ANTD.VN - VietABank's pre-tax profit decreased slightly by 7.5% compared to the same period last year, but the bright spot was that net profit from services increased quite strongly in the first 6 months of the year.
VietABank has just announced its financial report for the second quarter of 2023 with total assets reaching VND 104,583 billion, up 10.7% over the same period last year. Mobilization from economic organizations and residents reached VND 84,092 billion, up 26.65% over the same period in 2022, completing 102.37% of the 2023 plan. Outstanding loans reached VND 66,669 billion.
 |
Many banks' profits declined in the second quarter of 2023 |
The Bank's pre-tax profit reached VND523 billion, down slightly by 7.5% compared to the same period last year. This is also the general trend of banks in the second quarter financial report announcement season, when NIM (net interest margin) narrows, bad debt increases, pressure to set aside risk provisions increases, credit growth slows down...
However, the bright spot of VietABank is that net profit from service activities in the first 6 months of the year reached 19 billion VND, up 21.44% over the same period last year. Net interest income reached 878.2 billion VND, up 33.23% over the same period in 2022. The bad debt ratio is 2.6%.
Explaining why pre-tax profit has not reached the set target, VietABank's leaders said that it was due to the sharp increase in costs related to management activities such as: Officially operating the new version of Core Banking; Increasing senior personnel for business activities; Renovating and repairing the system of transaction points throughout the system...
According to the financial report, net cash flow in the first 6 months of the year also decreased because the Bank increased credit growth by more than VND 3,500 billion and proactively reduced cash flow by VND 5,500 billion from market 2.
Source link
Comment (0)