87% of credit institutions enjoy positive growth in 2022
Credit policy, interest rates, and exchange rates of the central bank were the most important factors in 2022.
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Some 80 per cent of credit institutions said their business performance improved in 2022 compared to 2021, according to the latest survey from the State Bank of Vietnam (SBV).
The survey on business trends at credit institutions revealed that 87 per cent enjoyed growth in pre-tax profit compared to 2021.
They said that the credit policy, interest rates, and exchange rates of the central bank were the most important contributing factors, followed by business conditions, customer finances, and the economy’s demand for their products and services.
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| 87% of credit institutions enjoy positive growth in 2022. |
Credit institutions are more cautious about their forecasts, with 56.4-75.4 per cent of respondents expecting better business performance in the first quarter and 2023 as a whole; lower than in 2022.
According to Viet Nam Import-Export Commercial Joint Stock Bank (Eximbank), the bank's 9-month pre-tax profit reached nearly VND3,200 billion, while the same period last year announced the figure of only VND966 billion.
As of September 30, 2022, total bank assets increased by 10.8 per cent; deposits from customers increased by 5.7 per cent; credit balance increased by 10.3 per cent (close to the granted credit growth limit of 11.2 per cent), of which no credit was granted, which was corporate bonds.
Meanwhile, at Viet Nam Thuong Tin Commercial Joint Stock Bank (Vietbank), the 9-month accumulated pre-tax profit also increased sharply by 36 per cent compared to the same period last year, reaching VND536 billion.
As of September 30, 2022, Vietbank's total assets reached VND109,207 billion, an increase of 5.6 per cent compared to the beginning of the year.
The most impressive is Saigon – Ha Noi Commercial Joint Stock Bank (SHB), with a growth of 79 per cent over the same period in 2021, reaching more than VND 9,035 billion in pre-tax profit after nine months.
Also, the growth of Southeast Asia Commercial Joint Stock Bank (SeABank) reached 58.7 per cent over the same period, recording a pre-tax profit of more than VND4,016 billion.
en.vneconomy.vn
