Foreign Banks in Vietnam Make Pretax Profit of VND2.947T at end-Oct
Foreign-invested banks and credit institutions in Vietnam made a combined pre-tax profit of VND2.947 trillion ($159.5 million) at the end October and their total assets rose 14.9% from the end of 2008, the State Bank of Vietnam, the country’s central bank, said.
By the end of October, deposits at the foreign-invested banks jumped 17.8% while their outstanding loans were up 14.9% from end-2008, the central bank noted.
Non-performing loans of the banks remained at 0.9% of their outstanding loans, the central bank added.
Currently, five foreign joint venture banks, five 100%-foreign invested banks, 45 branches of 33 foreign-invested banks, 56 representative offices of foreign credit institutions and eight foreign non-credit institutions are operating in Vietnam. (Banking Times)
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