Banking sector

OCB’s pre-tax profit saw a rise by over 42 per cent in the first half of the year, compared to 2020, Photo Le Toan Banks are being seen as more ideally positioned and resilient amid the pandemic than other institutions, as their latest financial statements in the first half of 2021 reveal optimistic results. According to its latest report, VPBank (HSX: VPB) in H1 achieved a consolidated pre-tax profit of more than VND9 trillion ($391.3 million), up 37.2 per cent on-year, in which individual bank’s services created 88 per cent of the whole consolidated profit. VPBank saw its return on assets ratio attaining 3.3 per cent for the first time, and its return on equity reach 25.7 per cent. The bank, as a result, beats analysts’ expectations thanks to its leading performance indicators compared to other domestic peers. Likewise, MB (HSX: MBB) targets to gain VND13.2 trillion ($573.9 million) in consolidated profit, up 20 per cent on-year, with total assets and credit growing 11 per … [Read more...] about Shrewd activities resulting in banking bonuses for 2021

Credit demand has been on the rise in the first half of the year and is set to maintain its growth momentum for the second six months. Credit risks are expected to be a major issue in the last six months of this year with growing demand for bank loans in the fields of real estate, insurance, and securities. Customers at a BIDV Bank in Hanoi. Photo: Quoc Viet The State Bank of Vietnam (SBV) made the remarks in its June survey on the credit trend of banks,  saying the risk is forecast to decline in 2022 in case the pandemic control improves. The survey noted for the first six months of the year, 38 banks and credit institutions had met 100% of credit demands from customers, or 44.9% of the total, which is also the highest rate in the past four years. Meanwhile, the rate of banks meeting “75-100%” of customer’s demands remained at over 90%. “Overall, credit demand has been on the rise in the first half of the year, and is set to maintain its growth momentum … [Read more...] about Central Bank warns of risks in real estate lending

Banks are anticipating increasing risk in lending for securities, real estate, financial and tourism businesses in the remaining months of this year. — Photo cafef.vn Banks will continue to tighten lending in risky sectors including securities, real estate, financial, and tourism business, seeing higher credit risks in the remaining months of this year, a survey carried out by The Monetary Forecasting and Statistics Department, has said. The survey included 95 per cent of credit institutions and branches of foreign banks operating in Viet Nam. The survey found that credit institutions saw an increase in overall credit demand in the first half of this year and forecast the trend would continue in the second half. Only credit demand from tourism businesses dropped in the first half but it was expected to see a slight recovery in the second half. Credit risk was seen to increase in the first half of 2021 but at a lower rate than the second half of 2020 in almost all sectors. … [Read more...] about Banks to tighten credit in risky sectors in remaining months of this year

HDBank achieves excellent results in the first half, with its profit up 44.2 per cent, NPL ratio at only 0.8 per cent. — Photo courtesy of the bank The Ho Chi Minh City Development Joint Stock Commercial Bank (HOSE: HDB) has reported pre-tax profit of VND4.19 trillion (US$183.9 million) for the first half of the year, a year-on-year increase of 44.2 per cent and equivalent to 58 per cent of the full-year target. According to its consolidated financial statements for the second quarter of 2021, total assets as of June 30 were worth VND331 trillion ($14.5 billion) and outstanding credit balance was more than VND199.16 trillion ($8.74 billion), up 5.8 per cent from the same period last year. The non-performing loans ratio of the parent bank was just 0.8 per cent, among the lowest in the banking sector. Total operating income in the second quarter was VND4.25 trillion, which took the figure for the first half to over VND8.422 trillion, up 32.7 per cent year-on-year. Net … [Read more...] about HDBank profits up 44.2% in H1, NPL ratio at only 0.8%, joins hands with community to combat pandemic

HDBank achieves excellent results in the first half, with its profit up 44.2 percent, NPL ratio at only 0.8 percent. (Photo courtesy of the bank) HCM City (VNS/VNA) - The Ho Chi Minh City Development Joint Stock Commercial Bank ( HOSE: HDB ) has reported pre-tax profit of 4.19 trillion VND (183.9 million USD) for the first half of the year, a year-on-year increase of 44.2 percent and equivalent to 58 percent of the full-year target. According to its consolidated financial statements for the second quarter of 2021, total assets as of June 30 were worth 331 trillion VND (14.5 billion USD) and outstanding credit balance was more than 199.16 trillion VND (8.74 billion USD), up 5.8 percent from the same period last year. The non-performing loans ratio of the parent bank was just 0.8 percent, among the lowest in the banking sector. Total operating income in the second quarter was 4.25 trillion VND, which took the figure for the first half to over 8.42 trillion VND, up 32.7 … [Read more...] about HDBank’s profits up 44.2 percent in H1

HDBank's has posted bright performance in the first half According to the consolidated financial statements for the second quarter of 2021, as of June 30, total assets reached VND330.97 trillion($14.4 billion). Outstanding debts reached more than VND199.163 billion ($8.7 billion), up 5.8 per cent compared to the end of 2020. Currently, HDBank's asset quality is among the best in the industry with a separate bad debt ratio of only 0.8 per cent. Total operating income in Q2 reached VND4.25 trillion ($184.8 million) and the cumulative 6-month operating income reached more than VND8.42 trillion ($366 million), up 32.7 per cent on-year. Of this, net revenue from services reached more than VND857 billion ($37.26 million), 2.3 times as much as in the same period last year thanks to the strong growth of bancassurance and payment services, demonstrating that there is still a lot of room for growth. Management efficiency and profitability were enhanced with a sharp increase in return on … [Read more...] about HDBank surpasses $182 million in gross income in H1/2021