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Banking News (Week 29, 2021)

Banking News (Week 29, 2021)

Friday 23, 07 2021
Following is the news brief on Vietnam’s banking industry for the 29th week of 2021 compiled by VietnamCredit.

BIDV

BIDV's profit before tax in the second quarter of 2021 increased by 51% over the same period in 2020, to VND 3,850 billion thanks to high credit growth, at 7% compared to an increase of 2.35% in the first half of 2020.

BIDV

TPBank

Tien Phong Commercial Joint Stock Bank (TPBank) recorded a pre-tax profit of more than 3,000 billion VND in the first six months of this year, up nearly 48% over the same period last year and completing 54% of the full-year profit plan. Besides, TPBank increased total assets to more than 242 trillion VND, nearly reaching the target of 250 trillion VND for the whole year. By the end of June 2021, TPBank had mobilized more than VND 217 trillion, up 17.5% compared to the end of 2020 and equivalent to 98.3% of the year plan. Notably, TPBank has made sufficient provision for risks, and at the same time has also made enough additional provision for the restructured loan balance according to the newly issued Circular 03/2021 of the State Bank.

TPBank

ABBank

An Binh Commercial Joint Stock Bank (ABBank) achieved a pre-tax profit of 1,164 billion VND in the first six months of this year, up 85% compared to the same period in 2020. Credit balance reached nearly 74 trillion VND, up 17.3 % over the same period in 2020 and increased by 6.4% compared to December 31, 2020.

BAC A BANK

BAC A BANK becomes a member bank to lend to the end borrowers who are small and medium enterprises. Preferential maximum loan term is up to 15 years, applying interest rate from only 8.45%/year. BAC A BANK hopes that the capital from the "Rural Development Finance II" project will support the businesses can take initiative in business capital, and at the same time bring positive changes to the face of rural Vietnam. BAC A BANK's staff is always ready to advise and support procedures and documents so that customers can quickly access this preferential financial source, minimizing reticence and apprehension.

BacABank

Sacombank

Sacombank is deploying a preferential capital of up to 10,000 billion VND with an interest rate of 4% a year, a maximum loan term of 6 months for exporters as well as supporting businesses to overcome difficulties in production and business activities. The preferential capital of 10,000 billion VND is applied by the Bank from June 18 to the end of December 31, 2021, or when the source runs out, whichever comes first. Soon, the Bank will continue to offer other incentive packages to further enhance practical solutions to accompany customers.

VietABank

According to the announcement from Hanoi Stock Exchange (HNX), on July 20, 2021, more than 444.96 million shares, equivalent to a total value of approximately 4,450 billion VND of Vietnam Asia Commercial Joint Stock Bank(VietABank) will register for trading on UPCoM with the stock code VAB. In 2021, VietABank sets a target of total assets of 97,075 billion VND, capital mobilization from economic organizations and residents at 66,150 billion VND, pre-tax profit of 658 billion VND, an increase of 62% compared to the performance in 2020. In addition, the Bank also plans to increase its charter capital from 4,450 billion VND to 5,400 billion VND through the issuance of 95 million shares to pay dividends to shareholders, equivalent to 21.35%. The expected completion date is 2021.

VietABank

Compiled by VietnamCredit

Categories
Banking & Finance

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