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VPbank expects profit to rise 40 pct
Vietnam Joint Stock Commercial Bank for Private Enterprises, partly owned by the Overseas-Chinese Banking Corp., (OCBC) forecast pretax profit to increase 40 percent this year to VND278.6 billion (US$15.7 million).
The Hanoi-based lender plans to sell additional shares to OCBC, its so-called strategic partner, this year to raise the holdings of Singapore’s third-largest lender to 20 percent from 15 percent, according to a statement on the Vietnamese bank’s website.
The company, which is partly owned by Deutsche Bank AG, announced healthy figures from 2008.
Revenue last year surged 21 percent to VND16.8 trillion while net profit increased 13.4 percent to VND836.3 billion, or VND5,959 per share.
Among other things, FPT produces software, distributes mobile phones, provides internet services, and makes computers, in that order of importance.
VPBank, as it is known, expects the sales to help raise enough to increase its registered capital to VND3 trillion from VND2.1 trillion this year.
Bloomberg, thanhnien
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