At the meeting, Senior Colonel Luu Trung Thai, Deputy Chairman of the Board of Directors and General Director of MB, revealed that at the end of June, the total consolidated assets of MB (including MB and its subsidiaries) reached more than 524 trillion VND, up by 5.9% compared to the beginning of the year, consolidated revenue reached more than 22,9 trillion dong, representing a 44 percent year-on-year increase; and the bank's consolidated pre-tax profit reached nearly VND 8 trillion, up by 56% in comparison to the same period last year.
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By the end of 2021, the bank’s consolidated revenue is expected to reach VND 45 trillion |
The bank also posted a record low bad debt ratio of 0.76 percent in the first half of the year. This is the lowest level in the banking industry. MB also donated over 100 billion VND to the government’s COVID-19 prevention and control efforts.
MB has many outstanding products and services relating to digital transformation that contributed to its high growth in the period, including MB SmartBank and opening a bank account on MB app through electronic know-your-customer (eKYC).
Also, it is one of the 14 pioneer banks to officially deploy the feature of self-generating and paying by QR codes; deploying the Napas247 quick money transfer service using QR codes on MBBank App, which gives customers a completely new experience in comparison to using traditional methods of transferring money.
The bank has also enjoyed a top business performance in the period with a return on asset (ROA) ratio of 2.48 percent and a return on equity (ROE) ratio of 23.28 percent.
The bank's governance indicators also maintained good levels like a cost-to-income ratio (CIR) of about 28.6 per cent, a non-interest income ratio of more than 30 per cent, and the average pre-tax profit per capita was 1.6 times higher than the same period last year.
By the end of 2021, the bank’s consolidated revenue is expected to reach VND 45 trillion, and consolidated pre-tax profit will reach 15 trillion VND. In addition, MB will also complete the group’s development strategy for 2022-2026, continue to implement 22 digital transformation projects, increase business efficiency on digital channels, actively invest in IT infrastructure, and focus on digital transformation and strengthening the capacity of the corporation's information technology infrastructure system.
Sen. Lt. Gen. Le Huu Duc, Chairman of MB’s Board of Directors, said that amid the pandemic’s complicated developments, the bank has overcome difficulties to have positive business results. He affirmed that he hopes the group will bring into play their achievements and strive to become a digital business in the time to come.
Translated by Trung Thanh