Banks in Vietnam report hefty Q1 profits

The first quarter of this year saw many commercial banks in Vietnam produce positive business results, with their profits reaching trillions of Vietnamese dong, despite global economic volatility. The bank’s profit target of VND22 trillion ($939.4 million) this year is attainable although it has met merely one-fifth of the target, Vinh noted. The bank has reached 35 percent of its full-year profit target of VND10.3-10.6 trillion ($439.8-452.6 million). The first quarter of this year saw many commercial banks in Vietnam produce positive business results, with their profits reaching trillions of Vietnamese dong, despite global economic volatility. The bank’s profit target of VND22 trillion ($939.4 million) this year is attainable although it has met merely one-fifth of the target, Vinh noted.