BIDV (BIC) profit surges 85 pct
State-owned lender BIDV saw pre-tax profit in the first half surging 85 percent year-on-year to VND8.1 trillion ($351.93 million).
The BIDV logo seen on a building in Hanoi. Photo by Shutterstock/TK Kurikawa.
The figure put the bank in fifth place among lenders to have posted their financial earnings as of July 31, behind Vietcombank, Techcombank, VietinBank and VPBank.
BIDV’s income rose 43 percent to over VND31.66 trillion.
Provision for bad debts surged nearly 90 percent to VND15.4 trillion.
Its bad debt ratio fell from 1.76 percent in the beginning of the year to 1.63 percent.