VietinBank pre-tax H1 profits up 75 pct
In this article (5)
State-owned lender VietinBank has recorded pre-tax profits of VND13 trillion ($565.2 million) in the first six months of 2021, a year-on-year increase of 75 percent.
Its ratio of non-performing loans at the end of Q2 was 1.38 percent, chairman Le Duc Tho said, adding that the targeted non-performing loans ratio for this year was 1-1.2 percent
The bank’s total assets value at the end of June was VND1.4 quadrillion ($60.8 billion), while its loans outstanding were VND1.06 quadrillion, according to its CEO Tran Binh Minh.
Capital mobilization as of June reached VND1.2 quadrillion, up 3.4 percent year-on-year.
The bank plans to increase its charter capital by 29 percent to over VND48 trillion this year by paying dividends in shares.
Questions & Answers
Q.How do VietinBank's current non-performing loans compare to its target for the year?
How do VietinBank's current non-performing loans compare to its target for the year?
The bank's non-performing loans ratio stood at 1.38 percent at the end of Q2. This is slightly above its targeted ratio for this year, which is set between 1 and 1.2 percent.
Q.What is VietinBank's current total asset value and how much has it lent out?
What is VietinBank's current total asset value and how much has it lent out?
At the end of June, VietinBank's total assets were valued at VND1.4 quadrillion ($60.8 billion). Its total loans outstanding to customers amounted to VND1.06 quadrillion.
Q.How does VietinBank intend to increase its charter capital this year?
How does VietinBank intend to increase its charter capital this year?
VietinBank plans to boost its charter capital by 29 percent to over VND48 trillion within this year. This increase will be achieved through the payment of dividends in shares.
Q.What was the growth in VietinBank's capital mobilisation compared to the previous year?
What was the growth in VietinBank's capital mobilisation compared to the previous year?
As of June, VietinBank's capital mobilisation reached VND1.2 quadrillion. This figure represents a year-on-year increase of 3.4 percent from the same period last year.
Reader pulse
What does VietinBank's H1 profit surge mean for Vietnam's banking sector?
23,224 votes so far