The gross profit of Sacombank (STB), Vietnam's sixth-largest lender, in the first eight months of this year was nearly double that of the whole of 2006, an executive was quoted on Thursday as saying.
The profit was 900 billion dong ($55.7 million), up from a pre-tax 543 billion dong last year, Sacombank chairman Dang Van Thanh was quoted by the Securities Investment newspaper as telling a company meeting.
Thanh did not give a net profit figure, but said the Ho Chi Minh City-based bank aimed for a full year gross profit of 1.4 trillion dong ($86.6 million).
Sacombank, whose formal name is Saigon Thuong Tin Commercial Bank, has said its seven-month profit more than doubled as loans surged 139 percent from a year earlier to $1.1 billion.
The World Bank's International Finance Corp., Dragon Capital and ANZ Bank together own 30 percent of Sacombank, the ceiling for foreign ownership of listed banks in Vietnam.
Shares in Sacombank, the first listed bank in the communist ruled country, rose 0.92 percent to 55,000 dong ($3.4) on Thursday.
Sacombank nearly doubled its registered capital to 4.45 trillion dong last month through a share issue as it sought to expand business at home and elsewhere in Asia.
Source: Reuters
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