ANTD.VN - On July 28, 2023, Bao Viet Group announced its business results for the first 6 months of 2023 (before audit), according to which the parent company and its member units recorded positive growth with total consolidated revenue reaching VND 28,355 billion, up 6.3% over the same period in 2022. Consolidated profit after tax reached VND 973 billion, up 15.7%.
Bao Viet achieved 973 billion VND in consolidated profit after tax, up 15.7%
Total consolidated revenue after the first 6 months of 2023 reached VND 28,355 billion, up 6.3% over the same period in 2022. Consolidated pre-tax and after-tax profits reached VND 1,169 billion and VND 973 billion, up 11.6% and 15.7% respectively. Total consolidated assets as of June 30, 2023 reached VND 220,771 billion, up 9.5% over December 31, 2022.
The parent company's total revenue reached VND 773 billion, profit after tax reached VND 550 billion, up 0.2% and 4.6% respectively over the same period in 2022. As of June 30, 2023, the parent company's total assets reached VND 18,047 billion, equity reached VND 17,852 billion, up 2.7% and 3.2% respectively over December 31, 2022.
Bao Viet approved payment of VND 708 billion in cash dividends in 2022
With strong financial potential, leading capital and asset scale among insurance companies, Bao Viet always fulfills its commitments to shareholders, increasing value for investors. According to the profit distribution plan, Bao Viet will pay cash dividends at a rate of 9.54% on par value of shares for the 2022 fiscal year, equivalent to a payment of VND 708 billion. With this payment level, the total amount of dividends paid to Bao Viet shareholders since equitization to date has reached more than VND 12,400 billion.
Non-life insurance business sector grows 14.6% over the same period in 2022
After the first 6 months of 2023, Bao Viet Insurance Corporation's total revenue reached VND 5,556 billion, equivalent to the same period in 2022. Profit after tax reached VND 150 billion, up 14.6% over the same period in 2022 and closely following the 2023 plan.
Bao Viet Insurance has just officially launched a car physical insurance program applying Telematics digital technology - called BAOVIET GO, attracting a lot of attention from car enthusiasts and technology lovers. Car physical insurance applying BAOVIET GO journey management technology has many privileges exclusively for customers: Pioneering the experience of Telematics technology application; Measuring safe driving skills with AI; Competitive insurance premiums. With Telematics technology, BAOVIET GO will automatically calculate the customer's safe driving score, instructing customers to improve their safe driving ability to receive the largest discount when participating in Bao Viet's motor vehicle insurance.
Bao Viet Insurance has just been announced to continue to be the leading company in the Top 10 "Prestigious Non-Life Insurance Companies" in 2023 for the 7th year (Vietnam Report).
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Life insurance business sector grows 9.4% over the same period in 2022
Bao Viet Life Corporation ended the first 6 months of 2023 with a total revenue growth of 9.8%, reaching VND 22,157 billion. Profit after tax reached VND 525 billion, up 9.4% over the same period in 2022.
Taking customers as the focus of all activities and at the same time expressing gratitude for its 27th anniversary, Bao Viet Life has continuously launched major promotional programs to bring customers superior financial protection solutions and attractive gifts. In early March, the program "Increase protection, free premium" offered 20% of the An vui song khoe product fee to customers. In early June, the program "Exciting gifts, happy birthday" offered nearly 1,900 prizes with a total value of more than 5 billion VND. Currently, the program has drawn 616 lucky customers in the first round, and the second and third rounds are expected to be drawn in August and September.
Bao Viet Life has just been announced to continue to be the leading company in the Top 10 "Prestigious Life Insurance Companies" in 2023 for the 7th year (Vietnam Report).
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Fund management and securities trading sectors have positive growth.
Bao Viet Fund Management Company (BVF) continues its good growth momentum with total net assets under management reaching nearly VND 117,000 billion, up 7.3% compared to December 31, 2022; total revenue reaching VND 78 billion, up 25% over the same period in 2022, profit after tax reaching VND 37 billion.
For trust and investment fund portfolios, the results of the first 6 months of 2023 of all portfolios have positive growth and exceeded customers' expected growth. Notably, compared to the open-end fund market, BVFED fund is in the top 3 open-end equity investment funds in terms of operating efficiency with a growth rate of 17% as of June 30, 2023 (growth higher than the VN30 reference index of 5.2%).
Baoviet Fund has just received the award “Best Fund Manager – Vietnam 2023” presented by International Finance Magazine as well as successfully launched the ETF BVFVN DIAMOND (BVFVND) with a charter capital of 51 billion VND. With the goal of simulating the closest possible fluctuations of the reference index, the Vietnam Diamond stock basket, the BVFVND fund will be a new superior product, bringing diversity as well as good investment results to investors.
Bao Viet Securities Company (BVSC) ended the first 6 months of 2023 with VND 386 billion in revenue and VND 107 billion in profit after tax. Continuously improving mobile apps and web trading has brought a consistent and convenient investment experience to customers and investors. Recently, Bao Viet Securities is one of the few pioneers participating in the private corporate bond trading market, helping investors easily access a new investment channel, while creating conditions for the primary market of private corporate bonds to develop more sustainably. In addition, BVSC has also successfully organized a 5-week webinar series, discussing investment opportunities with hot industry codes and has received a lot of support from customers and investors.
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