Specifically, the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) has just announced its latest business results, showing that all important targets have met and exceeded the plan assigned by the State Bank and the General Meeting of Shareholders.
Notably, the bank's pre-tax profit in 2024 alone recorded VND30,006 billion (equivalent to more than USD1.1 billion), up 12.4% over the previous year. Profitability and financial safety indicators were maintained stably, with ROA reaching 1.02%, ROE reaching 19.09% and capital adequacy ratio (CAR) reaching 8.6%.
In addition, BIDV's subsidiaries, joint ventures and associates also maintained stable business performance. Pre-tax profit from subsidiaries reached VND1,253 billion, while joint ventures and associates contributed VND1,362 billion. Thus, BIDV's total consolidated profit in 2024 is estimated to exceed VND31,000 billion.
Total assets of the commercial banking sector by the end of 2024 will reach nearly VND 2.7 million billion (equivalent to more than USD 100 billion), an increase of 19.4%, maintaining its position as the joint stock commercial bank with the largest asset scale in Vietnam.
Total mobilized capital reached VND2,140 trillion, up 13.1%, while outstanding credit reached over VND2,010 trillion, up 15.3%, accounting for 13.1% of the credit market share, leading the market.
Credit quality is tightly managed with the bad debt ratio controlled at 1.3%, meeting the State Bank's target. The bad debt coverage ratio reached 133%, reflecting the bank's effective risk control ability.
BIDV's equity reached VND136,320 billion, up 18.4% over the previous year. The bank's market capitalization reached VND259,000 billion, up 4.6%, continuing to be in the top 3 enterprises with the largest capitalization on the Vietnamese stock market.
In 2024, BIDV will complete increasing its charter capital to VND 68,975 billion, and pay the state budget VND 9,412 billion, becoming one of the leading enterprises in paying corporate income tax.
Similarly, at the Joint Stock Commercial Bank for Industry and Trade (VietinBank), although specific profit figures have not been announced, the latest news from this bank shows that VietinBank's total assets grew by 17%; revenue grew positively, and profits reached and exceeded the set plan.
Previously, in early October 2024, VietinBank's Board of Directors finalized the profit plan for the whole year of 2024 with an expected growth rate of 8.7% compared to the previous year, equivalent to the parent bank's pre-tax profit of VND 26,300 billion (exceeding USD 1 billion).
Also according to VietinBank, outstanding credit in the past year grew by 16.88% compared to 2023, higher than the average growth rate of the entire banking industry and maintained stable growth throughout the year. Total mobilized capital reached 1.8 million billion VND, up 15% compared to the end of 2023. The scale of demand deposits (CASA) grew by a breakthrough 30% compared to the average in 2023. The proportion of CASA reached 24.1% by the end of 2024, supporting the improvement of capital costs and enhancing VietinBank's competitiveness.
In 2024, VietinBank will pay the State budget 8.6 trillion VND, an increase of 33% compared to 2023 and will always be in the Top 10 enterprises paying the highest State budget.
Before BIDV and VietinBank, the Bank for Agriculture and Rural Development (Agribank) also announced its preliminary business results for 2024. In particular, pre-tax profit in 2024 increased by more than 8% compared to the previous year, estimated at VND 27,927 billion.
As of December 31, 2024, Agribank's total assets reached more than VND 2.2 million billion, an increase of VND 200,000 billion, equivalent to a growth rate of 10% over the previous year. Outstanding credit also recorded a significant increase, exceeding VND 1.72 million billion, an increase of more than VND 170,000 billion, equivalent to an increase of 11%. At the same time, the bank's capital mobilization exceeded VND 2 million billion, an increase of more than VND 140,000 billion, equivalent to a growth rate of 7.5%.
The on-balance sheet bad debt ratio decreased to 1.56%, ensuring the bank's risk control orientation. The bank also handled nearly VND 138,000 billion of bad debt in the period from 2021 to 2024 and aims to reduce the on-balance sheet bad debt ratio to below 1% by 2025. Last year, Agribank received an additional VND 17,100 billion in charter capital from the state budget, raising the total charter capital to VND 51,600 billion.
Thus, up to this point, in the group of state-owned banks, only the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) has not announced its business results for 2024. However, at the conference to deploy the banking sector's tasks for 2025 held in mid-December 2024, Mr. Nguyen Thanh Tung, Chairman of the Board of Directors of Vietcombank, said that the bank has basically completed the goals and plans assigned by the State Bank and the General Meeting of Shareholders.
By the end of 2024, Vietcombank is expected to achieve credit growth of 13%, with outstanding loans reaching VND1.4 million billion. The bank's total assets are estimated at nearly VND2 million billion, while the bad debt ratio is tightly controlled below 1%.
Previously, the 9-month business report showed that Vietcombank's pre-tax profit reached VND31,533 billion, up 7% over the same period and completing 75% of the 2024 plan. With this result, Vietcombank continues to maintain its leading position in the industry in terms of profit.
Source: https://doanhnghiepvn.vn/kinh-te/he-lo-loi-nhuan-ty-usd-cua-4-ngan-hang-lon/20250109090038148
Comment (0)