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Vietcombank increases lending by 10% in 9 months

Update: November, 15/2014 - 09:34
A Vietcombank transaction office. The bank's lending grew 10.2 per cent in the first nine months of 2014. — Photo
HA NOI (VNS)  — 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 November 12 financial report.

In the past nine months, deposits at the bank grew by 16.6 per cent, reaching VND387.33 trillion ($18.44 billion), while net revenue 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 the entire year of 2013.

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

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