VietNamNet Bridge – Pre-tax profits of Vietcombank and VietinBank, two large banks with majority State ownership, rose slightly in 2012 despite tough challenges facing the banking industry. Vietcombank obtained a consolidated profit of some VND5.7 trillion in 2012 while VietinBank achieved about VND8.21 trillion as of the end of last month. Vietcombank in 2011 enjoyed a consolidated pre-tax profit of roughly VND5.69 trillion and the bank got approval from its shareholders to raise the 2012 profit to VND6.55 trillion. Despite the lender failed to realize its profit target, the slight increase in 2012 manifested the bank’s strong efforts Similarly, VietinBank in 2011 pocketed approximately VND8.39 trillion in pre-tax profits that were yet to be consolidated. The lender’s shareholders after that agreed upon the target of VND9 trillion in profits for the year 2012. “As a bank with majority State holdings, we are supposed to take proactive actions to carry out duties assigned by the Government,” said Le Thi Hoa, board member of Vietcombank. Conforming to the Government’s policy, Vietcombank had sharply cut interest rates two times in 2012, and such rate cuts sent the bank’s profit down by around VND1.2 trillion, Hoa told the Daily. However, she noted, Vietcombank had…
- Make Your Own Site And Profit From It
- The 4 Major Components of Business Growth & Profit-Building Success!
- Bank Your Profits From the Brutal World of Boxing
- Look in Your Own Backyard - Maximizing Profits From Existing Customers
- How to Pump Out Your Own Home Business Profit Machines From Affiliate Marketing
- Eight Questions to Ask Before You Form a Non-Profit Organization
- Let the Lawsuits Begin - Banks Brace For a Storm of Litigation
- Universal Banking - Answer For The Best Banking Design?
- Another Way Around the Credit Crisis - Minnesota Bill Authorizing Banks to "Monetize" Public Works
- Big Banks: Consumers Sturdy Despite Businesses' Growth Fears
Major State-owned banks report profits for 2012 have 304 words, post on at January 15, 2013. This is cached page on IT Breaking News. If you want remove this page, please contact us.