MB reports nearly 80b dong profit from securities investment in Jan-Apr
13-MAY-2008 Intellasia | Thoi Bao Kinh Te Vietnam
May 13, 2008 - 7:00:00 AM
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Military Commercial Joint Stock Bank (MB) recently announced that during the first four months of this year, it earned more nearly 80 billion dong in profit from shares investment and that was 228 billion dong in the whole year 2007.
According to MB, during first months of this year, while many commercial banks have to face many difficulties in terms of transparency, the bank's transparency risk was limited from that securities investment activities earlier.
Most of shares invested by MB were liquid assets which helped MB limit maximum transparency risk and brought nearly 80 billion dong in profit during such a difficult period, said MB's representative.
Last year, the bank's total securities investment portfolio was 2.767 trillion dong, of which investment stocks accounted for 2.476 trillion dong and business stocks was 291 billion dong.
MB's 2.476 trillion dong invested in securities sectors included G-bonds, State Bank of Vietnam-issued bonds, treasury bills and other financial institutions' bonds.
This is a safe investment form due to these stocks have no risk of price and not to be effected by stock market's tendency, according to MB.
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