By the end of March 2024, the bank’s total assets reached VND 88,218 billion, an increase of 17% compared to the same period. BAOVIET Bank’s total debt reached VND 67,733 billion, of which BAOVIET Bank’s corporate bond loan and investment was VND 45,467 billion with a major contribution from strategic segments such as retail customers and small and medium-sized business customers. Mobilization of economic and social organizations increased by 17%, reaching VND 53,892 billion. Although in the first quarter of 2024, the business and credit growth conditions of the banking industry in general, and BAOVIET Bank in particular, faced many difficulties, and many credit institutions experienced negative growth, BAOVIET Bank was no exception, however, BAOVIET Bank still maintained and Increased pre-tax profit compared to the same period last year, reaching nearly VND 8.3 billion.
Along with the increase in total assets, the quality of BAOVIET Bank’s assets also improved, the ratio of bad debts to total debt was controlled at 2.57%, a decrease of 0.32% compared to the same period last year (bad debt ratio as of 31/03/2023 was 2.89%). The improvement in asset quality and bad debt ratio is thanks to BAOVIET Bank’s efforts in synchronously deploying many synchronous debt recovery measures, inspection, and control after lending are enhanced to limit the increase in bad debt.
Leveraging the advantages of Bao Viet Group, in 2024, BAOVIET Bank focused on exploiting the customer base belonging to the Bao Viet ecosystem in order to increase personal lending balance with specialized loan products, attractive interest rates and fees; continue to expand customers through partner linkage channels, project financing. In addition, the Bank develops non-cash payment transaction channels, thereby increasing competitiveness and attracting customers.
In the context of many difficulties in the domestic and international markets, BAOVIET Bank is always a pioneer, actively responding to the policies of the Government, the State Bank in accompanying people and businesses. Not only carrying out credit restructuring, rescheduling debt repayment, BAOVIET Bank also continuously launches new preferential interest rate loan packages to support customers, promote production – business activities.
Most recently, the bank launched the program “Reduce interest rates – Touch your dream immediately” with a total limit of VND 1,300 billion for individual customers borrowing capital with secured assets with interest rates from only 3%/year.
Accordingly, individual customers who borrow for purposes such as: business loans, purchase, construction, real estate repair loans, car loans, consumer loans…, can flexibly choose flexible lending options suitable for lending purposes. Customers who have a short-term capital supplement need to meet spending and investment needs in production and business from only 3%/year.
In particular, customers who are BAOVIET Bank officers, employees of Bao Viet Group and member units, Bao Viet Life consultants will enjoy interest rate reduction of up to 0.5%/year compared to normal customers.
