Eximbank's Q3 profit drops 66.8% as lending contracts
On-balance-sheet bad loans fell 31.4%, but special-mention debts increased as the Vietnamese bank pursued restructuring.
Vietnam's Eximbank reported nearly ₫186 billion in consolidated pre-tax profit for the third quarter of 2026, a 66.8% year-on-year fall. Outstanding customer loans contracted by ₫36,164 billion during the quarter, while the bank reported a reduction in on-balance-sheet non-performing loans.
After-tax earnings were ₫144 billion, down 67.6% from a year earlier. Over the first nine months, pre-tax profit totalled ₫864 billion, a decline of 57.8%. That represented around 57% of its ₫1,515 billion annual target.
At September 30, customer lending stood at ₫151,866 billion, down 19.2% from the end of June. Customer deposits dropped by more than ₫12,300 billion to ₫158,299 billion. Quarterly net interest income fell 25.6% year-on-year to ₫1,090 billion, with interest expenses rising faster than interest income.
Eximbank said it was placing greater weight on growth quality than expansion or maximising short-term earnings. Reducing exposure to higher-risk lending and portfolios with inadequate returns formed part of its restructuring efforts. It has not provided a detailed breakdown explaining the reduction in outstanding loans.
Non-performing loans on its balance sheet stood at approximately ₫3,973 billion at September 30, down 31.4% from the end of June. The non-performing loan ratio moved from 3.08% to 2.62%, against a year-end target below 2.5%.
However, special-mention loans increased 50.7% during the quarter to ₫4,614 billion. The financial statements also showed ₫3,432 billion in Vietnam Asset Management Company special bonds, compared with no outstanding balance at the end of June.
