BaoViet Bank Reports Positive Business Results in First Half, Assets Reach VND 109.5 Trillion

BaoViet Bank (BaoViet Commercial Joint Stock Bank) has reported that its pre-tax profit for the first half of the year increased by 12% compared to the same period last year, with total assets maintained at VND 109.5 trillion. According to BaoViet Bank, many business indicators showed growth in the first six months compared to the previous year. Lending activities continued to be the main driver, with net interest income increasing by 44.4%. Net profit from the trading of business securities rose by 16%, while profits from the trading of investment securities also improved compared to the same period. Conversely, income from service activities decreased by nearly 60%. The bank explained that the primary reasons were adjustments in credit structure and reductions in service fees to support customers. BaoViet Bank stated that its business results reflect the effectiveness of solutions aimed at expanding capital mobilization, developing credit in a safe direction, and enhancing financial capacity. The bank maintained its operational safety indicators in accordance with State Bank regulations while meeting customer capital needs. In the first half, cooperation with entities within the BaoViet ecosystem was also intensified. Many targets, such as new customer development, personal credit growth, and the rate of income payment through BaoViet Bank accounts, exceeded plans. For the second half of the year, BaoViet Bank aims to improve growth quality in conjunction with risk control, considering the volatile financial and banking market. The bank plans to continue investing in digital transformation, optimizing operations, and selectively developing its personal and small and medium-sized enterprise segments. Concurrently, BaoViet Bank aims to increase the proportion of low-cost capital, expand revenue from services, and enhance customer experience. Alongside its growth objectives, BaoViet Bank will continue to strengthen business connections with member units of BaoViet Group and maintain safety ratios as stipulated by the State Bank of Vietnam. The bank emphasized that risk management continues to be a priority, covering the identification, measurement, monitoring, and control of risks in business operations. BaoViet Bank is also progressively completing its management system according to the State Bank's roadmap to build a foundation for stable growth in the future.