Results from the semi-annual report show that at the end of the first 6 months of 2024, KienlongBank's total assets recorded VND 91,668 billion, an increase of VND 4,696 billion; customer loans reached VND 56,184 billion, an increase of VND 5,025 billion; customer deposits reached VND 58,387 billion, an increase of VND 1,490 billion, compared to the end of 2023.
Compared to the same period last year, the Bank's net interest income in the first 6 months of the year reached VND 1,531 billion, an increase of VND 491 billion.
Of which, net profit from service activities reached 234 billion VND; an increase of 28 billion VND. Total profit before tax was 552 billion VND, an increase of 150 billion VND, bringing in 440 billion VND in profit after tax, an increase of 119 billion VND.
Based on the profit target approved by the General Meeting of Shareholders in April 2024, KienlongBank has completed 69% of the annual plan.
Not only did it exceed its revenue and profit plan, thanks to strict risk management measures and prudent risk appetite, KienlongBank's average bad debt ratio in the first 6 months of the year was controlled below 2%, ensuring compliance with the regulations of the State Bank of Vietnam (SBV).
At the same time, the Bank is also proactive in enhancing resources, increasing the buffer to cover bad debts, reducing the impact of bad debts as well as flexibly responding to bad market scenarios in the future, thereby helping to maintain stable and sustainable growth momentum.
To achieve this positive business result, in addition to strictly following the monetary policy direction of the State Bank, KienlongBank has increased benefits and income for employees, created an ideal working environment for employees, trained and attracted high-quality employees.
In addition, the Bank also expanded its business scale by equipping and investing in IT infrastructure costs, launching breakthrough Digital products and services based on the new Core Banking and Core Card platforms, thereby meeting the diverse needs of many customer segments. This is also one of the costs that accounts for a large proportion of the Bank's total operating costs in the first 6 months of the year.
Continuing with the orientation of sustainable development, supporting the regular needs of customers, in the coming time, a system of more than 100 new generation automatic banking transaction machines (STM) of KienlongBank will also be installed nationwide to help customers transact more conveniently, minimizing activities at the counter.
In recognition of its efforts and achievements, in the first half of 2024, KienlongBank was also nominated and honored in many prestigious award categories such as Top 500 Fastest Growing Enterprises in Vietnam 2024, Top 10 Creative and Effective Enterprises 2024, Best Workplace in Vietnam 2024...
Facing the 29-year milestone - Journey of Connecting Values, KienlongBank will continue to promote the implementation of digital products as well as expand the cooperation network with many partners, with the goal of becoming a modern and friendly Digital Bank by 2025.
Source: https://www.nguoiduatin.vn/dau-tu-nguyen-binh-co-no-gap-12-lan-von-chu-so-huu-204240827162827977.htm
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