In the first 6 months of 2024, BVBank recorded pre-tax profit of VND 153 billion, achieving 76% of the plan assigned by the General Meeting of Shareholders. One of the important factors helping BVBank report profit growth is thanks to the Bank's proactive cost control.
Business situation recorded, accumulated in the first 6 months of the year, total income (TOI) reached nearly 1,200 billion VND, up 46% over the same period. For core business activities, while interest income decreased by 13%, capital costs were optimized, down 29% over the same period. Accordingly, BVBank recorded a total net interest income increase of 57% compared to the first 6 months of 2023, reaching 1,023 billion VND.
Foreign exchange trading activities flourished, growing 65% year-on-year thanks to a sharp increase in foreign exchange sales.
While total operating income increased by 46%, BVBank's operating expenses stood at VND700 billion, up only 9% year-on-year, showing that the Bank implemented many effective cost management solutions, thereby supporting profit growth.
Promoting preferential loans, outstanding debt reaches nearly 60 trillion VND
As of June 30, 2024, BVBank's total assets reached nearly VND 91,000 billion, up 11% over the same period last year. Mobilization from economic organizations and individuals reached more than VND 63,500 billion, up 5% over the same period.
In terms of credit growth, in the first quarter of 2024, BVBank faced many difficulties due partly to the impact of the general market context. In the second quarter, lending activities improved with many preferential interest rate loan packages and competitive policies to approach customers, resulting in outstanding loans reaching nearly VND 59,600 billion, up 10.6% over the same period and up 3.2% compared to the end of 2023.
Implementing the direction of the State Bank, BVBank has continuously and proactively applied information technology and digital transformation to reduce operating costs and reduce lending interest rates. In recent times, BVBank has continuously implemented many preferential lending programs with low interest rates from only 5%/year, supporting customers to overcome financial difficulties.
Actively improving experience, BVBank surpasses 2 million customers
In addition to stable business growth, BVBank continues to focus on improving customer experience at every touchpoint in 2024. In just over the first 6 months of the year, BVBank has completed the goal of opening 10 new transaction points, aiming to increase the bank's presence and reach deeper into new customer segments.
At the same time, strong digital transformation activities continue to play a good role in attracting new customers. With digital banking for individuals and businesses, the Digimi and Digibiz application duo, along with Digimi+ automatic banks, are continuously deploying many features that meet customer needs. Thereby, BVBank has surpassed the 2 million customer mark. By the end of the second quarter, the number of customers increased by more than 60%, the number of transactions increased by nearly 1.5 times compared to the same period in 2023. In addition, in the second quarter, the bank also began implementing Decision 2345 of the State Bank to ensure the safety of customers' transactions.
Looking forward to the second half of the year, BVBank continues to operate in the spirit of closely following business targets, with retail banking strategy as a guiding principle. This will create great motivation for the Bank to successfully complete its mission of providing specialized and practical financial services to customers.
Customers can also find out more details via website www.bvbank.net.vn or contact hotline 24/7: 1900 555 596.
About BVBank
Established in 1992, after 31 years of development and 10 years of innovation, BVBank has been building a solid position in the financial market and bringing satisfaction to customers, partners and shareholders.
With the desire to get closer to customers, from December 2023, BVBank officially launched a new logo to synchronize the new brand identity across the system, moving quickly on the roadmap of "becoming a multi-functional, modern retail bank, oriented towards customers, especially individual customers and small and medium-sized enterprises" .
Present in 33 provinces and cities nationwide with 126 business units, the number of new customers is growing continuously, more than 50% each year, BVBank expects to become a trusted financial transaction address for customers. In addition, BVBank also aims to become one of the banks with rapid and effective digital transformation. In 2022, BVBank is honored to receive 6 international awards: Best Digital Transformation Bank (voted by Global Banking & Finance Review); Bank with the most user-friendly mobile banking solution (awarded by The Global Economics magazine); Bank with the initiative in payment solutions and mobile banking of the year in Vietnam (awarded by Asia Banking & Finance - Retail Banking Awards); Most innovative digital bank (awarded by Global Business Outlook); Bank with the most advanced technology application (voted by FinanceAsia Country Awards magazine); The bank leads the growth in transaction spending on NAPAS card payments in 2022. In addition, BVBank is also recognized as the Bank with the best Brand Management system (voted by MiBrand Company, specializing in market research & development, brand valuation) along with a series of prestigious domestic awards.
Source: https://www.congluan.vn/bvbank-bvb-hoan-thanh-76-ke-hoach-loi-nhuan-6-thang-dau-nam-post305346.html
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