Services
According to the figures published by KienlongBank in its report, as of Q2 2024, the Bank’s consolidated total assets reached VND 91,668 billion, an increase of VND 4,088 billion. Total capital mobilization reached VND 82,380 billion, an increase of VND 3,558 billion, and credit balance stood at over VND 56,184 billion, a rise of VND 3,444 billion compared to the previous quarter.
Service income for the quarter reached VND 121 billion for KienlongBank. Income from other business activities also contributed over VND 48 billion, an increase of VND 21 billion compared to Q1 2024, maintaining stable growth and contributing to the completion of the plan approved by the Annual General Meeting of Shareholders.
Closely following the directions of the Government and the State Bank of Vietnam (SBV), KienlongBank has proactively implemented synchronized solutions to promote effective credit growth. Accompanying enterprises and customers in the post-pandemic recovery and business development, the Bank has continuously launched attractive preferential packages. These packages are tailored to the specific needs of different customer segments, thereby facilitating their development and providing easier access to preferential credit packages to expand their production and business activities, as well as removing obstacles in economic development.
Thanks to its rigorous risk management measures and prudent risk appetite, the Bank’s non-performing loan ratio for the quarter remained low compared to the industry average, ensuring compliance with SBV regulations. In parallel, the Bank also proactively increased provisioning, improved its buffers, and enhanced asset quality to proactively cope with potential future challenges to ensure safe and sustainable operations.
As of Q2 2024, the Bank’s operating expenses increased mainly due to enhanced employee welfare and income, creating an ideal working environment for high-quality personnel. Additionally, the Bank expanded its business scale by investing in information technology infrastructure and launching innovative digital products and services to meet the diverse needs of various customer segments.
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KienlongBank’s determined investment efforts have resulted in a significant acceleration of its performance, setting it apart from its peers. For the second consecutive year, the Bank has been honored as one of the “Top 10 Innovative and Efficient Businesses in Vietnam in 2024 – VIE 10 – Banking Sector.”
Entering the third quarter of 2024, with a newly completed Board of Management for the 2023-2027 term, KienlongBank aims to strengthen its technology infrastructure and digital transformation. As the Bank celebrates its 29th anniversary and its proud journey of accompanying its customers, it is committed to delivering new experiences to its clients and realizing its vision of becoming a modern and friendly digital bank by 2025.
