Vietnam's sixth-largest lender, Saigon Thuong Tin Commercial Bank (Sacombank, STB), said its gross profit in the first four months of this year nearly tripled from a year ago to 413 billion dong ($25.6 million).
The Ho Chi Minh City-based bank said in a weekend statement seen on Monday that the four-month gross profit has risen 183% from a year earlier. It did not provide the net figure.
Sacombank raised 29.5 trillion dong ($1.83 billion) in deposits over the past four months while loans reached 18.7 trillion dong ($1.2 billion), the statement said.
Trading in Sacombank shares dominated Vietnam's main stock market on Monday with 1.25 million shares changing hands.
The stock gained 2.7% to close at 152,000 dong ($9.4) each, which valued the bank at $1.97 billion.
The World Bank's International Finance Corp., Dragon Capital and ANZ Bank together own 26.3% of Sacombank.
Last July Sacombank became the first bank in communist Vietnam to list on the Ho Chi Minh City stock market.
The VN Index ended up 2.54% at 1,066.04 points, up 41.8% so far this year and which is a steady rise from April 24 when it dropped to 905.53 points in a market correction.
Investor interest in the Southeast Asian country's robust economic growth of around 8% a year had driven the index up 55.7% from the end of 2006 to a lifetime high of 1,170.67 points on March 12.
Source: Reuters
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