Banks announce huge profit in first nine months

Tuesday, 2019-10-08 11:17:46
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NDO - Domestic banks have unveiled positive business performance results in the first nine months of this year.

Vietcombank’s pre-tax profits hit a record high of over VND17.25 trillion (US$741.75 million) in the first nine months of 2019, a year-on-year increase of 51.9%, meeting 86.4% of the bank’s annual plan. Capital mobilisation by the bank reached VND998.24 trillion, completing 101% of the plan for the third quarter of 2019.

Sacombank also announced huge profits, with pre-tax profits hitting VND2.49 trillion, an increase of 89.5% over the same period last year.

TPBank also posted record high profits of VND2.40 trillion in the first nine months of 2019. The value was 1.5 times higher compared to the same period last year and met 75% of the bank’s annual plan.

With these positive results, the financial activities of the banking sector are considered to be safe with sustainable growth. Currently, the total assets of banks reached over VND154 trillion, fulfilling 98.76% of the target plan set at the shareholders' meeting in April.

According to the State Bank of Vietnam, the business situation in 2019 continues to improve. Many credit institutions have been expecting that this year's business results would be higher than last year.