Habubank Records US$14.8Mln Profit

Habubank said it earned pre-tax profit of VND236.6 billion (US$14.8 million) in the first six months this year, fulfilling 54 per cent of this year’s profit target and reaching 95.4 per cent of 2006 profit. Habubank’s total asset value reached of VND18,399 billion (US$1.15 billion), up 57.4 per cent from late 2006. The bank had total deposits of VND7,424 billion, up 23 per cent over earlier this year, and the bad debt rate was maintained at less than 2 per cent to ensure the bank’s operation.

 

Habubank plans to increase registered capital to at least VND2,000 billion ($125 million) by the end of this year, with shareholders’ total capital VND4,500 billion.