BIC earns profit of over 60b dong in first 8 months of 2011

06-Sep-2011 Intellasia | BIC | 6:49 PM

Bank for Investment and Development of Vietnam (Bidv)’s Insurance Co (BIC) has recently announced its performance in the first eight months of this year whereby the insurer’s revenue in Jan-August reached 644.82 billion dong, up 22 percent from the same period last year, fulfilling 60 percent of the year’s target.

Under which, its revenue from insurance business activities reached 477 billion dong, a year-on-year rise of 32 percent and revenue from financial activities gained 166.7 billion dong.

BIC’s total profit before tax reached 60.1 billion dong in the first eight months of this year, up 92 percent y-o-y and achieving 60 percent of the year’s plan. Of which, its profit from finance investments posted a year-on-year increase of 133 percent.

As of August 31, BIC posted its equity at 723.6 billion dong and the return on equity (ROE) at 6.43 percent.

BIC is to officially list and trade 66 million shares on Hochiminh Stock Exchange (STC) with the share code of BIC.