General Director of Vietcombank, Nguyen Phuoc Thanh reported that his bank gained over 2.450 trillion dong in H1 pre-tax profit, fulfilling 75 percent of the whole year's target of 3.320 trillion dong.
Giving explanation on the small gap between pre-tax profit of H1 and the previously announced Jan-May figure of 2.489 trillion dong, he said the above profit excluded the deduction of 400 billion dong for the risk prevention fund.
In the bank's profit structure, the lending profit accounted for up to 70 percent. Its bad debt ratio stands at 4.1 percent, higher then 2009's target of below 3.5 percent.
According to Nguyen Hoa Binh, chair of VCB, total assets of Vietcombank up to the end of June reached 222 trillion dong, total deposits of 187 trillion dong and total outstanding loans of 129 trillion dong.
Short term outstanding loans in total figure tended to rise slightly from 60 percent to 67 percent against last year end, in which the short term soft loans were 42 trillion dong.
Replying on the on Vietcombank's Capital Adequacy Ration (CAR) that was posted at 8.9 percent in 2008, lower than 2007's 11.2 percent, Binh stated CAR of VCB now strands at 9 percent, higher than the State Bank of Vietnam's minimum level of 8 percent.
In April, the bank passed the plan of hiking its chartered capital to 13.223 trillion dong by issuing 9.28 percent of ordinary shares worth 1.122 trillion dong to the existing shareholders.
This year, the bank targets to increase total assets by 11 percent to 246.365 trillion dong, total deposits by 15 percent to 183.987 trillion dong, total outstanding loans by 18 percent to 133.096 trillion dong and curb bad debt ratio of less than 3.5 percent. Also its pre-tax profit is expected to 3.320 trillion dong with an estimated dividend of 12 percent.
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