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Vietinbank posts YOY rise in Q2 net profit

Vietnam Joint Stock Commercial Bank for Industry & Trade, or Vietinbank, posted a year-over-year rise in second-quarter net profit to 1.873 trillion dong from 1.488 trillion dong.

The bank said July 28 that net interest income grew to 7.319 trillion dong from 5.886 trillion dong, while net fee and commission income dropped to 396.88 billion dong from 428.42 billion dong.

Operating profit rose to 5.048 trillion dong from 3.436 trillion dong.

The bank's allowance and provision expenses for credit losses increased to 2.779 trillion dong from 1.568 trillion dong.

For the first half, the bank's net profit rose to 3.904 trillion dong from 3.408 trillion dong.

As of July 28, US$1 was equivalent to 22,728.50 Vietnamese dong.