Vietinbank's after-tax profits reached VND4.28 trillion (US$203.81 million) in the first nine months of this year, down 19.4 per cent year-on-year. According to its financial reports released on November 14, the after-tax profits fell by 43 per cent year-on-year, reaching VND1.25 trillion ($59.52 million), in the third quarter alone.
In the first nine months of this year, the total net revenue attained was VND13.23 trillion ($630 million), a year-on-year decline of 5.1 per cent. Revenues from services dropped by 2.1 per cent year-on-year to stand at VND1.07 trillion ($50.95 million).
Foreign currency trading generated a turnover of VND309 billion ($14.71 million), up 72.6 per cent year-on-year, but securities investments brought a loss of VND133 billion ($6.33 million).
Operational costs increased sharply year-on-year by 29.4 per cent in the third quarter and 10.8 per cent in the first nine months.
On September 30, the bank had a total outstanding loan of nearly VND399 trillion ($19 billion), up six per cent over the end of last year. It attracted deposits worth nearly VND398 trillion ($18.95 billion), an increase of 9.2 per cent.
The bank's bad debts represented 1.75 per cent of the outstanding loan at the end of September, up from *** per cent at the beginning of this year.