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As of September 30, 2023, BIDV's (BID) credit balance increased by 8.4% compared to the beginning of the year 

 Wednesday, November 8,2023

AsemconnectVietnam - Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV, code BID - HOSE) has just announced its financial report for the third quarter of 2023.

By the end of the third quarter of 2023, BIDV's total consolidated assets reached over VND2.13 million billion, continuing to maintain its position as the bank with the largest total assets in the market.
Mobilizing capital to meet capital needs, ensuring system liquidity safety. By September 30, 2023, customer deposits and valuable paper issuance reached nearly VND1.75 million billion, an increase of 7% compared to the beginning of the year. Capital mobilization grew well in retail and wholesale segments, increasing efficiency and stability of the capital base.
Outstanding credit balance focuses on the production sector, priority areas and growth drivers according to the Government's policy and direction of the State Bank. By September 30, 2023, outstanding credit balance increased by 8.4% compared to compared to the beginning of the year, of which customer loans reached VND1.65 million billion, an increase of 8.6%. Credit balance grew steadily in both retail (8.6%) and wholesale (8.3%) segments, contributing to supporting business and consumption activities of businesses and people.
Credit quality is controlled within limits, bad debt ratio according to Circular 11/2021/TT-NHNN dated September 30, 2023 is controlled according to orientation (≤1.4%). BIDV makes full risk provisions according to regulations. Operational safety indicators are guaranteed according to State regulations.
The consolidated revenue and expenditure gap reached VND35,173 billion. Consolidated pre-tax profit reached VND19,763 billion, up 11.8% over the same period last year.
On September 3, BIDV's Core Banking Profile core banking system officially went into operation, fully integrating more than 100 applications into the core banking system, ensuring safety and accuracy of information.
The successful implementation of Core Banking Profile is expected to open a new page in the Bank's development history, bringing comprehensive breakthroughs, especially in orientation, business development strategy, and development thinking. Developing products and services, organizational models, management models, operational processes..., contributing to improving the quality of products and services, increasing customer satisfaction, thereby strengthen the bank's position in the future.
In the coming time, BIDV will continue to closely monitor the system situation, manage business activities in the direction of safe and effective credit growth, focus on increasing non-interest revenue sources, and enhancing e-banking services, maximizing revenue sources and controlling costs, striving to complete the set business plan goals.
N.Nga
Source: VITIC/Tinnhanhchungkhoan
 

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