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VietinBank pre-tax H1 profits up 75 pct

By Quynh Trang   June 30, 2021 | 05:00 pm PT
VietinBank pre-tax H1 profits up 75 pct
People ride past a VietinBank branch in Hanoi, Vietnam. Photo by Reuters/Kham.
State-owned lender VietinBank has recorded pre-tax profits of VND13 trillion ($565.2 million) in the first six months of 2021, a year-on-year increase of 75 percent.

Its ratio of non-performing loans at the end of Q2 was 1.38 percent, chairman Le Duc Tho said, adding that the targeted non-performing loans ratio for this year was 1-1.2 percent

The bank’s total assets value at the end of June was VND1.4 quadrillion ($60.8 billion), while its loans outstanding were VND1.06 quadrillion, according to its CEO Tran Binh Minh.

Capital mobilization as of June reached VND1.2 quadrillion, up 3.4 percent year-on-year.

The bank plans to increase its charter capital by 29 percent to over VND48 trillion this year by paying dividend in shares.

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