Asia Commerical Bank expects 14% profit growth this year

Wednesday, Mar 30, 2016 08:07

HA NOI (Biz Hub) — The Asia Commercial Bank (ACB) plans to report a pre-tax profit of about VND1.5 trillion (US$66.7 million) this year, an increase of 14 per cent over last year.

This year, the bank is expected to pay dividend in shares at a rate of 10:1, meaning a shareholder owning 10 shares will receive a new share.

Its total assets are expected to reach VND237 trillion on December 31, 2016, up 18 per cent over the end of 2015.

The bank also projects a year-on-year growth of 18 per cent for both deposits and lending, while controlling bad debts at less than three per cent of its total outstanding loans in 2016. — VNS

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