Techcombank Posts Jan-Jul Pretax Profit at VND1,221B
Vietnam Technological and Commercial Joint Stock Bank (Techcombank) made a pretax profit of VND1,221 billion (US$68.549 million) in the first seven months this year, according to the bank’s general director Nguyen Duc Vinh.
The Hanoi-based bank earned a pretax profit of around VND190 billion in July, Vinh said, giving no comparison of the same period last year.
As of July 31, Techcombank had raised total deposits of VND59 trillion while it lent a total of VND32 trillion, including VND20 trillion for subsidized loans.
Vinh, however, said the bank has found it hard to fulfill its earlier-set target to make pretax profit of VND2,200 billion this year, attributing the situation to current shrinking economic context.
Techcombank raised its registered capital to VND4.4 trillion from VND3.6 trillion by issuing additional shares to existing shareholders in June. (Investment)
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