Vietcombank reports a record profit

Monday, Oct 07, 2019 15:14

A Vietcombank branch in Cat Linh Street. Tha bank recorded a record profit of $758.2 million in the first nine months of 2019. — Photo

Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) on Monday reported a record profit of nearly VND17.6 trillion (US$758.2 million) in the first nine months of the year.

By the end of September 2019, the bank announced the total capital mobilisation of VND 998.2 trillion ($42.99 billion), credit balance of VND 709.1 trillion ($30.54 billion), up 11.6 per cent compared to 2018.

Vietcombank’s profit before tax reached VND17.2 trillion ($740.9 million), up 51.9 per cent compared to the same term last year. Its consolidated profit reached VND17.6 trillion ($758.2 million), up 50.6 per cent over the same period. The return on average assets (ROAA) and the return on average equity (ROAE) were 1.65 per cent and 25.75 per cent, respectively, much higher than before.

By this year end, Vietcombank aims to increase its total assets by 12 per cent to more than VND1.2 quadrillion ($51.69 billion); outstanding credit increased by 15 per cent to over VND735 trillion ($31.6 billion); capital mobilisation increased by 11-13 per cent. It also plans a profit before tax of VND19.5 trillion ($840 million) and a consolidated profit before tax of VND20 trillion ($861.5 million). — VNS

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