Eximbank reduces pre-tax profit target by 40%

Tuesday, May 12, 2020 16:13

A branch of Eximbank in Ha Noi. — VNA/VNS Photo Thanh Tung

The Viet Nam Export Import Commercial Bank (Eximbank) has adjusted its business plan for this year due to the impact of the COVID-19 pandemic.

The bank reduced its profit before tax target by 40 per cent from VND2.2 trillion (US$93.6 million) to VND1.3 trillion.

However, the profit is still 22 per cent higher than the results achieved last year.

Eximbank determined to focus on supporting and sharing difficulties with customers in parallel with business stabilisation in order to ensure benefits for employees and shareholders, Nguyen Canh Vinh, the bank's acting general director, said .

The bank would have appropriate action plans but still ensure the stability and safety for its system, Vinh added.

The director also said that the capital adequacy ratio of the bank was controlled at a high level and other liquidity ratios were guaranteed within high thresholds in accordance with regulations by the State Bank of Viet Nam. — VNS

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