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Kien Long News

Kienlongbank's before-tax profit in the third quarter hits VND 191.56 billion

With ceaseless effort in product and service diversification, improvement of quality and performance efficiency, Kienlongbank's growth indicators experienced positive developments in 9 first months of 2017 compared to that of 2016.

Kienlongbank's newly released consolidated financial statements unveiled that, at the end of third quarter of 2017, almost all of its performance indicators were recorded with stable increase, fulfilling and going beyond planned target, concretely: Total asset reached VND 34.407 billion, fulfilling 94.27% plan, increasing 12.99% compared to that of 2016; capital mobilization reached VND 30.327 billion, fulfilling 93.31% plan, increasing 15.01% compared to that of 2016; outstanding facility balance reached VND 23.591 billion, fulfilling 95.51% plan, increasing 19.35% compared to that of 2016. Consolidated pre-tax profit obtained VND 191.56 billion, fulfilling 76.63% plan of 2017. Among such figures, bad debt ratio was successfully controlled at 0.86%, performance safety indicators are complied with the State Bank of Vietnam’s regulations; a series of preferential products, services and promotion programs are constantly launched by Kienlongbank; trading network and employee living are ceaselessly improved.

Mr. Vo Van Chau - Member of Board of Directors, Chief Executive Officer of Kienlongbank unveiled “That KLB shares of Kienlongbank listed in UPCoM attracted investors, improved the transparency of the bank’s performance and facilitated shareholders’ share trading. Thanks to 02 (two) promotion programs, Kienlongbank is facilitated to obtain more mobilization channels  in the market, develop customer base, timely satisfying business plan, recording an ocean of breakthrough success in 22nd Anniversary of the bank’s establishment (October 27th, 1995 - October 27th, 2017)

With positive results achieved in the 9 first months of the year and to continue fulfilling the operation objectives, i.e., “Secure and stable operation with proper profit” in the last 3 months of 2017, Kienlongbank Management and employees make great effort and determination to go beyond the set business targets and plans approved by the 2017 Annual General Meeting of Shareholders.