Viet Capital Bank targets $3.5m profit

A Viet Capital Bank branch in HCM City. — VNS Photo

HCM CITY — Viet Capital Bank reported a 26 per cent increase in deposits last year to VNĐ35.93 trillion (US$1.57 billion).

Its total outstanding loans were worth VNĐ25.87 trillion ($1.34 billion) at the end of last year, up 19 per cent, with non-performing loans accounting for 1.8 per cent.

At its annual shareholders meeting held recently in HCM City, many targets for 2018 were approved: net profit of VNĐ80 billion ($3.5 million), total assets of VNĐ46 trillion, deposits of VNĐ41.3 trillion and total outstanding loans of VNĐ29.1 trillion.

Non performing loans will be less than 3 per cent.

The management warned of possible headwinds this year, but said with support from shareholders and the State Bank of Việt Nam and efforts from employees, the bank is fully confident of accomplishing the targets. — VNS

Tags Vietnam profit Viet Capital Bank shareholder meeting Vietnam News deposit outstanding loans news

Year-end stimulus expected to boost economic growth

Economy

UK a niche market for Vietnamese speciality coffee

Economy

Calls for reforms to shorten VAT refund wait time

Economy

Fed’s foreseen rate cuts affect foreign exchange rate

Economy

Vietnamese Goods Week 2024 opens in Hà Nội

Economy

Caution arises as State divestment strategy potentially poses risks

More on this story

Economy

Hà Nội to reclaim nearly 40ha of land

The People’s Committee of Hà Nội has requested to reclaim 39.2ha of investor-held land belonging to the city’s land fund, in order to construct public works.

Economy

Petrolimex appoints new chairman

Việt Nam National Petroleum Group (Petrolimex) has appointed PhạmVăn Thanh the new chairman of the group for the period of 2016-2021, starting May 1, 2018.

Economy

Bottom-fishing expected to lift up market

The market seems to be finding its bottom soon, offering investors opportunities to accumulate stocks, helping the indices rebound from a drop last week.

Economy

New enterprises up 80% in April

Over 14,500 new enterprises were formed in Việt Nam in April, with total registered capital of VNĐ133.5 trillion (US$5.86 billion), marking respective month on month increases of 80 per cent in the number of enterprises and 65 per cent in level of capital.

Economy

VN’s CPI sees slight rise in April

Việt Nam’s consumer price index (CPI) in April went up by 0.08 per cent monthly and 2.75 per cent annually, pushing up the four-month figure by 2.8 per cent year-on-year.

Economy

SMEs’ access to credit: Better, but not enough

Despite accounting for some 98 per cent of the country’s enterprises, SMEs’ performance is still constrained mostly by little access to credit.

Economy

FDI disbursement up, inflow of capital down

Việt Nam’s foreign direct investment (FDI) disbursement continued a positive trend in the first four months of 2018 while there was a reduction in the registered FDI capital.

Economy

Sweet news for Bến Tre farmers

The price of off-season rambutan in Bến Tre Province, the largest producer in the Cửu Long (Mekong) Delta, has increased to a two-year high.

Economy

City tries to settle land dispute at North Phước Kiển residential area

HCM City authorities are seeking help from the Ministry of Natural Resources and Environment to resolve a conflict between a property developer and households refusing to move to make way for a residential complex in the North Phước Kiển residential area in the outlying district of Nhà Bè.