LPBank's nine-month pre-tax earnings rise nearly 9%
The Vietnamese bank reached 70% of its annual profit target, with third-quarter pre-tax earnings increasing 29% year-on-year.
LPBank earned ₫10,421 billion before tax over January-September 2026, an increase of nearly 9% year-on-year, its third-quarter financial statements showed. The Vietnamese lender's third-quarter contribution was ₫4,448 billion, 29% higher than a year earlier.
The nine-month result represented 70% of the bank's annual target. At the April 2026 annual general meeting, shareholders set the pre-tax earnings goal at ₫14,982 billion, a 5% increase from 2025.
By September 30, assets had grown 29% year-on-year to ₫694,183 billion. First-market deposits of ₫520,976 billion were 34% above a year earlier and 30% higher than at the year's start. Customer lending reached ₫481,570 billion, representing increases of 24% year-on-year and 23% since the beginning of 2026.
Operating income for January-September rose 29% to ₫19,179 billion, including ₫7,489 billion from net non-interest income, a 39% share. Net service income increased 136% to ₫5,977 billion, while foreign exchange trading generated net income of ₫889 billion, up 241%.
The bank recorded nine-month operating expenses of ₫5,337 billion. Its cost-to-income ratio declined by around 0.5 percentage points year-on-year to 27.83%; the third-quarter ratio was 20.71%. Non-performing loans accounted for 1.87%.
Separately, LPBank announced on October 19 that it was cutting lending rates by up to 2 percentage points per year. Deposit rates for tenors of at least six months were to fall by 0.5-0.6 percentage points per year.
