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Agribank reported a profit of nearly 13,000 billion

Credit growth is limited due to the lack of capital increase, Agribank’s profit decreased by nearly 9% compared to the previous year, reaching VND 12,869 billion. Total assets reached nearly 1.57 million billion, capital resources reached over 1.45 million billion, bad debt ratio 1.89% by the end of 2021.

At the five-year summary meeting on January 12, the leader of the Vietnam Bank for Agriculture and Rural Development (Agribank) told VnExpress, although the National Assembly approved a plan to increase the maximum capital of VND 3,500 billion for Agribank from the source. profit after tax, so far the funding has not been implemented due to the procedure problems.

The charter capital has not been increased to improve the capital adequacy ratio, so Agribank’s credit growth in 2020 is still limited. By the end of 2020, Agribank’s outstanding credit growth is about 8% compared to the beginning of the year.

Limited credit growth coupled with a reduction of about 5,500 billion profit to reduce interest rates for customers because of Covid-19, Agribank’s consolidated interest rate in 2020 decreased by nearly ten percent from the previous year, reaching 12,869 billion dong, ranking after two “Big 4” Vietcombank and VietinBank.

Agribank reported a profit of nearly 13,000 billion

By the end of December 31, 2020, the bank’s total assets reached nearly 1.57 million dong, capital resources reached 1.45 million dong, and bad debt ratio was 1.89 percent.

Thus, Agribank is one of the three banks with state capital having no growth in business results in 2020. The leader of this bank said that during the year, it also increased the provision for credit risks, bringing the rate to NPL coverage by the end of 2020 at 130%.

In 2021, this bank sets a target of 8% to 11% loan growth, service revenue increases from 6% to 8%, post-processing debt collection is at least VND 9,000 billion, pre-tax interest will increase at least 10%. .

Source: – Translated by

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