Lienvietpostbank targets 1.5tr dong profit in 2012

16-Apr-2012 Intellasia | Tri Thuc Tre | 9:08 AM Print This Post

In 2012, Lien Viet Post Commercial Joint Stock Bank (LienVietPostBank) targets to increase at least 500 transaction offices, lifting the total figure to 1,300 sites, the bank highlighted this in its document for the coming annual general meeting (AGM) that is scheduled on April 23 in Hanoi.

Accordingly, in 2012, the bank plans to pay 13-15 percent dividend in common shares to the shareholders.

The bank also targets pre tax profit of 1.325-1.5 trillion dong this year, jumping 26.3 percent on year.

In 2012, the bank plans to continue raising its charter capital to 8.3 trillion dong and targets its total assets of 80 trillion dong.

LienVietPostBank plans to expand its network to 40 provinces and cities throughout the country. Currently, the lender has 21 branches.

The bank will also strive to control overdue debts ratio at less than 3 percent and bad debts ratio at below 2 percent of the total loans.

Last year, the unlisted lender generated a pre-tax profit of 1.1 trillion dong, up 45 percent from a year earlier. By the end of 2011, the bank had total assets of 57.034 trillion dong, up 60 percent from 2010.


Category: FinanceAsia

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