Vietcombank's profits rise 38%

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Bank for Foreign Trade of Viet Nam (Vietcombank) earned nearly VND4.2 trillion (US$186.7 million) in pre-tax profits till June 2016, up 38 per cent over the same period last year. Vietcombank General Director Pham Quang Dung told a meeting in southern Kien Giang Province late last week that the H1 profits represented more than half of the target the bank had set for 2016.
As of June 30, deposits at the bank reached VND535.2 trillion, up 6.7 per cent over the end of last year. Its outstanding loans totalled VND437.6 trillion, increasing 10.8 per cent over the end of 2015.
During H1, revenues from international payment and trade finance amounted to $24.8 billion, an increase of 8.3 per cent year-on-year.
Dung said the bank maintained the leading position in the domestic market in terms of foreign currency and bank card services, while attaching special importance to international credit activities.
The bank saw progress in non-performing loan settlement and ensuring the capital adequacy ratio, he said.

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