BVH earns $1b in revenue in 9mths
BVH earns $1b in revenue in 9mths
Bao Viet Group (HOSE: BVH) recorded a consolidated revenue of VND23.36 trillion (US$1.02 billion) in the first nine months of this year, a year-on-year surge of 26.8 per cent.
This result helped the group achieve its business target for this whole year and become the first firm in the finance and insurance sector to earn $1 billion in consolidated revenue.
The group achieved a breakthrough in the life and non-life insurance business. Revenue of the life insurance and non-life insurance sectors achieved year-on-year growth of 28.9 per cent and 23.9 per cent, respectively, in the first nine months.
The group’s total assets also increased by 17.5 per cent to VND85.78 trillion in comparison with total assets at the end of 2016.
The Ministry of Finance’s Insurance Management and Supervisory Department reported that Bao Viet’s life insurance was the leader in the domestic life-insurance market with 20.5 per cent of the total new premium revenue of the market. Bao Viet insurance maintained growth rate of 12.4 per cent in premium revenue.
Since equitisation, Bao Viet Group has paid VND18 trillion in taxes. From August 31, 2017, the group has paid dividend at 10 per cent, or VND680.5 billion, 2 per cent higher than the plan approved by the general meeting of shareholders in 2016.
