TIẾNG VIỆT Vietcombank’s 2019 pretax profit jumps 26% to $1 billion, beating target
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Photo courtesy of Vietcombank
This is the third consecutive year the bank reports profit growth, which is 3.5 times higher than that of 2015.
The Vietnamese lender reported 2019’s deposit at nearly $41 billion, up 15.4% from end of 2018 while credit grew 16% to $31.7 billion, reaching target. Vietcombank’s credit growth last year was the highest among credit institutions in Vietnam.
As of end-2019, Vietcombank's bad debt ratio on outstanding loans reduced to 0,77% from 0,97% of 2018.
The Vietnam’s leading bank has become one of the first two credit institutions to meet Basel 2 standards, leading in interest rate cut in the market.
In 2020, the bank plans a profit growth of 15% to $1.15 billion and credit growth at 14% while maintain non-performing loans below 0.8%.
