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Insurer targets 14% higher profit

Update: April, 03/2012 - 10:48

HCM CITY — Bao Viet Holdings, which specialises in areas of insurance, banking and financial services, aims for a profit growth of 14 per cent this year.

The company, listed on HOSE as BVH, expects a 20 per cent increase in turnover this year, according to CEO Nguyen Thi Phuc Lam. The targets are subject to approval by its annual shareholder meeting later this month.

Lam said at a press briefing last week that the company would begin restructuring its business this year, refine the group's operating model and improve corporate governance to ensure sustained success in the future.

The group earned total pre-tax profits of VND1.521 trillion (US$72.5 million) last year, more than 17 per cent over the previous year. Its revenues of VND14,872 billion ($708 million) marked a 15.32 per cent increase over 2010. — VNS

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