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ACB achieves $13 million in profits
Asia Commercial Bank (ACB) earned some VND281 billion (US$13.38 million) in after-tax profits in the first quarter of 2015, up nearly 13 per cent over the same period last year.
According to the bank's latest financial report, the net revenue achieved in Q1 was approximately VND1.39 trillion ($66.19 million), a year-on-year increase of 26.7 per cent.
Income from services reached VND168 billion ($8 million), up 6.3 per cent, while income from foreign currency and securities trading declined, down 59 per cent and 65 per cent respectively, year-on-year.
During Q1, deposits grew 1.37 per cent to reach some VND156.73 trillion ($7.46 billion), and outstanding loans expanded 2.47 per cent to reach some VND119.20 trillion ($5.68 billion). The bad debt ratio was 2.09 per cent, slightly down from the 2.18 per cent recorded at the end of last year.
At the end of the quarter, the bank's total asset value reached more than VND187 trillion ($8.90 billion), rising by 4.3 per cent from the end-2014 figure.
The bank's shares closed up 0.1 points today, reaching VND16,600 (80 cents) per share on the Ha Noi Stock Exchange.
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