Bao Viet Group: Consolidated profit after tax in 2024 exceeds 2,000 billion VND

Consolidated profit after tax reached VND 2,194 billion, up 16.6%

In 2024, although the domestic and foreign markets have many challenges, with synchronous and flexible business solutions to promote business across the system towards the 60th anniversary of its establishment (January 15, 1965 - January 15, 2025), Bao Viet Group has achieved many positive results.

Bao Viet Group's total consolidated assets as of December 31, 2024 reached more than 10 billion USD, equivalent to VND 251,286 billion, an increase of 13.6% compared to December 31, 2023. Total consolidated revenue in 2024 reached VND 56,875 billion, exceeding the 2024 Plan by 1.4%. Consolidated pre-tax and after-tax profits reached VND 2,663 billion and VND 2,194 billion, respectively, up 17.7% and 16.6%, exceeding the full-year plan at a high level.

Bao Viet Group achieved more than 2,000 billion VND in consolidated profit after tax

The Parent Company's total revenue will reach VND 1,693 billion, profit after tax will reach VND 1,180 billion, up 7.5% and 5.7% respectively compared to 2023. The Parent Company's total assets will reach VND 18,266 billion, equity will reach VND 18,071 billion as of December 31, 2024.

With strong financial potential, leading capital and asset scale among insurance companies, Bao Viet always fulfills its commitments to shareholders, increasing value for investors. In 2024, Bao Viet Group paid cash dividends at a rate of 10.037% on par value of shares, equivalent to more than VND 745 billion in dividends to shareholders. Thus, the total amount of dividends paid to shareholders of BVH since equitization (2007) to date has reached more than VND 13,100 billion.

Bao Viet is the first Vietnamese enterprise to be recognized and ranked as a Sustainable Enterprise in the Dow Jones Sustainability Indices - DJSI for three consecutive years and continues to be recognized in the Corporate Sustainability Assessment (CSA) of S&P Global.

In addition, Bao Viet has been honored by the League of American Communication Professionals (LACP) for 14 consecutive years with many important awards: the prestigious Platinum Award in the Finance - Insurance industry for both Annual Report and Sustainable Development Report, TOP 5 Best Annual Reports in Vietnam, Gold Award for Internal Publishing Report and Award for Excellent Technology Application Report; Ranked 1/100 Best Annual Reports in Asia and 17/100 Best Annual Reports in the world.

Life insurance sector leads the market

Bao Viet Life Corporation recorded positive growth in business efficiency when after-tax profit reached VND 1,510 billion, an increase of 33.7% compared to 2023. Bao Viet Life continued to lead in total life insurance premium revenue and new business revenue.

In 2024, Bao Viet Life is honored to be the 8th leading "Prestigious Life Insurance Company in Vietnam" and 6 years "Best Workplace in Asia".

In the non-life insurance sector, by the end of 2024, Bao Viet Insurance Corporation's total revenue will reach VND 11,928 billion, up 1.3%; after-tax profit will reach VND 298 billion, up 2.9% compared to 2023.

Marking 60 years of establishment and development, Bao Viet Insurance was honored to receive the "60 years of outstanding achievements" award presented by Global Banking & Finance Review and was recognized by the Government with the title "National Brand 2024 for non-life insurance services".

In 2024, Bao Viet Securities Company (BVSC) will achieve VND 949 billion in total revenue and VND 206 billion in profit after tax (actual figures) , up 9.1% and 29.2% respectively compared to 2023.

In 2024, BVSC will maintain its pioneering position and strong development in the Vietnamese finance and securities industry through many prestigious awards such as: Top 50 Pioneering Enterprises and Commitment to Improving Corporate Governance in Vietnam, Top 100 Best Workplaces in Vietnam 2024, Typical M&A Consulting Organization in 2023-2024 at the Vietnam M&A Forum 2024, Top 100 Sustainable Enterprises in Vietnam 2024, Top 10 Best Annual Reports, Typical Member in Basic Securities Transaction Payment Activities in 2024...

Bao Viet Fund Management Company (BVF)'s operations demonstrate its role as one of the leading fund management companies in the industry with growth in both asset management scale, business results and investment. As of December 31, 2024, BVF's total net assets under management reached VND 140,235 billion, an increase of 11.9% compared to the end of 2023 and an average growth rate of 15.7% over the past 5 years. BVF's total revenue in 2024 reached VND 175.8 billion, profit after tax reached VND 72.6 billion; growth of 11.8% and 13.6% respectively compared to 2023.

Source: https://thoibaonganhang.vn/tap-doan-bao-viet-loi-nhuan-sau-thue-hop-nhat-nam-2024-vuot-moc-2000-ty-dong-162103.html