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BIDV’s pre-tax profit touches $140 million

Update: June, 15/2017 - 17:05
Customers make transactions at BIDV’s Quảng Trị branch. — VNA/VNS Photo Trần Việt
Viet Nam News

HÀ NỘI — The Bank for Investment and Development of Việt Nam (BIDV) has reported a pre-tax profit of VNĐ3.2 trillion (US$140 million) in the first five months of 2017.

The figure meets 41 per cent of its annual target.

Of this, profit earned from services was around VNĐ1.7 trillion, up 21 per cent year on year.

As of May 31, BIDV’s assets totalled around VNĐ1.4 quadrillion, up 14 per cent from the beginning of the year. Its outstanding loans are estimated at VNĐ188.6 trillion, up 17 per cent year on year, of which loans to small and medium enterprises rose by 9 per cent, to the agricultural sector was up 11 per cent, and to the support industry soared by 15 per cent.

Capital mobilisation rose by four per cent from the beginning of the year to touch VNĐ820 trillion. Of this, capital mobilisation from the retail sector accounts for 56.9 per cent, standing at VNĐ470.3 trillion, up 8 per cent from the start of 2017.

The ratio of non-performing loans (NPLs) fell from 2.14 per cent at the end of Q1 to 1.64 per cent. The proportion of short-term deposits, used to provide medium- and long-term loans, was 45.36 per cent.

BIDV Insurance Corporation (BIC), a subsidiary of BIDV, made a pre-tax profit of VNĐ85 billion, up 9 per cent year on year, completing 45 per cent of its annual target. BIDV Securities Joint Stock Company (BSC) recorded a pre-tax profit of VNĐ50 billion, fulfilling 55 per cent of its target. — VNS


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