A staff from Vietnam International Bank introduces the bank's services to a customer. — VNS Photo

HA NOI (Biz Hub) — From January through September, Vietnam International Bank (VIB) recorded a pre-provision profit of VND747 billion (US$33.2 million), while profits before tax reached VND370 billion ($16.5 million), up 58 per cent.

According to the bank's Q3 financial statements, the total lending book stood at more than VND51.33 trillion, a yearly rise of 18 per cent. Of this sum, loans to customers accounted for VND44.36 trillion, up 16.2 per cent, in comparison with early 2015.

During the reviewed period, deposits from customers experienced a year-on-year growth of 2.5 per cent to reach VND50.28 trillion.

Yet despite the positive lending growth, the bank's total assets still dropped by VND8.15 billion. The decrease was mainly due to a drop in most of its deposits on the interbank market amidst a background of uncertainty in the market. The bank also restructured the government bond portfolio to better suit its investment strategy.

In terms of risk management, the bank's non-performing loan ratio now stands at 2.34 per cent, down 0.18 per cent against earlier this year.

VIB is one of the first banks that completed the debt trading plan with the Vietnam Asset Management Company (VAMC).

According to VIB, its capital adequacy ratio (CAR) continues to remain at 18 per cent - the highest level among Vietnam's large banks. — VNS