SeABank to Triple Pre-tax Profit in 2007
Southeast Asia Bank, or SeABank will strive to realize the set target of pre-tax profit of VND411 billion (US$25.68 million) this year, three times higher than last year, Vietnam Economic Times reported Monday.
2006 was a successful year for the bank, which effectively applied advanced IT technology of Temenos T24 in services to serve its clients, a bank source said.
The software allows the bank to carry out 1,000 transactions a second, and help its 110,000 clients surf in and manage 50 million bank accounts, it said.
SeABank’s total assets reach VND10.2 trillion (US$637.5 million), double that in 2005.
Its outstanding loans hit VND3.36 trillion (US$210 million), up 1.5 times on year and the overdue debt rate accounts for just 0.2 per cent of outstanding loans.
Last year, the bank’s pre-tax profit was VND137 billion (US$8.5 million), triple that in 2005. (Vietnam Economic Times)
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