KienlongBank explains unresolved VND343 billion receivable flagged by auditors

KienlongBank is reviewing a VND343.386 billion receivable after auditors said they lacked enough appropriate evidence to assess the outcome of its reconciliation or determine whether the bank needed to make provisions.

The receivable appeared in the bank’s reviewed six-month financial statements as a matter underlying the auditors’ qualified conclusion. KienlongBank said the amount related to transactions awaiting settlement and was identified during reconciliation with related parties in June 2026.

After discovering the issue, the bank said it had strengthened controls over transactions and started a detailed reconciliation with the relevant parties. It is continuing to coordinate with those organizations to review the matter and collect complete files, documents and supporting records.

KienlongBank expects to propose appropriate measures in September 2026, based on the documents and evidence it gathers. The qualification does not reject the bank’s entire financial statement, but concerns the specific receivable that auditors could not yet evaluate.

The bank said its first-half pretax profit remained unchanged from its previously prepared figures, at VND1.176 trillion. That represented a 27.6% increase from the same period in 2025 and about 45% of its full-year target of VND2.6 trillion. By the end of June, total assets reached nearly VND115 trillion, customer loans stood at VND77.617 trillion, and total deposits and other mobilized funds reached VND102.592 trillion.