Viet A Bank garners high profits in first two-months

The Viet A Commercial Bank in the first two-months of this year amassed 38.9 billion dong in pre-tax profits, half the figure of last year’s total, says an executive from the bank.

Do Hoang Thieu, deputy director of the bank, said yesterday that business in the first months of this year developed stably. Although the stock market was pooling capital from the public, Viet A in the first two-months mobilised 212 billion dong, the majority of it from the savings of retired people who did not care much about the stock market.

Thieu also unveiled that the bank would double its chartered capital to one trillion dong, and might scale up to 1.25 trillion dong if it finishes negotiations to sell shares to foreign investor by the end of the year.

The bank yesterday officially launched its debit cards named the VAB card. The card will be linked with Vietcombank’s ATM system composed of 13 banks such as Techcombank, Military Bank, Southern bank, and Orient Commercial Bank with over 1,000 ATM machines nationwide.

Viet A on March 15 also presented prizes to winners of its lucky draw with total prize money of dong 480 million including a VAB card worth 200 million dong as a special prize.

 

Category: Finance