Many banks lower profit growth expectations

Business results posted by banks for the first quarter increased compared to the previous quarter but fell short of expectations. According to the latest survey from the Monetary Forecasting and Statistics Department at the State Bank of Vietnam, 90 per cent of banks expect pre-tax profits to grow in 2022 compared to 2021, down 5 percentage points from the previous survey. Six per cent of banks have forecast a decline in profits this year.