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RETAIL BANKING | Cesar Tordesillas, Vietnam

Vietnam's OCB 9-month net profit down 8%

Orient Commercial Bank's  net profit fell 8% on-year to VND197.5 billion or $9.4 million in the first nine months of the year.

The lender generated a net profit of VND84.2 billion, up 1% on year.

Of the sum, the company earned VND581.7 billion from lending activities, up 39% YoY and VND8 billion from non-credit services, down 46% on year.

However, it incurred a loss of VND3.92 billion from forex and securities trading over the recorded period.

OCB also had plans to raise its chartered capital to VND3.4 trillion from current VND2.64 trillion in 2011.

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