VIETNAM, May 24 – HÀ NỘI — Many banks have cut their costs to income ratio (CIR) thanks to digital transformation to optimise operations, which greatly contributed to their positive business results in the first quarter of 2023 despite the challenging market context. The financial report for the first quarter of 2023 of VietinBank showed the bank’s positive business results were greatly contributed to by the good control of expenses. The bank’s CIR was cut to 25.3 per cent from 27.2 per cent in the same period last year. Thanks to the cost reduction, the bank’s net profit from business activities reached more than VNĐ12.7 trillion, up 24 per cent over the same period of 2022. At VIB, the CIR ratio dropped sharply from 35.3 per cent to 31.8 per cent in Q1 2023. The good cost control helped VIB’s net operating profit reach VNĐ3.36 trillion in Q1 2023, up 25.6 per cent over the same period last year. ACB is also one of the banks that reduced significantly the CIR ratio in the first quarter of this year from 40 per cent to 31.6 per cent. The bank’s operating expenses also fell 8 per cent year-on-year to VNĐ2.5 […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
