Bac A Bank reported nearly VND 874 billion in net interest income for the first quarter, an 8% increase year-on-year.
On the flip side, most non-interest income sources witnessed a decline, including a 6% decrease in service fees, a nearly VND 4 billion loss in foreign exchange trading, and a 62% drop in other operating income. Notably, investment securities trading yielded nearly VND 64 billion in profits, a five-fold increase compared to the same period last year.
Consequently, the bank’s net income from operating activities surpassed VND 421 billion, marking a 24% rise. During the quarter, Bac A Bank set aside nearly VND 107 billion in credit risk provisions but reversed almost VND 53 billion, resulting in a pre-tax profit of over VND 367 billion, an 8% increase year-on-year.
With an annual pre-tax profit target of VND 1,300 billion, the bank has accomplished 28% of its goal in the first three months.
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Bac A Bank’s Q1/2025 Financial Results in billions of VND. BAB. Unit: VND trillion
Source: VietstockFinance
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As of the quarter’s end, total assets stood at VND 175.365 trillion, reflecting a 6% growth since the beginning of the year. Customer loans witnessed a modest 1% increase (VND 111.173 trillion), while customer deposits climbed by 2% (VND 124.794 trillion).
Non-performing loans as of March 31, 2025, totaled nearly VND 1.406 trillion, a 3% increase from the start of the year. Consequently, the non-performing loan ratio inched up from 1.24% to 1.26%.
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Loan Quality of BAB as of 31/03/2025. Unit: VND billion
Source: VietstockFinance
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– 15:58 29/04/2025
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