Tin Nghia Bank aims to beat business plan in 2011

The Ho Chi Minh City-based Tin Nghia Bank recently organised the Annual General Meeting of Shareholders for the fiscal year 2010.

The Board of Directors, the Supervisory Board and the Executive Board reported business results and other matters to the shareholders. The lender’s assets totalled VND46,414 billion in 2010, equal to 106 percent of the full-year plan; deposits reached VND41,408 billion, or 106 percent of the yearly plan; profit before tax was VND514 billion, equal to 114 percent of the annualised plan; outstanding loans were VND26,233 billion, or 103 percent of the plan.

The shareholders approved the much-expected plan to raise the authorised share capital to VND4,588 billion. They also voted for resolutions on improving governance and personnel, upgrading IT infrastructure system, expanding networks to important locations, and enhancing performances of affiliated companies.

In 2011, the bank targets its assets to reach at VND55,000 billion, deposits at VND48,000 billion, profit before tax at VND550 billion, and outstanding loans at VND30,000 billion. Shareholders were also in favour of 8 percent divined for the fiscal year 2010. – VCCI

Tags: Tin Nghia Bank

Posted by VBN on Apr 22 2011. Filed under Banking-Finance. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry