Eximbank Posts VND1.144T Net Profit in 2009, Up 60.9%
Vietnam Export and Import Commercial JS Bank (EIB), or Eximbank, has announced that it netted a profit of VND1.144 trillion last year, up 60.9% against that of the previous year.
Eximbank earned VND162 billion between October and December, compared to a loss of VND152.8 billion it made in the same period of 2008, the Ho Chi Minh City-based bank said in a statement.
Earnings from lending activities rose 49.7% on-year to VND1.975 trillion by end-2009 while those from other services were up 93.6% to VND211.2 billion, it said.
The Hochiminh Stock Exchange-listed lender, however, suffered a huge loss of VND39 billion from stock trading last year, up VND35.7 billion from a year earlier. Its profit from foreign exchange trading also fell 4.7 times to VND134.6 billion.
Eximbank, which has a 15% stake owned by Japan’s Sumitomo Mitsui Financial Group, had total assets of VND66.03 trillion as of December 31, up 36.8% from end-2008.
The bank raised VND38.766 trillion in total deposits and lent VND38.381 trillion by that time, up 25.5% and 80.7%, respectively.
All the figures are unaudited.
Eximbank currently owns an 18.9% stake in Rong Viet Securities Co. and another 11% stake in the real estate firm Eximland.
EIB shares stayed flat at VND23,000 on 1.593 million shares traded today [January 25]. (eximbank.com.vn)
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