HNX-listed Asia Commercial Joint Stock Bank (ACB) has recently announced combined fiscal report in Q1 with 438.68 billion dong of after tax profit, growing nearly 22 percent year-on-year.

In Q1, the bank’s profit and similar income reached over 3.024 trillion dong, of which net profit was 725.38 billion dong and ACB’s profit from services was over 127.93 billion dong.

ACB earned 104.61 billion dong from foreign currency activities and gold trading, down over 207 billion dong against the same period last year whereas securities activities and investments brought 3.88 billion dong and 55.93 billion dong respectively.

ACB’s net profit from other activities was over 471 million dong meanwhile it was 20.76 billion dong in the same period last year.

The bank’s management costs increased slightly to 442.37 billion dong, higher than last Q1’s 415.68 billion dong.

Totally in Q1, ACB’s profit was 595.44 billion dong. After deducting 17 billion dong for the bank’s standby fund, its pre tax profit was 579.38 billion dong or 16 percent of the year’s plan.

Till the end of Q1, ACB posted 172.641 trillion dong in total assets, increasing 2.8 percent against the early this year, total deposits increased from 86.919 trillion dong to 89.999 trillion dong and total outstanding loans decreased from 61.855 trillion dong to 57.918 trillion dong.

During Q1, ACB’s investment in securities sector increased from 32.166 trillion dong to 43.118 trillion dong.