Vietnam Military Bank reports 25.8% credit growth in 2011
Military Commercial Joint Stock Bank (MB) said that total outstanding loans of the bank as of end-2011 reached VND60.056 trillion, up 25.8% from the beginning of the year.
Of the sum, outstanding loans in non-production sector accounted for 14.94%, well under 16% level as regulated by the State Bank of Vietnam (SBV).
Total deposits of MB at year end were estimated at VND89.581trillion, up 36% on year and surpassing 5% of its full-year target. Bad debts at the bank stayed at 1.62% of total outstanding credits.
The HoSE-listed lender also reported a pretax profit of VND2.823 trillion in 2011, up 30% YoY and fulfilling 101% of its whole-year plan.
As of Dec 31, 2011, MB had total assets of VND139.173 trillion, up 33% from the end of 2010 and charter capital of VND7.3 trillion, unchanged from the previous year.
In 2012, the bank aims to have total assets growth of 22%, charter capital growth of 64%, total deposit growth of 21% and credit growth of 15%.
Source Sophie/ StoxPlus
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Tags: Vietnam banking industry, Vietnam finance, Vietnam financial