Vietcombank's lending grows by 10.2%

Friday, Nov 14, 2014 15:44

A Vietcombank transaction office. The bank's lending grew 10.2 per cent in the first nine months of 2014. — Photo

HA NOI (Biz Hub) ─ Vietcombank's credit growth reached 10.2 per cent in the first nine months of 2014, with loans totalling VND302.18 trillion (US$14.39 billion), according to its financial reports dated November 12.

In the past nine months, deposits at the bank grew by 16.6 per cent, reaching VND387.33 trillion ($18.44 billion), while net revenues reached VND8.52 trillion ($405.71 million), a six-per cent year-on-year increase.

After-tax profits reached VND3.27 trillion ($155.71 million), an eight-per cent year-on-year increase, while the value of total assets as of September 30 was VND530.23 trillion ($25.25 billion), a 13-per cent increase over that of the entire 2013.

The bank's bad debt ratio was about 2.54 per cent of its total outstanding loans at end-September, which was slightly lower than the 2.72 per cent recorded at the start of 2014. — VNS

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