BIC’s consolidated profit grew by 39pct in 2020

22-Jan-2021 Intellasia | Dau tu Chung khoan | 6:02 AM Print This Post

According to BIDV Insurance Company (BIC), by the end of 2020, the company successfully completed all the planned targets.

Specifically, the total premium revenue of the BIC parent company was 2.529 trillion dong, up by 13.8 percent compared to 2019, completing 104.3 percent of the year plan. In particular, the revenue of original premium was 2.363 trillion dong, up by 17.4 percent year-on-year.

BIC’s consolidated pre-tax profit for the whole system reached 375.6 billion dong, 39 percent higher than 2019′s result, completing 156 percent of the year plan. The pre-tax profit of the parent company along was 363.5 trillion dong, up by 38.8%, completing 158 percent of the assigned plan.

In 2020, BIC continued to record high profit in insurance business. The combined cost rate was at the best level in 15 years of operations.

In 2020, BIC’s retail activities also achieved very impressive results. In particular, the bancassurance channel developed by nearly 70%, the highest growth rate ever.

 

Category: Finance, Vietnam

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