BIDV Posts VND6.382 Tln Consolidated Net Profit in 2015, Up 28% YoY

February 16, 2016

However, after deducting VND553 billion accumulated loss transferred from MHB in the merger and VND12 billion minority shareholders’ interest, BIDV’s retained profit was at VND5.843 trillion, up 18.1% year-on-year.

In 2015, BIDV earned VND7.944 trillion pre-tax profit, up 26.2% year-on-year.

In 2015, BIDV recorded profits in all areas of operations except trading securities with VND70 billion loss compared to VND210 billion profit in 2014. Its net interest income reached VND19.372 trillion, up 15% year-on-year.

Service activities, other activities and capital contribution/share purchase brought the bank VND2.335 trillion, VND2.337 trillion and VND481 billion, up 29.5%, 46.6% and 29.3% respectively. Meanwhile, forex trading and investment securities gained VND223 billion and VND28 billion, down 16.1% and 96.6% respectively.

In 2015, BIDV’s total expenses were at VND10.958 trillion, up 27.1%. Its net profit from operations before provisions reached VND13.747 trillion, up 3.5%. Its provision expenses were at VND5.803 trillion, down 16.9%.

At the end of Q4, the bank’s total assets were at VND850.748 trillion, up 30.8% from the end of 2014. Its customer deposits were at VND564.589 trillion, up 28.2%. Its outstanding loans to customers reached VND598.457 trillion, up 34.3%.

The bank’s non-performing loan (NPL) ratio was at 1.62%, down from 2.03% at the end of 2014. However, its potentially irrecoverable debts surged 59% to VND5.193 trillion.