Vietcombank targets 2021 pre-tax profit to increase 12%
The Vietnamese lender eyed 2021 total assets to increase by 6 percent while credit was expected to increase 12 percent. Bad debt ratio was projected at below 1 percent.
In 2020, Vietcombank recorded a consolidated profit of VND23,068 billion ($1 billion), equivalent to 2019. Net income from non-credit activities accounted for 49.8 percent of income from operating activities.
The bank’s 2020 total mobilization increased nearly 5 percent while credit outstanding balance as of end-2020 was VND838,220 billion ($16.7 billion), up 13.95 percent compared to end-2019, exceeding the whole-year goal by 3.6 percent.
In 2020, the bank synchronously implemented solutions to support businesses and individuals affected by COVID-19 pandemic and natural disasters through interest rate support packages, interest rate reduction. Total outstanding loans received the policy reached VND441,768 billion ($19.2 billion).
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VnExpress | Dat Nguyen