TrustBank Posts VND302 Billion Profit in 2010

Dai Tin Commercial Joint Stock Bank (Trustbank) has recently released business results in 2010 and plans for 2011.

 

Accordingly, as of December 2010, TrustBank’s registered capital reached VND3,000 billion, total assets valued over VND20,000 billion, up 132 % over the start of the year, profit before tax was VND302 billion, up 4 times against 2009, and business network 103 points nationwide.

 

Trustbank said in 2010 and early 2011 it set up TrustLand Real Estate Company, Debt and Asset Management Company (TrustAsset) and partly acquired Dai Viet Securities Company and Hung Vuong Insurance Company.

 

TrustBank also planned to scale up its authorised share capital to VND5,000 billion this year, up 40 % compared to that in 2010 and targeted a pretax profit of VND600 billion, up 98 % from 2010. It also planned to set up 110 transaction units.

 

In 2011, Trustbank will expand and specialise core business lines and effectively operate TrustAsset, TrustLand, Dai Viet Securities Joint Stock Company and Hung Vuong Insurance Company, etc.