Local banks perform well in first half of the year

Vietcombank announced that its pre-tax profit in H1 had crossed US$220 million, up 20 per cent year on year, and more than half of its 2017 target. Vietinbank also posted a pre-tax profit of 205 million USD, up 12 per cent year on year, which fulfills 54 per cent of this year's target. Joint stock commercial banks like Sacombank and OCB also posted optimistic results in H1. As per a recent survey on business trends of credit institutions, conducted by the State Bank of Viet Nam's Statistics Department, 64 per cent of the credit institutions affirmed that business conditions in Q2 of 2017 noticeably improved compared to Q1.