Eximbank’s second quarter increase in provision and profit fell 77%

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According to the Consolidated Financial Statements for Quarter II / 2020, Eximbank (HoSE: EIB) recorded a 9% decrease in net interest income to VND 759 billion. Service income increased by 12% to 88 billion.

Trading of investment securities decreased by 43% to VND 12 billion while profit from forex trading increased by 26% to VND 166 billion.

Although operating expenses decreased by 2.3%, provisioning was more than VND 255 billion in the second quarter (reversed VND 36 billion in the same period last year), causing Eximbank’s pre-tax profit to decrease by 77% to only VND 94 billion. . In the first 6 months, this number is 552 billion dong, down by nearly 28% YoY.

By the end of June, total assets were 12% lower than the beginning of the year, at VND 147,315 billion. Outstanding loans to customers decreased by 8.6% to VND 103,529 billion. Non-performing loans increased by 11% to VND 2,157 billion, increasing the ratio from 1.71% to 2.08%. Customer deposits decreased by 10.6% to VND 124,566 billion.

Recently, Eximbank announced its third annual shareholder meeting 2020, scheduled for 9pm on August 17, at the International Conference Center, 35 Hung Vuong, Dien Bien Ward, Ba Dinh District, Hanoi. 2 times before, the bank’s annual meeting scheduled to be held in Ho Chi Minh City was unsuccessful.

Source: ndh.vn