Vietnam Airlines has marked a significant turnaround after enduring four challenging years affected by the COVID-19 pandemic.

Total assets of the Vietnamese credit institution system by the end of June 2024 reached more than VND21.07 quadrillion, an increase of 4.97% compared to the end of 2023, the State Bank of Vietnam (SBV)’s latest data show.

Companies should apply international financial reporting standards (IFRS) to improve transparency and increase the chances to expand globally, experts have said.

Although electricity prices were increased twice in 2023, Vietnam Electricity (EVN) reported an after-tax loss of VND26.77 trillion (US$1.053 billion) on high electricity production costs, according to its audited financial report.

Many airlines are operating with fewer aircraft than last year coming into the peak summer period as fleets have been reduced to service debt.

Vietnam Airlines group for the fourth quarter of 2023 achieved improved indicators and recorded a profit from transportation activities, according to its financial report released on January 31.

Many large corporations’ owners have accepted no salary during a difficult period, but other CEOs have received tens of billions of dong a year.

VOV.VN - Binh Son Refining and Petrochemical JSc (BSR) that owns Dung Quat Oil Refinery made a profit after tax of VND12,899 billion, more than 3 times higher than the same period in 2021.

A forum discussing the application of international financial reporting standards (IFRS) in Vietnam took place in Hanoi on May 25.

Vietnam Airlines incurred after-tax losses of nearly VND5 trillion in the first quarter of this year, surging over 90% year-on-year and the highest-ever losses recorded for a quarter, as the COVID-19 pandemic is emerging increasingly complicated.