Vietnam 

PG Bank targets over $9m pre-tax profit this year – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  The total number of employees at PG Bank by the end of 2018 was 1,504, a decrease of 108. — Photo pgbank.com.vn HÀ NỘI — Petrolimex Group Commercial Joint Stock Bank (PG Bank) targets pre-tax profit of VNĐ211 billion (US$9.06 million) in 2019 and total assets to reach nearly VNĐ32.74 trillion by December 31, 2019, a year-on-year increase of 9 per cent. The figures were released in the recently published document of the annual shareholders’ meeting of the bank. The bank said it would add enough resources to implement debt…

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Vietnam 

Techcombank targets US$504.3 million in pre-tax profit – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Techcombank has targeted a pre-tax profit of more than VNĐ11.7 trillion (US$504.3 million) in 2019, representing a 10 per cent year-on-year increase. — Photo vietnamfinance.vn HÀ NỘI — Techcombank has targeted a pre-tax profit of more than VNĐ11.7 trillion (US$504.3 million) in 2019, representing a 10 per cent year-on-year increase. The target was approved at its annual shareholders’ meeting held in Hà Nội last week. It also planned to increase its total assets by 17 per cent to VNĐ375.8 trillion this year while holding outstanding loans at VNĐ245.4 trillion, up 32 per cent from…

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Vietnam 

VIB aims for 24 per cent pre-tax profit growth in 2019 – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

A client withdraws money from a VIB ATM. – Photo ndh.vn Viet Nam News HÀ NỘI — Vietnam International Bank (VIB) has set a target of earning a pre-tax profit of VNĐ3.4 trillion (US$146 million) in 2019, up 24 per cent year-on-year.  The bank’s total assets are expected to reach VNĐ182.9 trillion while its total lending balance will amount to VNĐ136.5 trillion by the end of this year. VIB expected to maintain its bad debts at below 2 per cent, the bank said in a press release published on…

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Home 

Pre-tax profits rise at Hong Kong banks for third year, but loan growth decline may weigh on sector in 2019

Pre-tax profits at Hong Kong banks rose for a third straight year in 2018, thanks to a wider interest margin after the lenders raised their prime lending rate for the first time in 12 years, the Hong Kong Monetary Authority said on Thursday. Growth in pre-tax profits in 2018 was also higher, at 19.4 per cent; it stood at 15.7 per cent in 2017 and 8.3 per cent in 2016. The sector recorded a decline of 2.8 per cent in 2015. Technology push could open Hong Kong banks to more…

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Vietnam 

BIDV Insurance earns $9m in pre-tax profit – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

In 2019, BIC has targeted total premiums of VNĐ2.2 trillion and consolidated profit before tax of VNĐ223 billion. — Photo vnr500.com.vn Viet Nam News HÀ NỘI – BIDV Insurance Corporation (BIC) has reported profit before tax of nearly VNĐ203 billion (US$8.7 million) in 2018, beating its yearly target by 6.7 per cent. This number is also 8.8 per cent higher than the previous year. Total premiums the company earned from insurance sales reached more than VNĐ2.1 trillion ($90.3 million), up 16.3 per cent year-on-year and surpassing its goal…

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Vietnam 

BIDV reports 11% increase in 2018 pre-tax profit – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

A teller prepares cash for individual loans at a BIDV branch in Quảng Trị Province. The bank reported its pre-tax profit in 2018 was up 11 per cent year on year to VNĐ9.62 trillion. — VNA/VNS Photo Trần Việt Viet Nam News HÀ NỘI — The Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) has announced its pre-tax profit in 2018 rose 11 per cent year on year to VNĐ9.62 trillion (US$414 million). According to BIDV, the figure has beaten its full-year pre-tax forecast by…

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Vietnam 

Techcombank posts 61 per cent pre-tax profit hike – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Techcombank’s pre-tax profit growth far exceeded TOI growth because of the bank’s efforts to clear its Việt Nam Asset Management Company (VAMC) balance. — VNS Photo Viet Nam News HÀ NỘI — The Việt Nam Technological and Commercial Joint Stock Bank (Techcombank)’s pre-tax profits hit VNĐ7.77 trillion (US$332.9 million) in the first nine months of the year, posting 61 per cent increase over the same period last year.  Its pre-tax profit growth far exceeded total operating income (TOI) growth as a result of the bank’s efforts to clear…

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Vietnam 

VIB’s pre-tax profit skyrockets 176% in 9 months – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI — The Vietnam International Bank (VIB) recorded a significant increase of 176 per cent in pre-tax profit to VNĐ1.72 trillion (US$75.5 million) in the past nine months, according to data released on Monday. The bank’s pre-tax profit in the first nine months accounted for 86 per cent of its annual target. Its revenue increased by 48 per cent year-on-year, of which interest income and non-interest income were up 50 per cent and 37 per cent, respectively.   The cost-to-income ratio at VIB dropped to 48 per cent from…

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