First quarter of 2022: VietinBank strengthens capital supply, focusing on risk management

April 29, 2022 11:50 GMT+7

In the first quarter of 2022, the entire VietinBank system has drastically and synchronously implemented solutions on the basis of closely following the development strategy and mid-term business plan 2021-2023 and achieved some positive results.

The scale of total assets as of March 31, 2022 is VND 1,663,730 billion, an increase of 8.6% compared to the beginning of the year. Loans to customers grew positively, focusing on customer segments with high profitability, the proportion of retail loans and SME customers continued to improve.

Customer deposits reached VND 1,213 trillion, an increase of 4.4% compared to December 31, 2021, capital sources were balanced in line with the growth of credit balance, focusing on increasing payment deposits and deposits. short term. The size and proportion of CASA deposits continues to grow…

VietinBank concentrates resources and effectively implements business topics.

Besides, VietinBank always accompanies, advises and supports customers; contributing to macroeconomic stability, under the direction of the Government and the State Bank. The Bank focused on implementing measures to improve the structure of profitable assets; increasing payment deposits and short-term deposits in order to save capital costs; drastically improve products and services with high technology content and improve customer service quality, effectively deploying campaigns to attract and expand customer development, risk management, and efficiency optimization. use costs.

In particular, VietinBank continues to maintain interest and fee exemption and reduction policies to support customers affected by the Covid-19 epidemic; At the same time, from January 1, 2022, VietinBank has implemented the “0-fee party” program in which all transfer fees and maintenance of payment accounts are waived in order to attract customers to use and experience the products. , a utility service associated with payment accounts on VietinBank’s iPay and eFAST application platforms.

Operating income grew by 8.9% year-on-year. In which, it is noteworthy that the revenue from risk treatment and foreign currency trading increased by 163% and 130% respectively over the same period in 2021. Net profit from other activities reached VND 1,877 billion, up 328% over the same period. period 2021. Operational costs continue to be controlled and efficiency improved, prioritizing costs for activities directly serving business activities, digital transformation activities, improving service quality and quality. human resources to create a premise for the bank’s sustainable development.

Credit risk provisioning expense in the first quarter of 2022 was about VND 4.4 trillion, an increase of more than VND 3 trillion (equivalent to an increase of 228%) over the same period last year because VietinBank always proactively identified risks and changed debt groups. appropriate to the client’s risk level; at the same time, make full provision of DPRR in accordance with regulations of the State Bank. The bad debt ratio is under control, the bad debt coverage ratio increases from 180% in 2021 to more than 190%. Consolidated pre-tax profit in the first quarter of 2022 reached more than 5.8 trillion dong, creating a premise for VietinBank to complete the whole year plan, continue to promote well its role as a key state-owned commercial bank, a pillar of the economy. , making a great contribution to the State Budget and the country’s socio-economic development in the coming time.

On the basis of the encouraging results achieved in the first quarter of 2022, VietinBank will continue to focus its resources to vigorously implement the business themes: Safe and effective credit growth; boost capital and CASA growth; promoting solutions to increase non-interest income… at the same time focusing on financial management; executive administration; risk management, inspection and control and debt collection and handling… in order to accelerate and make a strong breakthrough in business activities in the remaining months of 2022.

PV