Vietcombank hits record pre-tax profits
Tuesday, 10/01/2017 17:05 (GMT+7)
Bank for Foreign Trade of Viet Nam (Vietcombank) earned VND8.212 trillion (more than USD360.17 million) in pre-tax profits by the end of 2016, up 23.4% against last year or up 2.7% from the year’s plan.
Photo for illustration
These figures were released in the bank’s recent conference to summarize business activities in 2016 and carry out tasks for 2017.
As of December 31st, 2016, capital mobilization reached VND598.867 trillion, up 19.4% from the previous year or fulfilling 104% of the year’s plan. Of this, capital mobilized from businesspersons rose by 15.5%, while that from small and medium-sized enterprises increased by 51.3%. Outstanding credit balance saw positive growth at VND469.800 trillion, a 18.9% rise over a year earlier or 101.6% of the year’s plan.
In 2016, Vietcombank pioneered recovering and completely settling debts from Vietnam Asset Management Company (VAMC), with a bad debt ratio of 1.44%, down 0.4% from last year.
A leader of the bank said that in 2017, Vietcombank set targets of achieving an 11% rise in total assets, an 18% increase in credit, a 15% increase in capital mobilization, a 12% rise in pre-tax profits (equivalent to VND9.2 trillion), and bad debt ratio of less than 1.5%./.
BTA
Tags: