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Vietinbank posts 405-million-USD pre-tax profit

The Vietnam Bank for Industry and Trade (VietinBank) reported its pre-tax profit of 405.7million USD in 2017, equivalent to 105 percent of its yearly plan, heard a conference in Hanoi on January 16.
Vietinbank posts 405-million-USD pre-tax profit ảnh 1General Director of Vietinbank Le Duc Tho speaks at the conference (Source: VNA)

Hanoi (VNA)– The Vietnam Bank for Industry and Trade (VietinBank) reported its pre-taxprofit of over 9.2 trillion VND (405.7 million USD) in 2017, equivalent to 105percent of its yearly plan, heard a conference in Hanoi on January 16.

The total assets of the bank notched ayear-on-year surge of 15.3 percent to more than 1.1quadrillion VND (48.4billion USD), and its outstanding loans reached 839 trillion VND (36.99 billionVND), up 18 percent year on year. Meanwhile, total capital was estimated atover 1 quadrillion VND (44 billion USD), a year-on-year increase of 16 percent,fulfilling 102 percent of the year’s target.

In the year, Vietinbank issued 4.2 trillion VND (184.8million USD) in secondary bonds. The successful issuance of the largest-eversecondary bonds affirmed the bank’s prestige and position as well as its effortsin raising capital capacity.

In 2018, Vietinbank aims to increase totalassets by 15 to 17 percent, capital mobilisation by 18 to 20 percent and creditby 16 to 17 percent. It also plans to keep bad debt under 2 percent. - VNA
VNA
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