Bao Viet Holdings Posts VND1,521 Bln Profit in 2011
Vietnam’s largest insurer Bao Viet Holdings (BVH) reported to make a pre-tax profit of VND1,521 billion in 2011, up 17.31 percent year on year, on revenues of VND14,872 billion, up 15.32 percent.
Revenues from life and nonlife insurance totalled VND9,751 billion.
Bao Viet Life Insurance Company reported a profit before tax of VND606 billion. Bao Viet Insurance posted a pre-tax profit of VND447 billion, an increase of VND112 billion (up 33.51 percent).
Insurance premiums reached VND9,372 billion, a rise of VND1,127 billion (up 13.66 percent).
Earnings from banking operations were VND431 billion, an increase of VND148 billion, or 52.26 percent.
Profit before tax of parent company was VND918 billion in 2011, up 2.89 percent over 2010 with VND892 billion. Its revenues grossed VND1,618 billion, up 28.3 percent from 2010 (VND1,261 billion).
Financial strengths were boosted. The owner’s equity increased from VND10,514 billion to VND11,228 billion. Total assets valued VND12,529 billion.
Luu Hiep
Vietnamese
