ACB's Pretax Profit Hits US$62.5Mln in Jan-Jul
Hanoi bourse-listed Asia Commercial Joint Stock Bank (ACB) said that its pretax profit in the first seven months of this year hit VND1 trillion, or US$62.5 million, a state media reported.
The bank has accomplished two third of the target set for the full year of VND1.5 trillion.
ACB also reported good performance with its total deposits reaching VND56.35 trillion (US$3.5 billion), outstanding loans VND23.54 trillion (US$1.47 billion), and total assets VND62.5 trillion (US$3.9 billion) as the end of July.
These figures were reported at VND50.7 billion, VND22.1 trillion and VND58.4 trillion, respectively, just one month ago.
ACB has also quickly expanded the network in the period with 89 branches and offices with more than 3,500 employees working now.
The Ho Chi Minh City-based bank has scaled up its registered capital from VND1.1 trillion to VND2.53 trillion (US$158 million), making it Vietnam’s largest joint stock lender, followed by Saigon Thuong Tin Commercial Bank (Sacombank) with VND2.34 trillion.
ACB’s seven-month earnings far outstripped the figure of the last whole year. The bank made a pretax profit of VND658.8 billion in 2006, up 71.1 per cent from 2005. (Vietnam Economic Times)
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