Vietinbank posts US$405 million pre-tax profit
The Vietnam Bank for Industry and Trade (VietinBank) reported its pre-tax profit of over VND9.2 trillion (US$405.7 million) in 2017, equivalent to 105% of its yearly plan, heard a conference in Hanoi on January 16.
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The total assets of the bank notched a year-on-year surge of 15.3% to more than VND1.1 quadrillion (US$48.4 billion), and its outstanding loans reached VND839 trillion (US$36.99 billion), up 18% year on year.
Meanwhile, total capital was estimated at over VND1 quadrillion (US$44 billion), a year-on-year increase of 16%, fulfilling 102% of the year’s target.
In the year, Vietinbank issued VND4.2 trillion (US$184.8 million) in secondary bonds. The successful issuance of the largest-ever secondary bonds affirmed the bank’s prestige and position as well as its efforts in raising capital capacity.
In 2018, Vietinbank aims to increase total assets by 15% to 17%, capital mobilisation by 18% to 20% and credit by 16% to 17%. It also plans to keep bad debt under 2%.
