 16 percent of total profit from all sectors, the SSI report said. The food and beverage sector came third at VND33.17 trillion ($1.42 billion), up 13 percent, following by industrial products and services at VND32.52 trillion ($1.39 billion), up 21.3 percent.