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RETAIL BANKING | Cesar Tordesillas, Vietnam

Vietcombank targets $238.6M after tax profit in 2012

Vietcombank is targeting an after tax profit at 4.929 trillion dong or US$238.6 million, a year on year increase of 17%.


It is also aspiring for a pre tax profit of 6.59 trillion dong in 2012, up 15% year on year.

The bank also targets to reach total assets growth of 18% by the end of 2012, credit growth at 17% and total deposit growth at 18% on year.

Vietcombank’s bad debts ratio in 2012 is expected to be kept at below 2.8% against 2.03% in 2011.

The bank also expects a dividend payment of12% this year.

The bank’s director board will submit its plan in the Annual General Meeting to list 1,787,023,116 shares belonging to the state holding in VCB on the stock market, accounting for 77.11% of the bank’s chartered capital in 2012.

In addition, in 2012, VCB plans to set up more subsidiaries such as asset management company, remittance company and consumer credit finance company. Currently, Vietcombank has some subsidiaries such as financial leasing company and securities company.

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