Viet Capital Bank reports outstanding results in Q1

Thursday, Apr 29, 2021 08:31

Viet Capital Bank achieves positive business results in Q1, with profit doubling from the same period last year. — Photo courtesy of the bank

Viet Capital Bank’s first quarter profit doubled year-on-year to VND152 billion (US$6.6 million).

Its assets at the end of the quarter were worth nearly VND62 trillion ($2.68 billion), an increase of 16 per cent. Deposits and loans outstanding rose 15 per cent and 20 per cent to VND55 trillion and VND42 trillion.

Retail activities grew sharply, and contributed nearly 50 per cent of first quarter earnings.

Profit from bancassurance and card businesses were up two times and 2.5 times.

The bank also focuses on improving its risk management capacity.

Recently it received approval from the State Bank of Vietnam to open four new branches and 19 transaction offices, bringing the total number of outlets to 110 in 30 provinces and cities. — VNS

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