Published On: Tue, Jan 17th, 2012

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

Tags: , ,