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VietNamNews

Vietcombank targets higher earnings, dividends this year

Update: March, 24/2012 - 09:03

HA NOI — Vietcombank (VCB) projects a net profit this year of over VND4.9 trillion (US$233.3 million) on which it will pay a 12-per-cent dividend. Last year, the bank posted a profit of nearly VND5.7 trillion ($271.4 million), up 2.3 per cent over 2010. Total assets reached VND367 trillion ($17.5 billion), an increase of 19.2 per cent, while the bank's bad debt ratio was 2.03 per cent, well within its target of 2.8 per cent.

The State Bank of Viet Nam has approved Vietcombank to increase its charter capital to nearly VND23.2 trillion ($1.1 billion), making it the third commercial bank with a charter capital of over $1 billion, after Agribank and the Bank for Investment and Development of Viet Nam (BIDV).-VNS

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