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Banking & Finance

Bao Viet Holdings releases first half results

Released at: 20:57, 15/08/2015

Bao Viet Holdings releases first half results

Group on track to reach 2015 targets.

by Minh Tuyet

Bao Viet Holdings (BVH) earned revenue of VND9.7 trillion ($422.4 million) in the first half of year, a 7 per cent increase year-on-year, with after-tax profit of VND731 billion ($33.07 million), a 13 per cent rise compared with the same period last year.

It has targeted revenue of VND18.9 trillion ($855.67 million) for the year as a whole and after-tax profit of VND1.14 trillion ($51.58 million). Its first half results therefore represent 52 and 64 per cent of the targets.

Among its subsidiaries, BaoViet Life Corporation earned the most revenue, increasing 25 per cent year-on-year. BaoViet Insurance Corporation’s revenue and profit increased 5 and 31 per cent, respectively. Business seeing stable growth included fire insurance, special risk insurance, healthcare insurance, and motor car insurance.

The BaoViet Securities Joint Stock Company (BVSC) earned revenue of VND146 billion ($6.6 billion), a 5 per cent increase year-on-year.

The BaoViet Fund Management Company, meanwhile, recorded profit of VND9 billion ($407,250), or 60 per cent of the annual target.

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