Saturday, June 13, 2009

Eximbank achieves 45 pct of 2009 profit target

Vietnam’s Eximbank, 15 percent owned by Japan’s Sumitomo Mitsui Financial Group, reported on Tuesday a VND674 billion gross profit for the January-to-May period, or 45 percent of the target for all of 2009.

The Ho Chi Minh City-based bank, Vietnam’s eighth largest lender by assets, said loans reached nearly VND30 trillion by the end of May, up 41 percent from the end of 2008.

It did not provide comparative profit or lending figures for the same period last year.

Eximbank has projected a gross profit of 1.5 trillion VND for the whole of this year as it seeks to expand domestic networks and accelerate annual credit growth to 60 percent from a rise of 15 percent last year.

Source: Reuters


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