Illustrative image (Source: VNA)
 
Hanoi (VNA) – 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.

According to the bank’s latest financial report for the second quarter of this year, it earned approximately 16.8 trillion VND (739 million USD) in the first six months.

Its net profit rose by 37 percent year-on-year to over 14 trillion VND (616.35 million USD), including 1.41 trillion VND (62.04 million USD) in profit from banking services and 303 billion VND (13.33 million USD) in profit from foreign currency activities.

The BIDV’s pre-tax profit reached 4.05 trillion VND (178.2 million USD), up 24.7 percent year-on-year and representing 54 percent of its yearly target. The pre-tax profit in the second quarter saw a significant increase of 49 percent to over 1.99 trillion VND (87.56 million USD).

As of June 30, the bank’s total asset amounted to more than 1,100 trillion VND (48.4 billion USD), an expansion of 9.3 percent from the beginning of this year. It has provided over 807.3 trillion VND (35.52 billion USD) in loans, up 11.56 percent and kept the bad debt at around 1.9 percent.

The bank has mobilised over 1,026 trillion VND (54.14 billion USD) in capital, including more than 811.5 trillion VND (35.7 billion USD) in deposits, up 11.8 percent from the beginning of this year.-VNA