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BIDV reports 24 percent 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.
BIDV reports 24 percent growth in H1 operating income ảnh 1Illustrative image (Source: VNA)
 
Hanoi (VNA) – The Bank for Investment andDevelopment of Vietnam (BIDV) reported a year-on-year growth of 24 percent in operatingincome in the first half of 2017.

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

Its net profit rose by 37 percent year-on-year to over 14trillion VND (616.35 million USD), including 1.41 trillion VND (62.04 millionUSD) in profit from banking services and 303 billion VND (13.33 million USD) inprofit 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 percentof its yearly target. The pre-tax profit in the second quarter saw asignificant increase of 49 percent to over 1.99 trillion VND (87.56 millionUSD).

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

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