ACB's net profit increases in 2014

The Asia Commercial Bank (ACB) has reported that its revenue and net profit last year were VND6 trillion ($285.7 million) and VND952 billion ($45.3 million), increases of 7.2 and 15.2 per cent over 2013's numbers, respectively.

ACB also reported that its before-tax profit last year reached VND1.2 trillion ($57 million), an increase of 17.4 per cent over 2013's number and 2.1 per cent over 2014's targeted number.

However, ACB also raised its operation costs, as the bank was working to rebuild its brand and increase employees' wages and bonuses.

The bank increased its credit growth rate by 8.5 per cent over 2014 and by 4.3 per cent over 2013. Its net income margin (NIM) also increased from 2.9 per cent in 2013 to 3 per cent in 2014, which helped the bank raise its net profit by 8.6 per cent over 2013.

bizhub

>   MWG announces revenue for January (03/03/2015)

>   HNX: UPCoM Admission of Construction And Materials Trading Joint Stock Company (03/03/2015)

>   CHP: Annual Corporate Governance Report 2014 (03/03/2015)

>   PCT: Notice of record date for a ballot (02/03/2015)

>   PPP: HNX notice: Alert on PPP removed (02/03/2015)

>   TPP: Result of offering shares under private placement (02/03/2015)

>   NDN: General Mandate 2015 (02/03/2015)

>   HIG: Board Resolution (02/03/2015)

>   HPB: Board Resolution (02/03/2015)

>   VTJ: Annual Corporate Governance Report 2014 (02/03/2015)