BIDV’s total assets’ worth touches $41bn

HÀ NỘI – The Bank for Investment and Development of Việt Nam (BIDV) retained its position as the country’s largest commercial bank in terms of assets, the bank’s latest accumulated report said.

According to the report, BIDV’s total assets as of the end of June rose 9.2 per cent against January to reach more than VNĐ930 trillion (US$41.51 billion).

The bank’s credit and investment also increased 8.3 per cent to reach VNĐ876 trillion, while its capital mobilisation rose 13 per cent to touch VNĐ868 trillion, helping the bank claim a market share of 12.8 per cent of the entire banking system’s total capital mobilisation.

Thanks to the credit growth, BIDV’s accumulated profits as of the end of June reached VNĐ3.311 trillion, up 6.2 per cent year-on-year.

However, the bank’s non-performing loans increased sharply by 31 per cent against the end of last year, or by more than VNĐ3 trillion to reach VNĐ13.183 trillion. Of these debts, potentially irrecoverable debts and doubtful debts rose from VNĐ5.190 trillion and VNĐ887.76 billion to VNĐ6.343 trillion and VNĐ2.326 trillion, respectively.

The bank, however, controlled its total bad debts under two per cent as required by the central bank. - VNS