12:22:54 PM | 7/8/2008
Bao Viet Insurance Group, Vietnam’s biggest insurer, has reportedly made its pre-tax profits of over VND312.4 billion (US$18.93 million) in the first half this year.
The state-run insurer also gained total revenues of VND4.62 trillion (US$279.82 million) in the period, of which insurance premiums were VND3.55 trillion (US$215.15 million), financial investments VND1.05 trillion, and others VND19.43 billion.
No comparative figures have been announced. Shares of Bao Viet are currently available on the over the-counter market only, having not yet been listed on the official stock exchange.
“The business results will directly impact the share’s price on the stock market,” said Nguyen Tien Dung, an independent securities analyst.
The results would have helped even more if the firm had listed during the first half of the year, Dung added.
General Director of Bao Viet Insurance, Nguyen Thi Phuc Lam, said that the company didn’t want to officially list yet as share-holders risked losses, Lam said that the listing would take place at a suitable time that limited stakeholder loss.
Lam said that the firm has asked the Finance Ministry for a listing schedule which would protect its stockholders. (VnEconomy)
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