Gia Dinh Commercial Joint Stock Bank or GiaDinh Bank (GDB) last Friday reported that last year it gained total profit of 302 billion dong, a year-on-year growth of 32 percent. In which, the profit from credit operations accounted for 90 percent, from non-credit operations (services, stocks, foreign exchange business and other profits) made up remaining 10 percent.
Meanwhile, total cost of GDB was estimated at 230 billion dong, up 4 percent. In details, the cost for specifications took up 62 percent, cost for administration and business service 31 percent, standby cost 6.5 percent and other costs 0.5 percent.
As reported, the bank's pre-tax profit reached 72.04 billion dong and after-tax profit 54.6 billion dong.
GDB last year raised 2.190 trillion dong of deposits, down 3 percent against 2008 and its bad debt ratio till late 2009 was very high, 3.42 percent.
On March 6, the bank also passed to share 2009 profit to the shareholders with the cash dividend of 4.7 percent announced to raise charter capital from one trillion dong to three trillion dong and reach pre-tax profit of 200 billion dong in 2010.
This year the bank will use 300 billion dong to invest in fixed assets, 1.7 trillion dong to supplement to the medium and long term capital business (700 billion dong for securities investment and one trillion dong for lending). Accordingly GDB will offer one trillion dong of shares for the first capital increase phase in August 2010 and another one trillion dong for the second phase in this November.
In 2010, the bank's total assets are targeted at 8.5 trillion dong (up 155 percent y-o-y), total deposits of 5.2 trillion dong (137 percent), total outstanding loans 5.5tr dong (134 percent), bad debt ratio at below 3 percent, pre-tax profit of 200 billion dong (178 percent), and a dividend of 8 percent.
|
