Sacombank assets dip 2.6% in April
09-MAY-2008 Intellasia | Reuters
May 9, 2008 - 7:00:00 AM
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Sacombank STB.HM, Vietnam's sixth-largest lender, said on Wednesday it had total assets of 73.25 trillion dong (US$4.58 billion) at end-April, down 2.6% from a month earlier.
The HCM City-based bank said January-April gross profit jumped 40% to 536 billion dong (US$33.5 million).
In a statement, the bank said "the unpredictable trend of the global economy" in the January-April period had been difficult, but "Sacombank maintained the positive result thanks to its accurate economic forecast and appropriate business plan."
Sacombank shares closed down 1.9% at 31,700 dong on Wednesday.
The World Bank's International Finance Corp, Dragon Capital and ANZ Bank together own 30% of Sacombank, the ceiling for foreign ownership of listed banks in Vietnam.
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