BIDV's Q3 profit jumps 25%
The Bank for Investment and Development of Vietnam (BIDV) reported a year-on-year 25 per cent increase in its third-quarter pre-tax profit to over VND5.5 trillion (US$246 million), attributable to its business efficiency and stable growth.
By the end of the third quarter, the bank's total outstanding loans reached over VND570 trillion ($25.5 billion), up 15 per cent compared to the beginning of the year, leading the country's banking sector in terms of positive growth.
BIDV also reported a 20 per cent increase to roughly VND786 trillion ($35.1 billion) in its total assets against late 2014, ranking first in the joint stock commercial banking system regarding operational scale among the current largest banks in the market.
The bank's credit market share reached approximately 13 per cent, up 1.3 percentage points against 2014.
BIDV said it has been boosting credit growth with capital focused on priority areas as directed by the government and the State Bank.
BIDV has been rated as having a stable outlook by Moody's and Standard & Poor's Ratings Services, ranking among the group of banks with highest credit rating in Viet Nam.