AsemconnectVietnam - In the first 6 months of 2023, Kien Long Commercial Joint Stock Bank (KienlongBank, code KLB - UPCoM) recorded positive business results with positive growth momentum.

Specifically, in the first 6 months of the year, KienlongBank recorded a consolidated pre-tax profit of VND402 billion, completing 58% of the year target; consolidated profit after tax reached VND321.4 billion, up 15% compared to the first 6 months of 2022.
In the second quarter of 2023 alone, KienlongBank's consolidated pre-tax profit reached VND199.8 billion, down nearly 12% over the same period last year. This decrease comes from the Bank's implementation of policies to accompany and support customers to borrow capital, and its willingness to share difficulties with people and businesses; strengthen the communication of digital transformation products and services so that customers and people can easily access, increase the utility of using banking products and services, as well as increase remuneration and revenue policies for staff.
KienlongBank's total assets recorded by the end of the second quarter of 2023 reached VND86,408 billion, total capital mobilization reached VND77,571 billion. Also in this period, outstanding credit at KienlongBank reached VND48,554 billion, an increase of 6.72% compared to 2022, focusing on key areas such as agriculture and rural development, infrastructure development, etc. contribute to socio-economic development, change urban appearance.
According to the plan approved by the General Meeting of Shareholders, KienlongBank has completed 100.47% of the plan in terms of total assets; total capital mobilization and credit balance reached 99.45% and 92.48%, respectively.
In addition, thanks to the completion of the application of Basel II standards and the successful transformation of the target business model, the bad debt ratio of the whole line was maintained at 1.4%, below the allowed level of 3% and at the same time ensures compliance with regulations of the State Bank.
In the last 6 months of 2023, the economy still faces many challenges, but with the initiative and flexibility, KienlongBank promotes retail activities with digital products to anticipate and make good use of market opportunities, bringing business activities of the Bank for Sustainable Development. With a vision to become a modern bank by 2025, KienlongBank promises to launch more digital products and services to increase value in one "touch point" with target customers.
N.Nga
Source: VITIC/Tinnhanhchungkhoan