VIB bank pretax profit reaches 45 percent of full-year target

Vietnam International Commercial Joint-Stock Bank said pretax profit in the first six months was VND323 billion (US$19 million), 45 percent of its full-year target.

The Hanoi-based lender, commonly known as VIB Bank, didn’t immediately release a figure for first-half profit last year, or give its target for 2008.

VIB Bank’s total assets as of June 30 were VND36 trillion, according to an e-mailed statement Monday.

The bank currently has 94 branches nationwide and plans to continue expanding its network, the press release said.

VIB was founded in early 1996 by a number of institutions, including the state-run Bank for Agriculture and Rural Development of Vietnam (Agribank) and the Bank for Foreign Trade of Vietnam (Vietcombank), as well as private businessmen.

Thanhnien

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