Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank-STB) has announced its business results for the first quarter of 2012 with net interest income of 1.466 trillion dong, rising 29 percent on year.
Its profit from services decreased 44 percent on year to 192 billion dong.
However, the lender gained profit of 45 billion dong and 76 billion dong from forex trading and securities trading activities after suffering losses in the first quarter of last year.
Its profit from other activities rose 71 percent to 23 billion dong and its income from capital contribution and stake purchase decreased 58 percent on year to 22.7 billion dong.
The lender’s operation costs surged sharply from 575 billion dong in last Q1 to 783 billion dong in Q1/2012, or 36 percent on year.
It’s spending on credit risk provision fund decreased 78 percent to 42 billion dong.
After spending on costs and taxes, Sacombank’s after tax profit reached 756.5 billion dong, rising 67 percent on year.