In Q2, most of BIDV‘s business activities witnessed growth compared to the same period last year. The main revenue stream increased by 10%, earning nearly VND 14,838 billion in net interest income.
Non-credit income sources saw significant increases, including service interest (+16%), foreign exchange trading interest (2.2 times), and investment securities trading interest (17.6 times).
As a result, the bank’s profit from business operations increased by 24% to VND 13,517 billion. Despite a 36% increase in provisions for credit risks, amounting to VND 5,358 billion, BIDV still recorded a pre-tax profit of nearly VND 8,159 billion, a 17% increase year-on-year.
For the first six months of the year, BIDV reported a pre-tax profit of nearly VND 15,549 billion, a 12% increase.
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Q2/2024 Business Results of BID. Unit: VND billion
Source: VietstockFinance
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BIDV‘s total assets as of the end of Q2 expanded by 10% from the beginning of the year to over VND 2.52 quadrillion. Customer lending and deposits both increased by 6%, reaching VND 1.88 quadrillion and VND 1.8 quadrillion, respectively.
The bank’s total non-performing loans as of June 30, 2024, stood at VND 28,687 billion, a 28% increase from the beginning of the year. The non-performing loan ratio also increased from 1.26% to 1.52% during this period.
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Loan Quality of BID as of June 30, 2024. Unit: VND billion
Source: VietstockFinance
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Bamboo Capital (BCG) surpasses 4,000 billion VND in revenue, reduces debt by 5,500 billion VND by 2023
The amount of debt to be paid has been reduced by more than 5,498 billion VND as the Group has actively settled all borrowings in order to lessen the cost of interest and ensure financial stability for the business.
Tracodi (TCD) earns 163 billion VND profit in 2023
Throughout the year 2023, Tracodi achieved a consolidated net revenue of VND 1,784.5 billion and a post-tax profit of VND 163.3 billion.
