Vietinbank aims to obtain 2011 profit of 5.1tr dong

Vietnam Commercial Joint Stock Bank of Trade and Industry (Vietinbank – coded CTG) will organise the annual general meeting on May 31 in Sofitel Plaza Hotel, Hanoi. The bank’s management board plans to submit the 2011 business plans with targeted total asset value of 441 trillion dong, increasing by 20 percent year-on-year, pre-tax profit of 5.1 trillion dong, up 11 percent against 2010 and pay dividend at 16 percent.

This year, Vietinbank planned to issue international bonds valued at $500 million – 1 billion with terms of 5-10 years, with floating or fixed coupon rates. The gained capital will be used to raise the capital, meeting the demands for business and funding for important projects. In addition, the management board also planned to summit the shareholders for approval the proposal of setting up Vietinbank Global Bank Transfer with chartered capital of 50 billion dong.

By the end of the first quarter, Vietinbank’s parent bank reported gaining after tax profit of 869.45 billion dong, declining by 9 percent against the same period last year. – Dau tu chung khoan

Tags: Vietinbank, Vietnam banking industry, Vietnam finance, Vietnam financial

Posted by VBN on May 19 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