VietinBank goes from strength to strength with annual asset surge

The total assets of the Joint Stock Commercial Bank for Industry and Trade (VietinBank) grew 14.4 per cent in 2013 from the previous year.

Its pre-tax profit inched up to VND7.75 trillion ($369 million), the bank announced on Tuesday.

The bank's total mobilised funds increased 11 per cent, while its total investment and credit grew 14.7 per cent. Its bad debts fell sharply to 0.82 per cent. The bank is expected to announce a 10 per cent dividend.

With over VND4 trillion ($190.5 million) as its contribution to the budget, VietinBank, last year, topped the list of Viet Nam's top 10 income tax contributors for the fourth consecutive year. It has also become the country's largest bank in terms of charter capital and equity after an increase of more than VND37 trillion ($1.76 billion) in its charter capital and a more than VND55 trillion ($2.62 billion) increase in its equity.

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