Viet Capital Bank unveils excellent 2019 results

Wednesday, Jan 22, 2020 08:15

A Viet Capital Bank branch in HCM City. The lender met all its business targets last year. — Photo courtesy of the bank

Viet Capital Bank met most of its business targets in 2019, with pre-tax profits rising by 36 per cent.

Net interest income increased by 70 per cent, while earnings from card activities rose by 52 per cent as the number of cards issued increased four times.

Non-interest income was up 71 per cent.

It had deposits of over VND47 trillion (US$2.03 billion) and total outstanding loans of nearly VND35 trillion ($1.5 billion), increases of 12 per cent and 14 per cent.

Last year the lender paid special attention to building a solid risk management framework.

Viet Capital was the 12th bank to be approved by the State Bank of Vietnam to adopt Basel II standards ahead of schedule.

Determined to improve its bad debts situation and financial capacity, in 2019 it recovered over 80 per cent of its bad debts and is expected to handle all the debts it sold to the Viet Nam Asset Management Company in the first quarter of 2020, settling its bad debts ahead of schedule, the bank added. — VNS

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