Bao Viet Group: Profit after tax in the first 9 months of the year increased by 13.4%

Bao Viet achieved 1,619 billion VND in profit, up 13.4% over the same period.

Bao Viet's total consolidated revenue after the first 9 months of 2024 reached VND 42,122 billion, equivalent to nearly 1.7 billion USD. Consolidated pre-tax and after-tax profits reached VND 1,965 billion and VND 1,619 billion, respectively, up 14.7% and 13.4% over the same period. Total consolidated assets as of September 30 reached VND 238,219 billion, up 7.7% compared to December 31, 2023.

The Parent Company's total revenue reached VND 1,224 billion, profit after tax reached VND 866 billion, up 5.1% and 4.8% respectively over the same period, closely following the progress of the 2024 plan approved by the General Meeting of Shareholders. As of September 30, the Parent Company's total assets reached VND 18,675 billion, equity reached VND 18,502 billion, up 4.5% and 4.7% respectively compared to December 31, 2023.

Happy golden birthday, thousands of gifts.

Towards its 60th anniversary (January 15, 1965 - January 15, 2025), Bao Viet focuses its resources on optimizing network advantages, diversity in business areas and professionalism of each member unit with the goal of creating the future.

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, in 2024, Bao Viet will spend more than VND 745 billion to pay cash dividends, equivalent to 10.037% of the par value of shares. In addition, Bao Viet also allocates funds for social security activities such as: investing in education; upgrading medical infrastructure; building charity houses; overcoming the consequences of natural disasters...

2024 paid more than 745 billion VND in dividends.

The only Vietnamese enterprise leading the market, with good business results in both life and non-life insurance activities.

Life insurance business achieved 982 billion VND in profit after tax, up 23.3%.

After the first 9 months of 2024, the insurance market has shown positive recovery. As the only Vietnamese life insurance company in the market, Bao Viet Life strives to research and deploy many increasingly superior insurance products, meeting the needs of families for protection and peace of mind against life's risks.

Many customer care and gratitude programs have been deployed by Bao Viet Life nationwide such as gift exchange programs for loyal customers, gift promotion programs "Increase protection - live healthy and happy", "Protect the whole family, travel freely".

In addition, Bao Viet Life also implements social security programs and gives scholarships to children in difficult circumstances, including children of customers who have encountered risks and had insurance paid by Bao Viet Life in the past.

Towards the 60th anniversary of Bao Viet, Bao Viet Life launched the gratitude program “Instead of words - Wrapping up love” with 5,000 sets of loving gifts. The program takes place from October 20 to November 25 for female customers of Bao Viet Life who join new contracts and meet all the conditions of the program.

Non-life insurance business achieved 250 billion VND in profit after tax, up 40.1%.

After the first 9 months of 2024, Bao Viet Insurance's total revenue reached VND 8,854 billion, up 3.3%; profit after tax reached VND 250 billion, up 40.1% over the same period.

From November 1, towards the 60th anniversary of the company's establishment, Bao Viet Insurance has launched a customer appreciation program with a 10% ++ discount on health, personal, home, vehicle and travel insurance premiums, along with many attractive gifts across the system. Follow the website baovietonline.com.vn to update the latest programs.

Bao Viet Insurance is honored to receive the "60 Years of Excellence Awards Insurance Vietnam 2024" award from Global Banking & Finance Review. This award is a recognition of Bao Viet Insurance's outstanding contributions throughout 60 years of development and accompanying many generations of customers and businesses.

On October 23-24, Bao Viet Insurance, as a co-founding member of AGCIA (Asian Credit & Guarantee Insurance Association (AGCIA)), was the sole representative of Vietnam to attend the 5th Annual General Meeting of Vietnam. Bao Viet Insurance has always actively developed diverse insurance programs for individual and corporate customers to ensure peace of mind in investing, managing risks and promoting sustainable growth.

In particular, guarantee insurance is one of the outstanding products that has been deployed since 2020, providing solid financial security, meeting the diverse needs of businesses in large investment projects, construction, and service provision.

Financial business services grew well in securities and fund management activities.

Bao Viet Securities Company (BVSC) in the first 9 months of the year achieved 718 billion VND in total revenue and 146 billion VND in profit after tax (actual figures), up 27.3% and 29.5% respectively over the same period.

BVSC continues to maintain its position as the leading securities company in the market with the Best Brokerage House Vietnam 2024 award voted by World Economic Magazine. Many attractive promotions in the Mega Sale program celebrating Bao Viet's 60th birthday are also offered to attract more investors to the market, including a combo of 3 attractive gifts: VND 100,000 in cash into the account, preferential transaction fee of only 0.15% and margin interest rate of only 8%/year for the first 30 days of each loan during the promotion period; Margin T+ program, interest-free for the first 5 days of borrowing for investors with short-term strategies and quick capital turnover.

In addition, the "Refer a friend - Unlimited rewards" program helps increase passive income for investors when introducing new friends to open an account at Bao Viet Securities, register online on the B-Wise trading website or BVSC Invest app.

After the first 9 months of 2024, Bao Viet Fund Management Company (BVF) achieved positive results with total revenue reaching 134 billion VND, an increase of 12.6%; profit after tax reaching 63 billion VND, an increase of 12% over the same period.

Of which, all 3 open-end funds of Bao Viet Fund Management Company (BVF) achieved performance exceeding the reference index. Especially for open-end equity funds, while the average growth rate in the market is 15.6%, Bao Viet Dynamic Equity Investment Fund (BVFED) and Bao Viet Prospective Equity Investment Fund (BVPF) recorded growth rates of 18.5% and 23.7%, respectively.

To achieve positive results, BVF's fund management team has closely monitored market developments, adjusted the investment portfolio accordingly to take advantage of market trends and fluctuations to optimize profits and protect investors' assets.

Towards the 20th anniversary of BVF and the 60th anniversary of Bao Viet Group in 2025, BVF is launching a gratitude program "Celebrating the golden birthday - thousands of gifts". From October 15 to December 31, 2024, investors will receive an 80% discount on transaction fees when purchasing fund certificates at all distribution agents.

The program not only helps optimize costs but also expresses gratitude to customers for their trust. BVF hopes to encourage investors to increase their investments and enjoy top-notch financial services.

Bao Viet Group is the leading Finance - Insurance Group in Vietnam. With a history of development since 1965, Bao Viet is proud to be the first insurance company established in Vietnam. Currently, the Group is headquartered in Hanoi with a nationwide network. Since June 2009, the Group's shares (BVH) have been listed on the Ho Chi Minh City Stock Exchange.

Detailed information about the Group can be viewed at www.baoviet.com.vn

Ha An

Source: https://vtcnews.vn/tap-doan-bao-viet-loi-nhuan-sau-thue-9-thang-dau-nam-tang-truong-13-4-ar905006.html