On 25th July 2019, in Ho Chi Minh City, Kien Long Commercial Joint Stock Bank (Kienlongbank) held Business Conference to review the first 06 months’ performance and deploy business plans for the last 6 months of 2019.
At the conference, the Bank discussed a number of policies to promote business activities in the last 6 months, namely solutions to attract customers for electronic banking, non-payment payment services, diversify products and services to increase service revenue, restructure credit portfolio to limit credit risks for high credit efficiency...
At the Conference, Ms. Tran Tuan Anh - Member of the Board of Directors, General Director of Kienlongbank said: “Generally in the first 6 months, Kienlongbank's business situation was stable, plans were implemented in hamornization and effectively; Kienlongbank achieved fairly high financial - credit targets. As of 30th June 2019, Kienlongbank's total assets reached VND 47,670 billion, up 21.45% of the same period, completing 95.34% of the plan; outstanding loans reached VND 31,037 billion, up 13.52% over the same period, completing 91.56% of the plan; total mobilized deposits reached VND 42,928 billion, up 23.07% over the same period, completing over 94.97% of the plan; NPL ratio was at 1.15%; profit before tax reached 148.48 billion VND, completed 48.52% of the plan; operational safety indicators are in compliance with the regulations of the State Bank of Vietnam”.
In the first 6 months, most of Kienlongbank's businesses had positive results, Kienlongbank's revenue mainly came from interest income and service fess. In addition, diversified deposit products and services are one of the advantages for Kienlongbank to attract abundant and stable fundings for safe and sustainable credit growth.
In 2019, Kienlongbank sets a target of total assets of VND 50,000 billion, consolidated profit before tax of VND 306 billion, bad debt ratio controlled at less than 2%, trying to settle 100% of special bonds of the debt sold to VAMC before 31st December 2019. So in 6 months, Kienlongbank has reached 48.52% of the profit plan. Following the important achieved results, the management and all staff, collaborators continue to strive to complete the 2019 business plan, aiming to become one of the leading modern retail banks in Vietnam.