4:18:28 PM | 12/6/2007
Technological and Commercial Joint Stock Bank, or Techcombank gained pre-tax profit of VND262.7 billion (US$16.4 million) in the first five months of this year, local Dau Tu (Investment) newspaper said Monday.
In May this year the bank obtained VND74 billion (US$4.6 million) in pre-tax profit.
Techcombank- the second largest joint stock commercial bank- is expected to post pre-tax of VND500 billion (US$31.25 million) this year, a bank senior official said.
Techcombank’s total assets were estimated to have reached VND25 trillion (US$1.56 billion) during the period, 1.5 times higher than that in early 2007 and rising 44 per cent compared with end-December.
The bank opened more new transaction offices, bringing the total number to 90 from 80 in late March.
Techcombank also debuted e-payment services in May.
By the end of May, the bank, in which HSBC Holdings PLC has a 10 per cent stake, reported total deposits of VND22.575 trillion, up 51 per cent from the end of last year, and outstanding loans of VND12.15 trillion, up 37 per cent. (Investment)
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