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Tuesday, June 18, 2024

Eximbank eyes VND5 trillion in pre-tax profit this year

The Saigon Times

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HCMC – Vietnam Commercial Joint Stock Export Import Bank, whose EIB shares are traded on the Hochiminh Stock Exchange (HOSE), looks to a surge in total asset value and profit before tax this year.

According to its 2023 business plan, the bank aims to increase its asset value by 13.5% over 2022 to VND210 trillion, cash deposits by 11% to VND165 trillion, outstanding debt by 12.3% to VND146.6 trillion, and pretax-profit by 34.5% to VND5 trillion.

Last year, it sharply cut down on its bond portfolio and prioritized making loans for consumers and businesses, which helped the bank perform better than its 2022 targets.

By the end of 2022, the bank posted over VND185 trillion in asset value, up 11.6% over 2021, and VND148.6 trillion in cash deposits. Its before-tax profit doubled over 2021 and surpassed the full-year target by 48%, at VND3.7 trillion.

Closing the session today, March 20, EIB slid 4.09% against last Friday to VND18,750, extending its losing streak for the second session.

A host of bank and financial service stocks suffered steep drops, dragging the stock market into the red.

On the southern bourse, the VN-Index lost 22.04 points, or 2.11%, against the previous session, at 1,023.1, with decliners outnumbering advancers by 369 to 48.

There were over 567.3 million shares worth VND9.7 trillion traded on the HOSE, with around 91 million shares worth more than VND1.7 trillion transacted in block deals.

Steel stock HPG took the lead by liquidity today, with nearly 23 million shares changing hands.

The HNX-Index of the Hanoi Stock Exchange closed down 2.85 points, or 1.39% lower than the session earlier, at 201.62.

The northern bourse saw 51 winners and 127 losers, with over 54.5 million shares valued at VND800 billion changing hands.

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