Wednesday 16 January 2019
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todayonline - 6 days ago

Vietnam s Vietcombank 2018 pre-tax profit up 62 percent at $791.3 million - government

HANOI - The Joint Stock Commercial Bank for Foreign Trade of Vietnam posted a pre-tax profit of 18.36 trillion dong ($791.3 million) in 2018, up 62 percent from a year earlier, the government said on Friday. The lender, better known as Vietcombank, is the largest listed bank in the Southeast Asian country and is targeting a 12 percent growth in pre-tax profit this year, the government said in a statement. It said bad debts now account for 0.97 percent of Vietcombank s total lending. Vietcombank said on Wednesday it raised $265 million selling new shares to Singapore s state investor GIC Pte Ltd and Japan s Mizuho Bank Ltd. REUTERS

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