Foreign banks HSBC and Shinhan in Vietnam report profit decline

(Dan Tri) - While domestic banks reported massive increases in profits, HSBC and Shinhan Vietnam reported decreases in profits. HSBC Vietnam reported a decrease of more than 9%, while Shinhan Bank Vietnam reported a decrease of 12%.

HSBC Bank Vietnam Limited (HSBC Vietnam) has just announced its financial report for the first half of 2025. The report recorded net interest income of VND 2,888 billion, lower than VND 3,179 billion in the same period.

In addition, net profit from services decreased by more than 10%, while trading securities recorded a loss of more than VND1.7 billion.

On the other hand, some segments recorded positive results. Specifically, foreign exchange trading activities brought in VND517 billion, up more than 50% over the same period. Other business activities reached VND133 billion, up slightly more than 5%.

During the period, total operating expenses increased sharply by more than 12% to VND1,865 billion, although the bank cut risk provisioning expenses by nearly 70% compared to the same period.

HSBC’s net operating profit has fallen significantly. In the first half of the year, the bank reported pre-tax profit of more than VND2,030 billion, down more than 9% compared to the same period last year.

As of June 30, HSBC's total assets reached VND134,062 billion, a slight decrease compared to the beginning of the year. Of which, customer deposits were nearly VND108,800 billion, down nearly 5%. Outstanding customer loans also decreased by nearly 5%, to more than VND65,559 billion.

Foreign banks HSBC and Shinhan in Vietnam reported a decrease in profits (Photo: DT).

Another foreign bank, Shinhan Vietnam (Shinhan Bank Vietnam), also announced its 2025 semi-annual financial report with declining profits.

During the period, the bank also recorded a decrease of 8% in net interest income, reaching VND3,923 billion. Although foreign exchange and securities investment activities improved, after deducting expenses, Shinhan Bank's pre-tax profit only reached VND2,786 billion, down 12% over the same period.

As of the end of June, Shinhan's total assets reached VND207,177 billion, up 6.5% compared to the beginning of the year. Outstanding loans to customers increased by more than 7% compared to the end of 2024, while customer deposits increased by more than 6%.

This situation is contrary to the general picture of the domestic banking sector. According to statistics of 27 domestic banks listed on the stock exchange, in the second quarter of 2025, total pre-tax profit reached nearly VND 89,000 billion, up 17% over the same period thanks to strong credit growth, active bad debt recovery and stable credit costs.

Accumulated in the first 6 months of the year, pre-tax profits of these banks reached 172,000 billion VND, a growth of 16%.

Source: https://dantri.com.vn/kinh-doanh/ngan-hang-ngoai-hsbc-va-shinhan-tai-viet-nam-bao-lai-giam-20250929134518631.htm