BIDV’s pre-tax interest income from credit sources increases by 21% in 2023

The consolidated financial statement reveals that BIDV (HOSE: BID), the Joint Stock Commercial Bank for Investment and Development of Vietnam, achieved a pre-tax profit of approximately 27,650 billion VND in 2023, representing a 21% increase compared to the previous year. This remarkable growth can be attributed to the strong growth of non-interest income and a reduction in credit risk provisions.


Overall in 2023, the core activities of the Bank remained stable with a net interest income of 56.136 trillion VND.

Meanwhile, non-interest income saw strong growth compared to the previous year. Service income increased by 16% (6.572 trillion VND), and foreign exchange trading income increased by 50% (4.707 trillion VND).

Notably, the securities trading activity generated a profit of 305 billion VND, compared to a loss in the previous year. The profit from securities investment trading significantly increased to 2.871 trillion VND, compared to only 258 billion VND in the previous year.

In addition, BIDV reduced credit risk provisions by 15%, only reserving 20.294 trillion VND. As a result, the Bank’s pre-tax profit in 2023 reached nearly 27.649 trillion VND, an increase of 21%.

Q4 and full-year 2023 business results of BIDV. Unit: billion VND

By the end of 2023, the total assets exceeded 2.3 million trillion VND, an 8% increase compared to the beginning of the year. Customer loans increased by 17% (almost 1.78 million trillion VND), and customer deposits increased by 16% (over 1.7 million trillion VND).

As of December 31, 2023, the total non-performing loans recorded more than 22.229 trillion VND, a 23% increase compared to the beginning of the year. Of which, doubtful debts saw the largest increase. As a result, the NPL ratio increased from 1.19% at the beginning of the year to 1.25%.

The loan quality of BIDV as of December 31, 2023. Unit: billion VND

Source: VietstockFinance

Han Dong