Kienlongbank sets strategic goals for 2021

Kienlongbank sets strategic goals for 2021
11:00 | 01/02/2021
Kienlongbank has put the settlement of non-performing loans and digital transformation as its top priorities in 2021
Tran Tuan Anh, member of the Board of Directors cum general director of Kienlongbank said that at the end of 2020, the total consolidated assets of the bank reached VND57.282 trillion($2.5 billion), up 12.09 per cent compared to 2019.
Consolidated pre-tax profit of the bank reached VND158.21 billion ($6.9 million), up 84.14 per cent on-year.
Accordingly, Kienlongbank in 2020 aimed to settle loans with collateral shares related to Sacombank’s shares, under the Kienlongbank restructuring and bad debt settlement plan.
However, Anh stated that the COVID-19 health crisis hampering the bank’s plans to handle Sacombank’s shares. As of December 31, 2020, Kienlongbank could only sell a part of its Sacombank’s shares, thus reducing VND369 billion ($16 million) of bad debts.

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