Business

Vietcombank’s pre-tax profit rises 20 percent in six months

The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) posted more than 5.05 trillion VND (222 million USD) in pre-tax profit in the last six months, up 20.5 percent year on year and equivalent to 53.2 percent of the target for 2017.
Vietcombank’s pre-tax profit rises 20 percent in six months ảnh 1A transaction office of Vietcombank (Photo: Vietcombank)

Lam Dong (VNA) – The Joint Stock Commercial Bank forForeign Trade of Vietnam (Vietcombank) posted more than 5.05 trillion VND (222million USD) in pre-tax profit in the last six months, up 20.5 percent year onyear and equivalent to 53.2 percent of the target for 2017.

The information was released by VietcombankGeneral Director Pham Quang Dung at a meeting to review the bank’s performancein Lam Dong province on July 7-8.

He said Vietcombank recorded positive outcomesin all activities, from capital mobilisation, credit growth and credit qualityto services provision.

[Vietcombank set to up capital to 1.74 billion USD]

While the price of its shares topped the bankingsector, the bank remained among the top three businesses in terms of marketcapitalisation. Its prestige was also affirmed by assessments from clients andinternational organisations, he added.

At the meeting, Chairman of Vietcombank’s boardof directors Nghiem Xuan Thanh made proposals to the State Bank of Vietnamregarding the increase of Vietcombank’s charter capital, the development of thebank’s network, including the opening of a subsidiary in Laos and expanding itscredit growth limit.

The central bank’s Deputy Governor Nguyen DongTien said he hopes Vietcombank’s achievements at the end of 2017 will be the bestresults across the banking system.-VNA
VNA
#Joint Stock Commercial Bank for Foreign Trade of Vietnam #Vietcombank #pre-tax profit #banking sector #credit growth #market capitalisation #Vietnam #Vietnamese #Vietnam news #updated Vietnam news #Vietnamplus #Vietnam News Agency
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