Ocean Bank Eyes Ambitious Target in 2007
The Dai Duong Joint Stock Commercial Bank, or Ocean Bank, is making great efforts to strengthen its position in the financial market.
The bank plans to raise chartered capital to VND1 trillion (US$62.5 million), from VDN200 billion (US$12.5 million), by the end of this year.
Besides expanding equity, the bank will also widen its network. It plans to establish more branches in Hanoi, Ho Chi Minh, Danang and Vung Tau cities.
On April 10 alone, Ocean Bank opened nine transaction offices in Hanoi.
It aims to become the top retail bank in Vietnam.
In 2006, the bank owned total assets of about VND1 trillion. Its outstanding loans were VND663 billion and pretax profit was VND13 billion last year.
This year, Ocean Bank eyes total assets of VND4 trillion (US$250 million), outstanding loans of VND2.2 trillion (US$137.5 million), deposits of VND850 billion and pretax profit of VND65 billion. (Ocean Bank Website, VNA)
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