In the second quarter of 2024 alone, the Bank's core business grew strongly. Thanks to a sharp reduction in deposit interest expenses, PVcomBank earned nearly VND 763 billion in net interest income, 4.9 times higher than the same period last year.

At the same time, the Bank also increased non-interest income sources. Net profit from services reached nearly VND66 billion, up 2% over the same period thanks to reduced costs for payment, trust and agency services.

The bank restructured its profitable assets and restructured its investment portfolio of both stocks and bonds, so net income from securities trading increased sharply by 69%, earning nearly VND98 billion.

Notably, thanks to the increase in recovered debts, other income increased 4 times over the same period, with more than 92 billion VND.

As a result, PVcomBank's net profit from business activities reached more than VND554 billion, thanks to strengthening core business activities and reducing operating costs.

Although business activities grew strongly in the second quarter, the economy still had unpredictable fluctuations, so PVcomBank proactively increased its reserve buffer, setting aside more than VND 794 billion for credit risk provisions, thus affecting profits in the quarter. However, increasing the reserve source will help the Bank be more proactive in handling risks, ensuring operations in the coming time.

In addition to the positive results in the first quarter, PVcomBank's pre-tax profit in the first 6 months of 2024 was nearly 70 billion VND, an increase of more than 58% over the same period last year. Thanks to that, PVcomBank has achieved more than 64% of its profit target after only 2 quarters.

In recent times, although the economy's capital absorption capacity is still weak, PVcomBank has still strengthened solutions to help customers and businesses access capital sources, promoting capital growth in the economy. As of June 30, 2024, PVcomBank's credit increased by nearly 6% compared to the beginning of the year, recording VND 104,836 billion.

Thanks to enhanced debt handling and collection measures, PVcomBank's loan quality at the end of the second quarter improved significantly compared to the beginning of the year, recording a sharp decline in group 4 and group 5 debt.

Due to proactively balancing capital sources to optimize costs, PVcomBank's market 1 mobilization slightly decreased to VND 175,583 billion.