BIDV reports pre-tax profit of 414.2 million USD last year
The Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) has announced its pre-tax profit in 2018 rose 11 percent year on year to 9.62 trillion VND (around 414.2 million USD).
Hanoi (VNA) - The Joint StockCommercial Bank for Investment and Development of Vietnam (BIDV) has announcedits pre-tax profit in 2018 rose 11 percent year on year to 9.62 trillion VND (around414.2 million USD).
According to BIDV, the figure has beaten itsfull-year pre-tax forecast by 3.5 percent. The forecast was made at 9.3trillion VND (400.5 million USD) at the beginning of last year.
The banking division contributed 93 percent ofthe bank’s total pre-tax profit, equal to 8.96 trillion VND (385.7 million USD),which was up 12 percent year on year.
Associate and member companies such as BIDVSecurities Corp and BIDV Insurance Corp contributed 666 billion VND (28.6million USD) to the bank’s total figure.
At the end of last year, the bank recorded 1.28quadrillion VND (55.11 billion USD) worth of total assets, which was up 9.1 percentfrom 2017 and helped BIDV remain Vietnam’s largest bank by assets.
Total lending and investment reached more than 1.2quadrillion VND (51.67 billion USD), up 6.8 percent from 2017, of which lendingvalue was up 13.3 percent year on year to more than 977 trillion VND (42billion USD).
In 2018, BIDV’s total raised capital increased 9percent yearly to more than 1.2 quadrillion VND, including 1.03 trillion VND (44.3million USD) raised from savings.
The bank last year raised 4.58 trillion VND frombond issuance and signed a 300 million USD credit contract with the AsiaDevelopment Bank (ADB).
BIDV is listing more than 3.4 billion shares onthe Ho Chi Minh Stock Exchange with code BID. The bank shares ended January 16flat at 31,900 VND (1.37 USD) per share.-VNA
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Illustrative image (Source: VNA) 
