“A Revenue Boost: BIDV’s Pre-Tax Profit Surges by 19% in Q4”

**BIDV’s Q4 and Full-Year 2024 Results: A Comprehensive Overview**

BIDV’s performance in Q4 2024 remained relatively stable, with a slight increase in core operations, generating VND 15,638 billion in net interest income, a modest 5% growth year-on-year.

A notable highlight of the bank’s performance in the last quarter was the significant boost in non-interest income sources. Service activities yielded nearly VND 1,967 billion, reflecting a 22% increase compared to the previous year. Additionally, trading activities in securities resulted in a profit of almost VND 104 billion, a substantial improvement from the mere VND 12 billion in the same period last year. Furthermore, profit from investment securities trading witnessed a 65% surge, climbing to VND 5,164 billion. Most remarkably, the “other activities” category turned around from a loss to a profit of over VND 1,949 billion.

Despite a 20% rise in operating expenses, amounting to VND 9,382 billion, BIDV’s bottom line benefited from the overall growth in its business, resulting in a 33% increase in net profit from business operations, surpassing VND 17,023 billion.

In the fourth quarter, BIDV allocated nearly VND 7,687 billion for credit risk provisions, marking a 56% increase. Nevertheless, the bank’s pre-tax profit still climbed by 19%, reaching over VND 9,336 billion.

For the full year 2024, BIDV’s pre-tax profit exceeded VND 31,383 billion, representing a solid 14% year-on-year growth.

As of the end of 2024, BIDV’s total assets surpassed VND 2.76 quadrillion, indicating a 20% expansion from the beginning of the year. Notably, the bank’s deposits at the State Bank of Vietnam increased by 79% (VND 92,341 billion), while customer lending grew by 16% (nearly VND 2.1 quadrillion). Customer deposits also rose by 15%, surpassing VND 1.95 quadrillion.

The bank’s total non-performing loans as of December 31, 2024, stood at VND 29,035 billion, a 30% increase compared to the start of the year. Consequently, the non-performing loan ratio edged up slightly from 1.26% to 1.41%.

Hàn Đông

– 09:12 25/01/2025

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