Techcombank Eyes Pretax Profit of VND1Tln in H1
Vietnam Technological and Commercial Joint Stock Bank (Techcombank) expects its pretax profit to rise to VND1 trillion in the first half.
In the first five months, the Hanoi-based unlisted bank made profit of VND789 billion after setting aside provisions for credit and stock prices.
Techcombank did not provide comparative figures, however.
Its total deposits from individual customers rose by VND9,178 billion to VND39 trillion by late May while those from institutions were up VND2,158 billion, it said.
As of May 31, Techcombank had total assets of VND72 trillion, up 20 per cent from late 2008, and total outstanding loans of VND32 trillion, including VND8,291 billion disbursed under the government’s subsidy program.
Techcombank, a 20 per cent stake owned by HSBC Holdings Plc., has aimed to raise total assets by 38 per cent to more than VND82 trillion with pretax profit of over VND2 trillion.
It also plans to issue new shares to boost registered capital by 56 per cent to VND5.68 trillion this year. (Vietnam Economic Times)
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