VietinBank and several other companies listed on the stock exchange have recently received administrative penalties for tax violations. Among them, VietinBank is required to pay an additional 87.4 billion VND.

Vietnam Joint Stock Commercial Bank for Industry and Trade (CTG) has submitted an extraordinary information disclosure to the Securities Commission regarding the receipt of an administrative penalty decision for tax violations from the Large Enterprise Tax Department.

Accordingly, the total additional amount the bank must pay exceeds 87.4 billion VND. VietinBank stated it has completed its obligation to pay the tax to the state budget.

Regarding business performance, VietinBank recorded a net interest income of 31.317 trillion VND in the first half of this year, an increase of less than 3% compared to the same period last year.

Various business segments showed mixed performance, with net profit from service activities and foreign exchange trading both declining. Meanwhile, the trading securities and investment securities segments recorded a very strong increase in net profit.

In terms of expenses, the provision for credit risk decreased sharply, from over 15.865 trillion VND in the same period last year to 11.083 trillion VND this year.

After deducting expenses, VietinBank’s pre-tax profit for the first half of 2025 reached 18.920 trillion VND, a 46% increase compared to the same period.

Regarding loan quality, the financial report shows that VietinBank’s bad debt tended to increase significantly in the first half of this year.

Specifically, VietinBank’s total bad debt as of the end of June 2025 was 24.812 trillion VND, an increase of over 16% compared to the beginning of the year. Of this, non-performing loans amounted to 15.200 trillion VND, an increase of nearly 11%.

Prior to VietinBank, several other companies on the exchange also received administrative penalty decisions for tax violations.

For example, with One Technology Joint Stock Company, the Hanoi Tax Department stated that this company had declared purchase invoices from businesses no longer operating at the address registered with the tax authority, and had not allocated value-added tax at the period-end for revenue not subject to value-added tax.

Regarding corporate income tax, One Technology incorrectly determined deductible expenses, had invoices over 20 million VND settled in cash, made inventory provisions not in accordance with regulations, had enterprise management costs without sufficient supporting documentation, and did not increase other income for amounts not payable to sellers…

According to the penalty decision, the total additional tax, fine, and late payment amount for One Technology this time is over 2.26 billion VND.

Another listed company, Nam Kim Steel Joint Stock Company (NKG), also announced receiving a decision from the Tax Department related to administrative penalties for violations discovered during an inspection of tax law compliance.

Accordingly, Nam Kim Steel must pay a total of over 682 million VND in back taxes, fines, and late payment fees for the inspection periods of 2022, 2023, and 2024. This includes an administrative fine of over 190 million VND, back taxes of over 313 million VND, and late payment fees of over 178 million VND.

VietinBank

VietinBank, or the Vietnam Joint Stock Commercial Bank for Industry and Trade, is one of the largest state-owned commercial banks in Vietnam. It was originally established in 1988 as the Industrial and Commercial Bank of Vietnam, evolving from the earlier State Bank of Vietnam. Today, it is a major financial institution providing a wide range of banking services and playing a significant role in the country’s economic development.

Securities Commission

The Securities Commission is a statutory body in Malaysia established in 1993 to regulate and develop the country’s capital markets. It was created under the Securities Commission Act to promote a secure and efficient financial environment, protecting investors and ensuring orderly market practices. Its history is tied to the modernization of Malaysia’s financial system following rapid economic growth.

Large Enterprise Tax Department

The Large Enterprise Tax Department is a specialized administrative division within a national tax authority, responsible for the oversight and collection of taxes from the country’s largest corporate entities. It was established to improve compliance and efficiently manage the complex tax affairs of major corporations, which contribute a significant portion of the national tax revenue.

One Technology Joint Stock Company

One Technology Joint Stock Company is not a historical place or cultural site, but a contemporary Vietnamese technology business. It was established to operate in the information technology and telecommunications sectors, providing services and digital solutions. As a joint stock company, its history is one of commercial enterprise rather than cultural heritage.

Hanoi Tax Department

The Hanoi Tax Department is a government administrative body responsible for tax collection and management in Vietnam’s capital. It was established following the country’s economic reforms in the late 1980s, which transitioned Vietnam to a market-oriented economy and required a modernized tax system. The department operates from its headquarters to implement national tax policies and ensure compliance with tax laws.

Nam Kim Steel Joint Stock Company

Nam Kim Steel Joint Stock Company is a major Vietnamese steel manufacturer, established in 2002. It specializes in producing galvanized steel, steel pipes, and other construction materials, and has grown to become a significant contributor to Vietnam’s industrial and infrastructure development.

NKG

I am unable to provide a summary for “NKG” as it is not a recognized or commonly known place, cultural site, or acronym in historical or cultural contexts. Please verify the name or provide more details for an accurate response.