Technological and Commercial Bank, Vietnam's seventh largest, said on Thursday its assets were 43 percent higher at the end of July than at the end of 2006 at 25 trillion dong ($1.5 billion) as loans grew 41 percent.
The unlisted Hanoi-based bank, 15 percent owned by HSBC Holdings Plc., said in a statement it had a gross profit of 364 billion dong ($22.5 million) in the first seven months of this year.
The lender, also known as Techcombank, said loans grew to 12.43 trillion dong ($769 million) but did not give a net profit or a comparative figure for the same period last year.
Techcombank's gross profit in the first seven months of this year is already higher than its pre-tax earnings for the whole of 2006, which rose 24.7 percent from 2005 to 357 billion dong.
Deposits in the first seven months rose 49 percent from the end of last year to 22.58 trillion dong ($1.4 billion).
Last month, the central bank gave Techcombank permission to raise 4 trillion dong ($248 million) in a domestic bond issue this year.
Source: Reuters
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