Vietbank profit up 36 per cent in first nine months

Friday, Oct 28, 2022 12:39

Customers conduct transaction at a Vietbank’s transaction office in HCM City. — Photo courtesy of the bank

Vietbank has reported a pre-tax profit of VND536 billion (US$21.6 million) in the first nine months of the year, a year-on-year increase of 36 per cent.

Its total assets reached VND109.2 trillion ($4.4 billion), up 5.6 per cent from the beginning of the year. The structure of its asset portfolio continued to be improved with an increasing proportion of profitable assets.

As of September 30, 2022, total mobilised funds from economic organsations and residents reached VND70.1 trillion ($2.8 billion), up 5.1 per cent from the beginning of the year. Lending to customers reached VND57.4 trillion ($2.3 billion), up 13.6 per cent compared to the beginning of the year.

Total operating income in the first nine months reached VND1.7 trillion, up 26 per cent over the same period last year, of which, net service revenue was at nearly VND82 billion ($3.3 million), up 32 per cent over the corresponding period last year.

In July this year, Vietbank got approval from the State Bank of Vietnam to increase its charter capital by a maximum of VND1 trillion ($40.2 million) by issuing shares to existing shareholders. If successful, its charter capital will increase from nearly VND4.8 trillion ($193 million) to nearly VND5.8 trillion ($233.3 million).

Vietbank has received the award as "Top 10 Impressive Growth Brands 2022" at the Vietnam Excellent Brands Awards 2022 held by Vietnam Economic magazine for meeting criteria such as business performance, growth targets, product and service quality, human resources, social responsibility, digital transformation and appropriate and effective business plans. — VNS

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