14:12 | 13/05/2016 Finance - Banking
Vietinbank’s pre-tax profits in the first quarter of 2016 reached VND2.405 trillion (US$108.22 million), up 54% over the same period last year.
The lender, fully known as the Vietnam Bank for Industry and Trade, said as of March 31, its total assets were estimated at VND792 trillion (US$35.64 billion), up 1.6% from the end of 2015 and 22.6% from a year earlier.
Vietinbank is one of the largest commercial banks in Vietnam.
The bank’s total lending reached VND553 trillion (US$24.9 billion), up 2.8% from the end of last year, while deposits at the bank also rose 2.1% to VND503 trillion (US$22.6 billion).
Vietinbank continued to be one of the most successful lenders in controlling the quality of its loans with bad debt accounting for only 0.8% of outstanding credit, the lowest ratio in the banking system.
The lender said such results came as a result of its focus on safe and efficient business areas as well as its great risk management efforts./.