Vietcombank General Director Pham Quang Dung (Source: VNA) Hanoi (VNA) – The Joint Stock Commercial Bank forForeign Trade of Vietnam (Vietcombank) posted over 7.72 trillion VND (336.2million USD) in pre-tax profit in the first half of 2018, up 52.7 percent yearon year.
The figure represents 55.2 percent of the planfor 2018, Vietcombank General Director Pham Quang Dung said at a recent meetingto review the bank’s six-month performance.
He attributed the outcome to good capital mobilisation,credit growth and quality, and services, which have helped boost profit andrates of return.
In particular, the net interest margin was at2.76 percent while the returns on assets and equity respectively reached 1.24percent and 22.71 percent, higher than the averages in the market and stronglyrising from last year.
Meanwhile, Vietcombank shares continued to havethe biggest market capitalisation in the banking sector.
In 2018, the bank aims to raise total assetvalue by 14 percent, mobilised capital by 15 percent, and credit by 15 percent,while keeping bad debt at under 1.5 percent. It looks to gain pre-tax profit of13 trillion VND (566.15 million USD), up 14.6 percent from 2017.
Recently, Vietcombank has become the first bankin Vietnam to meet the SWIFT Global Payments Innovation Initiative (GPI)standards, which make the bank ready to provide comprehensive solutions tosatisfy clients’ demand in payment and money transfer.-VNA
The figure represents 55.2 percent of the planfor 2018, Vietcombank General Director Pham Quang Dung said at a recent meetingto review the bank’s six-month performance.
He attributed the outcome to good capital mobilisation,credit growth and quality, and services, which have helped boost profit andrates of return.
In particular, the net interest margin was at2.76 percent while the returns on assets and equity respectively reached 1.24percent and 22.71 percent, higher than the averages in the market and stronglyrising from last year.
Meanwhile, Vietcombank shares continued to havethe biggest market capitalisation in the banking sector.
In 2018, the bank aims to raise total assetvalue by 14 percent, mobilised capital by 15 percent, and credit by 15 percent,while keeping bad debt at under 1.5 percent. It looks to gain pre-tax profit of13 trillion VND (566.15 million USD), up 14.6 percent from 2017.
Recently, Vietcombank has become the first bankin Vietnam to meet the SWIFT Global Payments Innovation Initiative (GPI)standards, which make the bank ready to provide comprehensive solutions tosatisfy clients’ demand in payment and money transfer.-VNA
VNA
