BaoViet Holdings has explained the separate financial statements in Quarter 2/2019 as follows:
Unit: VND million
Item
In the period
Accumulation
Quarter 2/2019
Quarter 2/2018
Fluctuation rate (%)
06 months of 2019
06 months of 2018
% plan
Profit after tax on the parent company’s financial statements
272,354
260,148
4.69%
544,760
528,361
3.10%
50.4%
Profit after tax on the consolidated financial statements
256,476
335,366
-23.52%
669,526
840,254
-20.32%
54.6%
Until the end of the first six months of 2019, BaoViet Holdings achieved effective business results, especially in the insurance field. Its revenue raised on both life insurance and non-life insurance.
Besides, the stock market of Vietnam in the first six months of 2019 had many positive developments. Therefore, BaoViet Holdings could reverse the provision funds and saved the administrative expense. The profit of the parent company was higher than in the same period of last year and the Company completed its business targets for the first six months of 2019.