Business

Vietcombank’s bad debts lowest ever in 2020

The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) recorded a bad debt ratio of 0.6 percent last year, the lowest so far and in the sector, compared to 0.78 percent in 2019.
Vietcombank’s bad debts lowest ever in 2020 ảnh 1At a Vietcombank branch (Photo: VNA)

Hanoi (VNA) - The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) recorded a bad debt ratio of 0.6 percent last year, the lowest so far and in the sector, compared to 0.78 percent in 2019.

Chairman of its Board of Directors Nghiem Xuan Thanh told the media that this is the first time in five years its profit has still stood at around 23 trillion VND (1 billion USD).

Vietcombank has introduced five lending interest rate cuts since early last year, the most among credit organisations, with a total reduction of around 3.7 trillion VND in profit.

The bank also rose provisional funds for bad debts up to 380 percent, or 380 VND for each 100 VND of bad debt; a record to date.

It posted credit growth of 13.95 percent last year, or some 110 trillion VND worth of new loans; much higher than the 8 percent recorded by the sector.

It contributed 9 trillion VND to the State budget. With stock market shares standing at 100,000 VND each on January 6, Vietcombank became the largest listed company, with capitalisation of around 390 trillion VND./.

VNA
#Joint Stock Commercial Bank for Foreign Trade of Vietnam #Vietcombank #Vietnam News Agency #Vietnamplus #bad debt Vietnam
Follow VietnamPlus

Related News

See more

A Korea-invested company in Hue city, Vietnam (Photo: VNA)

Foreign investors show strong confidence in Vietnam’s long-term investment potential

While concerns over tariffs are real and may lead some foreign investors to take a more cautious approach in disbursing capital, especially for large-scale and long-term projects, Vietnam still holds significant advantages in attracting FDI thanks to a favourable business environment and, most importantly, the Government’s strong commitment to supporting investors.

Deputy Minister Nguyen Hoang Long, Minister of State Douglas Alexander, and representatives from ministries and the embassies of both countries pose for a group photo at the 14th JETCO meeting. (Photo: VNA)

Vietnam, UK boost economic, trade ties

Over the past decade, trade and investment relations between Vietnam and the UK have made remarkable strides. On trade, the two countries have implemented the UKVFTA for more than four years, and most recently, the UK’s accession as the 12th member of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) has further strengthened bilateral cooperation.

Workers assemble parts on an automotive production line in HCM City. The city’s industrial sector is showing strong signs of recovery. (Photo: moit.gov.vn)

HCM City sees strong recovery in industrial production

HCM City's 23 industries – including printing and media reproduction, furniture manufacturing, non-metallic mineral products, motor vehicles, electrical equipment, clothing and electronic and optical products – reported higher output in the first half of 2025.

Workers pack cashew nuts at Duc Thinh production and trading co., ltd., former Binh Phuoc province (Photo: VNA)

Vietnam targets 4.5 billion USD in cashew exports for 2025

Figures from the first six months show cashew exports reached 346,800 tonnes, earning 2.36 billion USD, a drop of 2.7% in volume but a surge of 20.4% in value annually. The rise was largely attributed to a significant increase in export prices, which helped offset lower shipment volumes.

The Hai Phong City Convention and Performance Centre is one of the venues for ABAC III. (Photo: VNA)

Hai Phong expects strong wave of investment from APEC member economies

Hai Phong will present investment registration certificates for 32 projects and sign seven Memoranda of Understanding, with total committed capital exceeding 15.6 billion USD. These projects include investments from Europe and the US, reflecting the growing interest of global investors in the city's business environment and development potential.

The ongoing administrative reforms are expected to expand the real estate sector's appeal to investors. (Photo: VNA)

Institutional reforms open new investment frontier for realty sector

Assessing the impact of the new model, Director at Savills Vietnam’s Advisory Services Do Thi Thu Giang said that the deeper decentralisation of authority to local administrations will help reduce processing time for construction permits and project approvals, thereby reducing opportunity costs and increasing investment efficiency.

Minister Counsellor Pham Quang Huy, deputy head of Vietnam's Permanent Mission to Geneva and representatives of St. Gallen Endowment. (Photo: VNA)

Vietnam boosts cooperation with St. Gallen Endowment of Switzerland

Minister Counsellor Pham Quang Huy, deputy head of Vietnam's Permanent Mission to Geneva, has recently held a working session with representatives of the St. Gallen Endowment to boost cooperation between Vietnam and the Swiss fund, as part of his attendance at a seminar in Geneva on risk levels and countries’ trade responses to rising tariffs.