AsemconnectVietnam - Eximbank (Code: EIB) has just announced its financial report with pre-tax profit in Q3/2024 reaching nearly VND904 billion, an increase of 194.4%, triple that of the same period in 2023.

In Q2/2024, the bank's growth momentum came from key business segments such as credit, foreign exchange trading... Specifically, net interest income contributed significantly to the bank's profit with more than VND1,535 billion, up 76.8% over the same period. Net interest income from foreign exchange trading brought in nearly VND282 billion, up 265.3% over the same period. Net interest income from other business activities increased by 181.5%, bringing the bank VND89.2 billion.
On the other hand, service profit decreased by 11% (equivalent to more than VND115 billion), to VND103 billion. Investment securities trading activities lost more than VND40 billion, while in the same period last year, they made a profit of VND142 billion. The bank's total operating income (TOI) reached VND1,970 billion, up 59.5% over the same period. After deducting operating expenses (up 14%), net profit from business activities reached VND1,105 billion, up 131.8%. Eximbank used VND202 billion to reserve for credit risks (up 19% over the same period), but the bank still made a pre-tax profit of nearly VND904 billion, nearly 3 times higher than the same period last year. Accumulated in the first 9 months of the year, Eximbank made a pre-tax profit of nearly VND2,378 billion, up 39% over the same period last year. Thus, compared to the pre-tax profit plan of VND5,180 billion for the whole year of 2024, Eximbank has only achieved 46% of the target even after 9 months.
As of the end of September, the bank's total assets were VND223,684 billion, up 11%, of which customer loans grew by 13.6%, to VND159,483 billion. Customer deposits increased from VND156,329 billion at the beginning of the year to VND167,270 billion, up 7%.
In terms of asset quality, Eximbank's bad debt balance (from group 3 to group 5) at the end of the third quarter was VND4,318 billion, up nearly 16% compared to the end of the previous year, bringing the bad debt ratio up from 2.65% to 2.71%. Of which, the outstanding debt with the possibility of losing capital (group 5) increased by 51% compared to the same period last year from VND1,868 billion to VND2,825 billion.
N.Nga
Source: VITIC/Tinnhanhchungkhoan