HBBS to Turn into Joint Stock Company

Habubank's general shareholder meeting in March consented to restructuring Habubank Securities Co. Ltd (HBBS) into Habubank Securities Joint Stock Company. As of March 31, 2007, over 5,000 deposit accounts had been activated at Habubank Securities. HBBS reported profit of VND 18.4 billion (US$1.15 million) from April 7, 2006 to December 31, 2006, exceeding its expected plan by 381 per cent.

 

In 2007, Habubank Securities targets VND41 billion profit. In the first quarter this year, the company made VND21.1 billion profit, becoming one of the three leading securities firms in Vietnam.