Customers make transactions at a ACB office. (Photo: baochinhphu.vn) SeABank's pre-tax profit in the first quarter of 2024 reached morethan 1.5 trillion VND, an increase of nearly 41% over the same period in 2023.The bank’s total operating income also surged by 19.54% to 2.7 trillion VND andits total revenue increased by 4.6% to nearly 6.44 trillion VND. At the sametime, SeABank's net non-interest income (NOII) also recorded an impressivegrowth of nearly 51% over the same period last year to 705 billion VND.
As of March 31 this year, SeABank's total assets were more than 271.6trillion VND, an increase of 2.06% compared to December 31, 2023.
Chairman of ACB Tran Hung Huy said at the end of the firstquarter, credit growth at ACB reached 3.7%, double the growth rate of the wholebanking industry and also better than the same period last year. The bank’s raisedcapital also grew by 2.1%, of which non-term deposits increased by 6.4%.
ACB’s profit was estimated at 4.9 trillion VND, close to thebank’s plans.
Dang Khac Vy, Chairman of VIB, said the bank’s credit growth wasabout 1% in the first quarter of this year. VIB’s profit reached more than 2.6trillion VND, equivalent to the same period last year.
Nguyen Dinh Tung, General Director of OCB, said by the end of thefirst quarter of 2024, OCB's credit growth reached about 4.6% and capital mobilisationincreased by about 5%. The bank’s pre-tax profit in the first quarter of 2024was about 1.2 trillion VND.
In a recent report, MB Securities Company (MBS) forecasts profitof the banking industry will increase by 20% in the first quarter of 2024.
According to experts, the prosperity of the banking industry inthe period came from many supporting factors, including favourable policies to creditgrowth.
Credit of the banking industry as of March 25, 2024 increased by0.26% compared to the end of 2023 to about 13.6 quadrillion VND, the State Bankof Vietnam (SBV) reported. In March alone, credit rose by 0.98%.
To boost credit growth, the SBV has requested credit institutionsto firmly implement effective credit growth solutions since early February.Accordingly, credit institutions must review to simplify lending procedureswith an aim to increase people's ability to access capital.
Besides, they must focus on strengthening digital transformationin the credit process to increase access to capital and more widely popularisebanking credit activities.
In addition, the SBV said it was necessary to improve the operationalefficiency of funds such as the credit insurance fund for small- andmedium-sized enterprises (SMEs), and the development fund for SMEs, to enhanceSMEs' ability to access credit./.
VNA
