Military Bank Targets 2007 Profit up 52 per cent to US$19.8Mn
Military Commercial Joint Stock Bank (MB) is expected to post net profit of 320 billion dong (US$19.8 million) in 2007, an increase of 52 per cent against last year, said the general director Le van Be.
The bank gained gross profit of VND260 billion (US$16 million) in the first five months this year, more than the VND253 billion gross profit gained in the last whole year, fulfilling 62 per cent of the annual plan.
Be said that his bank expects to boost its total assets up 59 per cent from 2006 to VND21.5 trillion (US$1.3 billion) by the end of this year.
MB last month got a license to issue 95.48 million new shares to raise its registered capital to VND2 trillion, in which 50.2 million shares will be sold to existing shareholders and 45.28 million shares to strategic foreign and domestic investors.
Ho Chi Minh Housing Commercial Joint Stock Bank (HDBank) said at the shareholder meeting that its total asset reached VND8 trillion as the end of May.
The bank’s profit pretax was reported to increase sharply by 64 per cent in the first five months.
HDBank targets this year’s outstanding loans to increase 70 per cent on-year to VND4.56 trillion, and deposits 91 per cent to VND6.2 trillion.
The lender plans to quadruple registered capital to VND2 trillion from VND500 billion in 2007. It has got permission from the central bank to boost its capital to VND1 trillion.
Meanwhile, the East Asian Joint Stock Commercial Bank (EAB) said it is working out plan to raise registered capital to VND1.6 trillion in the third quarter this year, after having boosted the capital to VND1.4 trillion from VND880 billion.
EAB last weekend open new branch in Ho Chi Minh City, bringing its total branches to 80 nationwide. (Foreign Media, Securities Investment Online)
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