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ECONOMYBANKING & FINANCE

A prosperous year for banking industry

Updated at Saturday, 28 Oct 2017, 12:26
The Hanoitimes - Though there remains two months to the year-end many banks have so far met profit targets set for the whole of 2017, financial reports from banks showed.
According to the Orient Commercial Bank (OCB), it completed the whole year profit plan after the first nine months with the pre-tax profit of VND789 billion and completion rate of 101 percent.
As of September 30, 2017, OCB had total assets of VND70.87 trillion, accomplishing 83 percent of the year plan.
The total mobilization was nearly VND56.34 trillion, reckoning for 85 percent of the plan; the outstanding loans were VND46.84 trillion, fulfilling 99 percent of the plan; the non-performing loan (NPL) ratio was controlled at less than 2 percent.
 TPBank announces its 9-month accumulated pre-tax profit of VND807 billion, exceeding the whole year plan set at VND780 billion.
TPBank announces its 9-month accumulated pre-tax profit of VND807 billion, exceeding the whole year plan set at VND780 billion.
Tien Phong Commercial Joint Stock Bank (TPBank) this week announced its financial statement in the first quarter of 2017 with the 9-month accumulated pre-tax profit of VND807 billion, exceeding the whole year plan set at VND780 billion.
As of September 30, 2017, TPBank’s total assets were VND114.5 trillion, up 28 percent year-on-year; the outstanding loans were over VND67 trillion, equal to 97.8 percent of the year plan, growing nearly 20 percent; the capital mobilization improved nearly 21 percent from the beginning of the year, hitting nearly 95 percent of the year plan; the NPL ratio was less than 0.8 percent.
An Binh Bank (ABBank) on October 24 also posted its business results and became the next member having profit approaching the whole year target only after nine months.
Specifically, in January-September 2017, ABBank attained the pre-tax profit of VND429 billion, up 122 percent year-on-year and completed 132 percent of the 9-month plan, equal to 95 percent of the 2017 plan.
As of September 30, 2017, ABBank had the total assets of nearly VND81.31 trillion, up 9.2 percent from the beginning of the year and 16.2 percent year-on-year. Loans to customers touched VND44.22 trillion, up 11.1 percent from the beginning of the year; customers’ deposits hit nearly VND55.5 trillion, up 7.1 percent from the beginning of the year.
Prior to the above mentioned members, the market also recorded the unexpected profit increase that exceeds the whole year plan after nine months at Ho Chi Minh City Development Bank (HDBank) along with the whole year profit progress to be almost completed at LienVietPostBank.
With the announced business results, the year 2017 becomes different when, for the first time since the demand stimulation period of 2009-2012, the system of Vietnamese commercial banks has achieved such a rapid profit generation progress.
​Anh Hong
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