ABBank posts VND300B pretax profit for first half

ABBank posted a pretax profit of VND 307.6 billion in the first six months, meeting 46.3% of the year target.

However, it is down 13% on year according to the bank's website.

As of June 30, 2011, ABBank achieved total assets of VND38.955 billion, up 22% on year and meeting 81.2% of year-target; total deposits of VND 25.94 trillion, up 25.8% on year and fulfilling 75.9% of year target; total outstanding loans of VND 19.148 trillion, or 79.8% of year target.

ABBank has expanded its network to 125 branches at 29 provinces nationwide in H2/2011.

The bank targeted to generate VND 48 trillion total assets; VND4.2 trillion charter capital; VND 664 billion pretax profit; VND 34.160 trillion total deposits and VND 24 trillion total outstanding loans in 2011.