Navibank’s credit growth at 2.45pct after first six months

13-Aug-2012 Intellasia | HNX | 1:51 PM

Nam Viet Commercial Joint Stock Bank (Navibank-coded NVB) has recently announced its consolidated fiscal statement in the second quarter of this year with net interest income at 178 billion dong, equalling to the same period last year.

The bank incurred a loss of five billion dong from Forex trading activities in Q2/2012 after a loss of 26 billion dong last year.

Its profit from other activities decreased 77 percent on year to 3.9 billion dong. Navibank had an income from capital contribution and stake purchase with 13.1 billion dong while in the same period last year, it did not have this income.

Due to high operating costs, its profit decreased. The bank’s after tax profit was 44 billion dong, down 13 percent on year.

Cumulatively, in Jan-Jun, its net interest income increased 24 percent to 383 billion dong but after tax profit decreased slightly to 91.5 billion dong.

The lender’s credit growth in the first half of this year reached 2.45 percent and its bad debt ratio as of June 30, 2012 was 3.14%.