AsemconnectVietnam - In the first half of 2024, Bao Viet Group (BVH) has achieved many positive marks in its business activities.

Accordingly, the total consolidated revenue after the first 6 months of 2024 reached VND28,030 billion, equivalent to nearly USD1.1 billion. Consolidated profit before tax and after tax reached VND1,275 billion and VND1,057 billion, respectively, increasing by 9.5% and 9.3% over the same period in 2023. Total consolidated assets as of June 30, 2024 reached VND234,844 billion, an increase of 6.2% compared to December 31, 2023.
The total revenue of the Parent Company reached VND810 billion, profit after tax reached VND580 billion, increasing by 4.8% and 5.5% respectively compared to the same period in 2023, closely following the progress of the 2024 plan approved by the General Meeting of Shareholders. As of June 30, 2024, the total assets of the Parent Company reached VND18,396 billion, equity reached VND18,252 billion, increasing by 2.9% and 3.3% respectively compared to December 31, 2023.
With strong financial potential, leading capital and asset scale among insurance companies, Bao Viet always fulfills its commitments to shareholders, increasing value for investors. According to the profit distribution plan, in 2024 Bao Viet will spend more than VND745 billion to pay cash dividends, equivalent to 10.037% of the par value of shares.
In the first half of 2024, all areas of the group grew positively.
Specifically, the life insurance business reached VND21,558 billion in total revenue, up 19.9% with after-tax profit reaching VND630 billion.
In the first half of 2024, the insurance market had bright spots of positive recovery; Bao Viet Life proactively grasped and promoted the quality of dedicated, professional services, focusing on the interests of customers. Bao Viet Life has implemented many customer care programs such as gift exchange programs for loyal customers, scholarships for children of customers who have received insurance benefits, gift giving programs "Spring peace - Full year of happiness", "Increasing protection - living healthy and happy", "Protecting the whole family, traveling freely" ...
Along with that, Bao Viet Life continues to promote social security activities with scholarship programs "Bike Fund for Dreams", "Lighting up young talents", gratitude programs, supporting the poor, donating blood ...
The non-life insurance business sector achieved VND5,709 billion in total revenue, up 2.8%; after-tax profit reached VND178 billion, up 18.4% over the same period in 2023.
In order to show gratitude to customers, Bao Viet Insurance is currently implementing many attractive promotional programs. From now until December 31, 2024, Bao Viet Insurance cooperates with Elite Fitness to bring valuable gifts to members, including 600 high-end suitcases and 600 canvas bags from social enterprises, demonstrating Bao Viet Insurance's efforts in supporting the community, being a pioneer in "green living". At the same time, all Bao Viet Insurance customers participating in insurance during this time will also receive many attractive incentives such as free weekend training at Elite Fitness Club, 30% discount when buying a membership card, and 20% discount when buying a personal trainer package. At the end of the first 6 months of 2024, Bao Viet Securities Company (BVSC) achieved VND532 billion in total revenue and VND116 billion in after-tax profit (actual figures), up 55.2% and 59.7% respectively over the same period in 2023.
By continuously launching new utility services, BVSC has further demonstrated its interest in customers through promotional programs such as "Dragon Year Account - Hundreds of Lucky Coins", "Welcome to Summer - Great Offers" for customers opening new accounts, continuously linking with banks to increase the experience of fast and accurate deposits, meeting the needs of fast transactions. The new product "Margin T+" - 5 days of interest-free period is also a great assistant for short-term investors with low borrowing costs. In addition, BVSC continues to maintain its position as a leading securities company in the market and connects with many universities and training centers across the country to nurture the young generation and quality human resources for the future market.
The fund management sector continues to record stable growth. After the first 6 months of 2024, along with the recovery of the stock market, the performance of open-end funds has grown positively. All 3 open-end funds of BVF have scored particularly well with growth performance exceeding the growth of the reference index. Bao Viet Fund Management Company (BVF) has demonstrated its role as one of the leading fund management companies in the industry with growth in both the scale of assets under management, business results and investment. BVF hopes to attract more potential domestic and foreign investors to invest in the BVFVND fund, contributing to increasing the total assets under management of BVF, aiming at the goal of being the fund management company with the largest total assets under management in the Vietnamese market.
N.Nga
Source: VITIC/Tinnhanhchungkhoan