Vietcombank reports 3Q pretax profit at VND6.3 trillion, up 72%

Joint Stock Commercial Bank For Foreign Trade of Vietnam (HoSE: VCB) recorded after-tax profit in the third quarter 2019 at over VND5 trillion ($214 million), an increase of 72% in compared the same period last year, according to the bank’s consolidated financial report.

During the first 9 months of the year, the bank’ pretax profit was reported at VND17.6 trillion, 50% higher than the same period of 2018, completing 86% of the whole-year target.

As of September, bank’s total assets stood at VND1,157 trillion ($49.5 billion), up 7% from the beginning of the year.

Bank deposit incresed by 13% to VND902 trillion while credit growth was reported at VND693.9 trillion, up 12% from the beginning of the year. Bad debt ratio was at 1.07%.

As of September 30, the bank has 18,838 employees, an increase of more than 1,600 compared to the beginning of the year. The average income reached VND30.6 million/person, equivalent to the same period last year.

As of Oct. 22, VCB share was traded at VND84,000 ($3.6), up 50% from the beginning of the year.