Bảo Việt revenue up 19% in Q1

 

Bảo Việt reported after-tax profit of more than VNĐ455 billion in the first quarter, a year-on-year decrease of 10 per cent. — Photo plo.vn

Life insurance rose by nearly 20 per cent, reaching over VNĐ5.53 trillion. Non-life insurance premiums brought in approximately VNĐ2.67 trillion, up 10.5 per cent.

Total direct spending by the insurance business reached more than VNĐ7.33 trillion, a decrease of about 3 per cent over the same period last year. 

During the first quarter, the group’s financial income dropped sharply by 37 per cent to VNĐ1.79 trillion, of which deposit interest was over VNĐ1.01 trillion, up 73 per cent over the same period.

Income from securities investment and trading activities only reached VNĐ41 billion while in the same period last year, the figure was nearly VNĐ1.39 trillion.

As a result, Bảo Việt reported after-tax profit of VNĐ455 billion in the first quarter, a year-on-year decrease of 10 per cent, of which the company owner's profit was VNĐ444.3 billion, down 8.5 per cent against Q1 in 2018.

By the end of the first quarter, Bảo Việt's total assets were valued at over VNĐ116.56 trillion, an increase of about 3 per cent compared to the beginning of the year.

Short-term assets reached more than VNĐ72.97 trillion, up 5.3 per cent. Cash and cash equivalents reached over VNĐ3.03 trillion, an increase of about 40 per cent year-on-year. — VNS