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Vietcombank to revive listing plans this year, chairman says
Joint-Stock Commercial Bank for Foreign Trade of Vietnam, the country’s third-largest bank by assets, plans to revive its listing plan this year, said chairman Nguyen Phuong Binh, after a delay in June amid the economic slowdown.
The Hanoi-based lender, also known as Vietcombank, had a pretax profit of VND1.3 trillion (US$73 million) in the first quarter, he said.
“In the current economic situation, the first quarter is relatively good, but the difficulties are still ahead amid the global recession,” he said in an interview yesterday in Hanoi. He did not give comparative figures for last year, but said they “are almost the same.”
Vietcombank is the nation’s first state-owned lender to sell shares. The bank expects pretax profit to be unchanged at VND3.3 trillion this year and total assets to rise 11 percent to VND246 trillion, it said April 22.
thanhnien, Bloomberg
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