Vietnamese banks are earning billions from selling insurance through their branches. The rapid rise of bancassurance is reshaping how banks make money and why it matters for the sector.

The article reports that total life‑insurance premium revenue reached VND101.62 trillion ($3.91 billion) in the first nine months of 2026, even though it fell 4% year on year. At the same time, bancassurance contributed nearly 45% of new life‑insurance premium revenue, highlighting the importance of banks as distribution channels.

Techcombank's consolidated financial statements show that revenue from insurance‑related services hit VND2.15 trillion in the first nine months of 2026. This amount is 2.4 times the level recorded a year earlier and about 60% higher than the bank’s full‑year 2025 figure. The surge demonstrates how a single bank can boost its earnings through insurance sales.

Techcombank reports that insurance revenue now makes up a larger share of its fee‑based income, rising from 10% to 15% of the bank’s total service income. The shift indicates that insurance is becoming a core component of the bank’s overall revenue mix.

The article notes that new entrants such as VPLife are set to start operations in early 2027, promising tighter competition in the bancassurance market. Their arrival is expected to increase pressure on existing banks to improve product offerings and distribution efficiency.