Hanoi (VNA) – The Joint Stock Commercial Bank forForeign Trade of Vietnam (Vietcombank) has reported an impressive pre-taxprofit of 17.3 trillion VND (740.1 million USD) in the first half of 2022.
In the January-June period, the bank’s bad debt provisionrate reached a record of over 500%, the highest in the market.
As of June 30, Vietcombank’s total asset was valued about 1.6quadrillion VND, a rise of 13.4% over that at the end of2021. Particularly, its credit growth hit 14.6% in the period to over 1.1 quadrillionVND.
Also by the said date, the bank’s bad debts were over 6.69 trillionVND, up 9.4% over the beginning of the year.
With the results, Vietcombank rose to the top position of the industry in terms ofprofit in the first half of this year. Earlier, the position belonged to VPBankwith over 15.32 trillion VND.
Vietcombank has remained the lender with the largestmarket capitalisation among the credit institutions listed on Vietnam's stockmarket. With a market capitalisation of 15.5 billion USD, Vietcombank iscurrently ranked 1,205th among the largest listed companies globallyaccording to the latest statistics of Reuters. It is the only Vietnameseenterprise in the list of the 1,000 largest enterprises in the globe, according tothe latest assessment of Forbes in May 2022.
At 9:27 am on July 26, the price of each Vietcombank’s sharewas 73,400 VND./.
In the January-June period, the bank’s bad debt provisionrate reached a record of over 500%, the highest in the market.
As of June 30, Vietcombank’s total asset was valued about 1.6quadrillion VND, a rise of 13.4% over that at the end of2021. Particularly, its credit growth hit 14.6% in the period to over 1.1 quadrillionVND.
Also by the said date, the bank’s bad debts were over 6.69 trillionVND, up 9.4% over the beginning of the year.
With the results, Vietcombank rose to the top position of the industry in terms ofprofit in the first half of this year. Earlier, the position belonged to VPBankwith over 15.32 trillion VND.
Vietcombank has remained the lender with the largestmarket capitalisation among the credit institutions listed on Vietnam's stockmarket. With a market capitalisation of 15.5 billion USD, Vietcombank iscurrently ranked 1,205th among the largest listed companies globallyaccording to the latest statistics of Reuters. It is the only Vietnameseenterprise in the list of the 1,000 largest enterprises in the globe, according tothe latest assessment of Forbes in May 2022.
At 9:27 am on July 26, the price of each Vietcombank’s sharewas 73,400 VND./.
VNA
