BVBank reported nearly VND 505 billion in net interest income for the first quarter, a 7% increase from the previous year.
Foreign exchange operations saw a significant surge, with profits reaching nearly VND 33 billion, marking a 75% increase due to higher trading volumes (up 20%).
Conversely, income from service activities decreased by 13% to VND 18 billion, while profits from other activities dropped by 76%, amounting to just over VND 1.3 billion.
The bank successfully reduced operating expenses by 7%, totaling VND 333 billion. Consequently, profits from business operations climbed by 28%, reaching nearly VND 224 billion.
Despite a 35% increase in credit risk provisions, amounting to nearly VND 144 billion, BVBank’s pre-tax profit exceeded VND 80 billion, reflecting a 16% year-over-year increase.
In relation to the set target of VND 550 billion in pre-tax profit for 2025, BVBank has accomplished 15% in the first quarter.
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BVBank’s Q1/2025 business results in VND billion
Source: VietstockFinance
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As of the quarter’s end, the bank’s total assets expanded by 6% from the beginning of the year to VND 110,118 billion. While deposits at the SBV decreased by 53% to VND 1,287 billion, deposits at other credit institutions surged by 19% to VND 16,077 billion. Customer lending increased by 4% to VND 70,821 billion, with over 76% catering to individual customers and small and medium-sized enterprises.
On the funding side, deposits and loans from the government and the SBV remained unchanged from the beginning of the year at VND 1,571 billion. Deposits from other credit institutions rose by 8% to VND 14,632 billion, and customer deposits increased by 5% to VND 71,012 billion.
As of March 31, 2025, BVBank’s total non-performing loans stood at VND 2,432 billion, representing a 16% increase since the beginning of the year. The non-performing loan ratio also increased from 3.09% to 3.43% during this period.
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BVBank’s loan quality as of March 31, 2025, in VND billion
Source: VietstockFinance
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Han Dong
– 2:12 PM, April 28, 2025
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