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Vietnam's Vietcombank 2018 pre-tax profit up 62 pct at $791.3 million: gov't

Friday, January 11, 2019, 18:04 GMT+7
Vietnam's Vietcombank 2018 pre-tax profit up 62 pct at $791.3 million: gov't
A Vietcombank office. Photo: Tuoi Tre

HANOI, Jan 11 - The Joint Stock Commercial Bank for Foreign Trade of Vietnam posted a pre-tax profit of 18.36 trillion dong ($791.3 million) in 2018, up 62 percent from a year earlier, the government said on Friday.

The lender, better known as Vietcombank, is the largest listed bank in the Southeast Asian country and is targeting a 12 percent growth in pre-tax profit this year, the government said in a statement.

It said bad debts now account for 0.97 percent of Vietcombank’s total lending.

Vietcombank said on Wednesday it raised $265 million selling new shares to Singapore’s state investor GIC Pte Ltd and Japan’s Mizuho Bank Ltd. 

Reuters

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