According to Q1/2019 financial report of Viet A Joint Stock Commercial Bank (Viet A BankVAB), the bank’s total assets decreased sharply by 39 percent compared to the beginning of the year, to 61.350 trillion dong. Customer deposits also dropped by 0.04 percent compared to the beginning of the year, to 41.201 trillion dong. However, customer loans increased by 3.2 percent and reached 38.785 trillion dong, but net interest from loans decreased by 42 percent compared to the same period in 2018, to 156 billion dong.
Other activities were not good. Trading securities and investment securities were profitable but only at 874 million dong and 487 million dong respectively. During the period, service activities lost 2.8 billion dong, the same period last year saw a loss of 2.1 billion dong. Foreign exchange trading lost one billion dong, the same period saw a profit of 1.6 billion dong.
Although profit from other activities skyrocketed to eight billion dong while it realised a loss of 465 million dong same period last year. Finally, profit declined by 68 percent to 23 billion dong, completing 8 percent of the year profit plan. In Q1/2019, VietABank also did not set a cost for risk provisioning, when it was 71.4 billion dong during the same period last year.
At Annual Shareholders Meeting 2019, VietABank expected total bank assets to reach 75.652 trillion dong by the end of this year, mobilising capital from economic organisations and residents to reach 49.364 trillion dong and profit before tax reached 281 billion dong.
