The Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank) earned profits of an estimated VND8.25 trillion, fulfilling 104% of the plan set by the general meeting of shareholders.
In his speech at the event, Nguyen Van Thang, Vietinbank Chairman of Board of Directors, said that as of December 31st, the bank’s total merged assets were estimated at VND947 trillion, up 22% from the previous year; total mobilized capital reached VND862 trillion, up 21% and capital mobilized from inhabitants and economic organizations increased more than 30%.
Also in 2016, total outstanding credit balance posted VND720 trillion, a year-on-year rise of 18%, fulfilling the set target. Credit structure witnessed positive transfer with credit for the prioritized fields growing 22.4%, higher than the common credit growth of the whole system.
By the end of 2016, the bank continued to effectively manage the quality of assets with a bad debt ratio of less than 1%.
Mr. Le Duc Tho, General Director of Vietinbank said that in 2017, the bank set a target of a 15-17% rise in total assets and a 18% increase in outstanding credit. In addition, it strives to control the quality of debts, manage the bad debt ratio, and ensure profit growth in order to achieve or exceed the year’s plan set by the general meeting of shareholders./.