Southern Bank eyes pretax profit of $28.7M

Southern Bank is targetting a pretax profit of $28.7 million this year, up 12.68% from a year earlier.

The lender expects to raise total deposits of VND47 trillion by end-2011, up 23.2% on year, total outstanding loans at VND37.2 trillion , up 19%, Southern Bank said in a statement posted on its website Monday.

Its bad debt ratio will be curbed at below 2% this year, the Ho Chi Minh City-based bank said, giving no target on total assets.

In 2011, Southern Bank also plans to sell 95.1 million new shares to raise registered capital to VND4 trillion from current VND3.049 trillion. Currently, the lender has 105 branches and transaction of- fices across the country.

It had total assets of VND60.24 trillion at end-2010, up 69.8% on year. Its net profit increased 68.85% to VND418.98 billion.

Follow the link for more news on

Also Read

Philippine central bank eyes AI rules for banks

Westpac appoints Kate Dee as chief people officer

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit