A VietinBank transaction office. (Source: VietinBank)Hanoi (VNA) – Many commercial banks postedpositive business performance for the first quarter of the year with highprofits.
The Joint Stock Commercial Bank forForeign Trade of Vietnam (Vietcombank) recorded the post-tax profit hittingover 2.2 trillion VND (97 million USD), up 20.1 percent from the same periodlast year. The figure made the bank the top of the list in terms of profit ofthe first quarter.
The Vietnam Bank for Industry andTrade (Vietinbank) got a pre-tax profit of 2.544 trillion VND (111.9 millionUSD), up 5.8 percent year-on-year, and post-tax profit of 2.039 trillion VND(89.7 million USD).
This is the strongest growth the bank has recordedsince 2011, according to Vietinbank Chairman of the Board of Directors NguyenVan Thang.
The Bank for Investment and Development ofVietnam (BIDV) earned nearly 2.277 trillion VND (100.1 million USD) and 1.848 trillion VND (81.3 million USD) in pre- and post-tax profits, respectively, upover 9 percent year-on-year.
Similarly, the Vietnam Technological andCommercial Joint Stock Bank’s (Techcombank) total pre- and post-tax profitswere 1.32 trillion VND (58.2 million USD), double the figure of the same periodlast year, and 1.059 trillion VND (46.6 million USD), respectively.
Meanwhile, the Military Bank (MB) recorded ayear-on-year increase of 22 percent to 1.055 trillion VND (46.4 million USD) inpre-tax profit, or 25 percent of the yearly plan. The bank hopes to post 4.532trillion VND (199.4 million USD) in pre-tax profit this year.
Also in the reviewed period, the Saigon ThuongTin Commercial JSC.’s (Sacombank) showed impressive performance with pre- andpost-profits hitting 309 billion VND (13.6 million USD), and 210 VND (9.24million USD), up 50 percent and 30 percent, respectively.
The Export-Import Bank (Eximbank) recorded afive-time increase 170 billion VND (7.48 million USD) in pre-tax profit, and136 billion VND (5.98 million USD) in post-tax profit.
According to the Department of Statistics and Forecastingunder the State Bank of Vietnam, the banking system’s the average growth isexpected to rise by 13.4 percent, higher than that of 2016.-VNA
VNA
