Military Bank's profits increase slightly

Monday, May 19, 2014 16:16

Customers use Military Bank services. The bank's after-tax profits rise slightly in Q1. — Photo kinhtenongthon

HA NOI (Biz Hub) ― Military Bank's after-tax profits increased slightly 1.4 per cent year-on-year in the first quarter of this year, reaching VND636.3 billion, or US$30.3 million.

The bank's new financial reports attributed the rise to a 7.8 per cent decline in risk provisional funds, which reached nearly VND366 billion, or $17.43 million.

Total operational revenues reached VND1.83 trillion, or $87.14 million, down 0.7 per cent over the same period last year, while operational costs totaled VND656.4 billion, or $31.26 million, up 6.5 per cent.

Revenues from securities trading increased by 137 per cent at VND105.3 billion, or $5.01 million, while revenues from foreign exchange activities fell by 26 per cent at about VND$20 billion, or $952,400.

Credit grew 0.4 per cent quarter-over-quarter, and the bad debt ratio rose to 2.7 per cent from 2.5 per cent, according to reports. ― VNS

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