This paper investigates the determinants of bank profitability in the Vietnam from 2006 to 2012 employing a rich and detailed dataset. Employing an assorted econometric panel data method, the findings of the paper indicate that capital adequacy, the level of riskness, productivity and bank operation costs have a positive impacts on profitability. In addition, we find that that bank size does not consistently and significantly affecting profitability. We also find that significant governance ownership in bank has negative effect on bank performance. Other industry specific and macroeconomic variables which have strong impacts on bank include concentration, inflation and economic growth.