BIDV reports 24% growth in H1 operating income
The Bank for Investment and Development of Vietnam (BIDV) reported a year-on-year growth of 24 percent in operating income in the first half of 2017.
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Its net profit rose by 37% year-on-year to over VND14 trillion (US$616.35 million), including VND1.41 trillion (US$62.04 million) in profit from banking services and VND303 billion(US$13.33 million) in profit from foreign currency activities.
The BIDV’s pre-tax profit reached VND4.05 trillion (US$178.2 million USD), up 24.7% year-on-year and representing 54% of its yearly target. The pre-tax profit in the second quarter saw a significant increase of 49% to over VND1.99 trillion (US$87.56 million).
As of June 30, the bank’s total asset amounted to more than 1,100 trillion VND (US$48.4 billion), an expansion of 9.3% from the beginning of this year. It has provided over VND807.3 trillion (US$35.52 billion) in loans, up 11.56% and kept the bad debt at around 1.9%.
The bank has mobilised over VND1,026 trillion (US$54.14 billion ) in capital, including more than VND811.5 trillion (US$35.7 billion) in deposits, up 11.8% from the beginning of this year.