Saigon Thuong Tin Commercial JS Bank or Sacombank (coded STB) reported gaining nearly 405 billion dong in profit after tax during the first three months of 2010, a year-on-year rise of 53 percent.

In this period, the income from interests and similar earnings of STB reached over 2.064 trillion dong. STB earned about 230 billion dong from services, jumping 161 percent from Q1 of 2009.
In fields of securities trading, the bank also gained over 22.11 billion dong and 13.33 billion dong, against the losses of 48.15 billion dong and 15.66 billion dong correspondingly as compared with the same period of last year.

Moreover, Sacombank’s profit from foreign currency trading brought in over 69.42 billion dong in Jan-March. However the profit was fairly low against 216.15 billion dong of Q1 of 2009.

The investment contribution created over 88 billion dong of earnings to the bank while the cost for operations accounted for more than 427 billion dong.

As reported, STB’s net profit and pre-tax profit in Q1 were estimated at 520 billion dong and 510.8 billion dong.

Vietstock