VietinBank in Ho Chi Minh City: Profit on first 6 months reached 66% of the plan of the year
VietinBank in Ho Chi Minh City: Profit on first 6 months reached 66% of the plan of the year
On the 6 months of 2011, the fund mobilization activities came under high pressure with tough competition on interest rates. Many banks have applied not only attractive promotional policies but also mobilize funds with high interest rates. This has affected the fund mobilization activities of VietinBank-HCMC Branch. However, with the application of flexible customer care policy and assign the fund mobilization targets to each employee, mobilized fund of the Branch has a good growth. The mobilized fund increased by VND 1,100 billion in comparison with that at the end of 2010, equivalent to an increase of 7.79%, reaching VND 4,644 billion (43.89%) against the same period of last year.
Relating on credit activities, the Branch promote funding to the exporters, giving priority to the manufacturing sectors, economic programs of the Government, the key programs of HCM City; to the small and medium enterprises, consumer funding and supporting industries. Priority of funding in foreign currency is given to meet the demand for importing the essential goods in the economy ...
With the above solutions, loan and investment growth of the Branch not only increase but the credit quality is also maintained aiming for safety, efficiency and low NPL. By the end of June 2011, total outstanding loans of the branch was VND 12,480 billion, increased by VND 4,565 billion (equivalent to 57.66%) over the same period of last year, achieving nearly 70% the plan for the whole year 2011. Out of total outstanding loans, loans for export reached VND 2,603 billion, an increase of VND 2,051 billion (371%) over the end period of 2010.
Besides the good performance in fund mobilization and funding, other banking activities and services of the Branch also achieved positive results. The products and services of Branch are always appreciated by customers. Many products are growing fast, strong and achieve a significant market share in local area, such as card services, safe deposit box, leasing, student support services package ...
For the first 6 months, the Branch attained over VND 40.34 billion service income, increased by nearly VND 9.78 billion (32%). In which the revenue from card services increased by VND 2.78 billion (85%), trade finance increased by VND 3.26 billion (22%), foreign currency dealings by VND 0.53 billion (50 %)...
Card Services is a fast-growing service, for the first six months the Branch issued 31,265 ATM cards, reached 34.74% of the plan; issued 3,642 credit cards, reached 93.38%, installed 492 EDC machines, reached 223.63% of the plan of the year; card payments in EDC were VND 277 billion, reached 83% of the plan in 2011.
Over the first 6 months, although the banking operations continued facing many difficulties, with strong efforts, VietinBank HCMC obtained VND 632.857 billion in profit (after provisioning), reached 66.15 % of the year plan. It is estimated that by the end of the year, VietinBank HCMC will fulfill the assigned profit targets in 2011
On the 6 months of 2011, the fund mobilization activities came under high pressure with tough competition on interest rates. Many banks have applied not only attractive promotional policies but also mobilize funds with high interest rates. This has affected the fund mobilization activities of VietinBank-HCMC Branch. However, with the application of flexible customer care policy and assign the fund mobilization targets to each employee, mobilized fund of the Branch has a good growth. The mobilized fund increased by VND 1,100 billion in comparison with that at the end of 2010, equivalent to an increase of 7.79%, reaching VND 4,644 billion (43.89%) against the same period of last year.
Relating on credit activities, the Branch promote funding to the exporters, giving priority to the manufacturing sectors, economic programs of the Government, the key programs of HCM City; to the small and medium enterprises, consumer funding and supporting industries. Priority of funding in foreign currency is given to meet the demand for importing the essential goods in the economy ...
With the above solutions, loan and investment growth of the Branch not only increase but the credit quality is also maintained aiming for safety, efficiency and low NPL. By the end of June 2011, total outstanding loans of the branch was VND 12,480 billion, increased by VND 4,565 billion (equivalent to 57.66%) over the same period of last year, achieving nearly 70% the plan for the whole year 2011. Out of total outstanding loans, loans for export reached VND 2,603 billion, an increase of VND 2,051 billion (371%) over the end period of 2010.
Besides the good performance in fund mobilization and funding, other banking activities and services of the Branch also achieved positive results. The products and services of Branch are always appreciated by customers. Many products are growing fast, strong and achieve a significant market share in local area, such as card services, safe deposit box, leasing, student support services package ...
For the first 6 months, the Branch attained over VND 40.34 billion service income, increased by nearly VND 9.78 billion (32%). In which the revenue from card services increased by VND 2.78 billion (85%), trade finance increased by VND 3.26 billion (22%), foreign currency dealings by VND 0.53 billion (50 %)...
Card Services is a fast-growing service, for the first six months the Branch issued 31,265 ATM cards, reached 34.74% of the plan; issued 3,642 credit cards, reached 93.38%, installed 492 EDC machines, reached 223.63% of the plan of the year; card payments in EDC were VND 277 billion, reached 83% of the plan in 2011.
Over the first 6 months, although the banking operations continued facing many difficulties, with strong efforts, VietinBank HCMC obtained VND 632.857 billion in profit (after provisioning), reached 66.15 % of the year plan. It is estimated that by the end of the year, VietinBank HCMC will fulfill the assigned profit targets in 2011
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