VietinBank posts nearly 5.8tr dong profit in 2011

01-Feb-2012 Intellasia | CTG | 3:09 PM Print This Post

Vietnam Commercial Joint Stock Bank of Industry and Trade (VietinBank-CTG) has announced its fiscal statement for the fourth quarter of 2011 with net interest income of over 5.224 trillion dong, rising 41 percent on year.

In the quarter, the bank suffered loss of 14.7 billion dong from forex trading and 71 billion dong loss from securities investment activities.
Its profit from other activities was nearly 293 billion dong, down 67 percent on year.

Its operational costs decreased 60 percent on year to touch over 830 billion dong.

However, the lender spent over 2.686 trillion dong on its credit risk standby fund, rising 39 percent from Q4 2010.

Thus, after spending on related costs, the lender’s after tax profit was 1.656 trillion dong, over three times higher than that in Q4 2010.

Accumulatively, for the whole year 2011, the bank’s after tax profit was 5.784 trillion dong, rising 78 percent on year (3.256 trillion dong).

As of December 31, 2011, CTG posted total assets of 460.387 trillion dong, up 25 percent from early 2011 and its chartered capital increased from 15.172 trillion dong to 20.229 trillion dong.

The total deposits from customers reached 256.447 trillion dong, up about 50.755 trillion dong from early 2011 and total outstanding loans reached over 288.912 trillion dong, up 25 percent from January 1, 2011 and bad debts ratio was 0.7 percent.


Category: Finance

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