Kienlong Commercial Joint Stock Bank (KienlongBank, UPCoM: KLB) has just announced its business results for the second quarter of 2024 with net interest income doubling over the same period to VND919 billion.
Net profit from service activities increased by 28% over the same period to nearly 121 billion VND. Other activities also brought KienlongBank a profit increase of 1.7 times to nearly 49 billion VND.
Thanks to the strong growth in net interest income, although operating expenses increased by 35% over the same period to nearly VND504 billion, KienlongBank still earned a net profit from business activities that increased 2.8 times to VND582 billion.
Although risk provision costs increased to VND244.3 billion, KienlongBank still reported after-tax profit of VND269 billion, up nearly 1.7 times over the same period to VND269 billion.
Accumulated in the first 6 months of 2024, KienlongBank reported pre-tax profit of nearly 552 billion VND, after-tax profit of nearly 440 billion VND, up 37% over the same period.
In 2024, KienlongBank set a target of consolidated pre-tax profit of VND 800 billion. Thus, by the end of the second quarter of 2024, the bank had completed 69% of the set target.
As of June 30, 2024, KienlongBank's total assets were VND91,668 billion, a slight increase of 5.4% compared to the end of the previous year. Of which, deposits at the State Bank were VND2,843 billion. Customer loans reached VND56,973 billion, an increase of 10% compared to 2023.
On the other side of the balance sheet, KienlongBank's deposits and loans from other credit institutions increased by 14.6% to VND20,766 billion. Customer deposits at the bank also increased slightly by 2.6% to VND58,386 billion.
By the end of June 2024, KienlongBank had a total of 3,782 employees, an increase of 171 people compared to the end of 2023, with an average total employee income of VND 24 million/person/month.
Source: https://www.nguoiduatin.vn/kienlongbank-trich-lap-du-phong-rui-ro-gap-24-lan-no-xau-van-tang-204240802154917919.htm
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