Vietnamese state-run Bank for Foreign Trade (Vietcombank), which plans a domestic listing this year, said on Monday its assets at the end of March edged up 1.5% from the end of 2006 to 171.92 trillion dong ($10.7 billion).
In terms of assets, the Hanoi-based lender is Vietnam's third-largest bank after Agribank and Vietindebank.
Outstanding loans at the end of March rose 13.5% from the end of 2006 to 74.6 trillion dong ($4.6 billion), while corporate and individual deposits in the bank firmed 5.4% to 118 trillion dong ($7.3 billion), its financial report said.
The report released by the bank's stockbroking arm, Vietcombank Securities, did not give net profit for the first quarter.
In March Vietcombank Chief Executive Officer Vu Viet Ngoan told Reuters the bank's gross profit growth would slow to 10% this year due to rising competition.
Last year Vietcombank's gross profit nearly doubled from 2005 to 3.43 trillion dong ($213 million) and assets surged 24%.
Vietcombank has hired global investment bank Credit Suisse to advise on its partial privatisation. The IPO is expected in July or August, with a listing on the Ho Chi Minh City stock market following within six to eight weeks.
Source: Reuters
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