ACB records 77 percent rise in pre-tax profit

VNECONOMY updated: 10/01/2007

The Asia Commercial Bank (ACB) has reported a pre-tax profit of 682. 4 billion VND (roughly 42.7 million USD) in 2006, up 77.2 percent over the previous year. During that year, ACB mobilised nearly 39.5 trillion VND (2.5 billion USD) and provided loans worth more than 17.1 trillion VND (1.1 billion USD), year-on-year increases of 77 percent and 79 percent, respectively. The bank had nearly 44.9 trillion VND (around 2.8 billion USD) in total assets by the end of 2006, up 85 percent against 2005. Each of ACB shareholders is expected to earn a dividend of 38 percent in the year, including 8 percent in cash and 30 percent in shares. ACB is now one of the leading commercial banks in Viet Nam in terms of profit and service quality.

Source: Vietnam Agency