Viet Tong Bank: Credit growth will be 10.6% in 2023, and the bad debt rate will be controlled below 1%
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Viet Tong Bank: Credit growth will be 10.6% in 2023, and the bad debt rate will be controlled below 1%Vietnam Stocks – Vietcombank (HM:): Credit growth 10.6% in 2023, bad debt rate controlled below 1%
On January 6, 2024, Vietnam Foreign Trade Joint Stock Commercial Bank (Vietcombank, HOSE: VCB) held a meeting to summarize business activities in 2023 and deploy tasks for 2024.
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Mr. Pham Quang Dung, Deputy Governor of the State Bank of Vietnam, spoke at the meeting |
In 2023, Vietcombank completed its 2023 plan goals: capital mobilization reached nearly 1.41 million VND, an increase of more than 12% from 2022; outstanding credit debt reached nearly 1.27 million VND, an increase of 10.6%. The quality of debt is controllable, with a bad debt rate of nearly 0.97% and a bad debt reserve rate of nearly 280%. The ROAA and ROAE indices remained at 1.78% and 21.68% respectively.
Profit before tax completes the specified plan. The total contribution to the national budget in 2023 will reach nearly 11.2 trillion VND. Vietnam Commercial Bank remains one of the largest contributors to the national budget.
Previously, Vietcombank’s 2023 shareholders’ meeting approved a target of 15% growth in pre-tax profits, with a minimum of nearly 43 trillion VND.
Han Dong
