Nam A Bank aims to increase this year's pre-tax profit to reach VND360 billion ($16.58 million), while capital mobilisation and outstanding loans will be VND23.5 trillion ($1.08 billion) and VND21 trillion ($967.74 million), respectively. — Photo kinhdoanhnet

HA NOI (Biz Hub) — Nam A Bank's pre-tax H1 profit surged sharply by 96 per cent year-on-year to touch VND188 billion (US$8.66 million), the bank's General Director Luong Thi Cam Tu said yesterday.

As a result, the bank, whose total assets reached VND33.473 trillion ($1.54 billion) as of June 30, met half of its annual target set for this year, Tu said at the bank's shareholders meeting yesterday.

The bank's capital mobilisation in H1 also surged 45 per cent year-on-year, while outstanding loans were up 36 per cent.

Tu said the bank's non-performing loans (NPLs) accounted for roughly 1.31 per cent of its total outstanding loans.

Nam A Bank aims to increase this year's pre-tax profit to reach VND360 billion ($16.58 million), while capital mobilisation and outstanding loans will be VND23.5 trillion ($1.08 billion) and VND21 trillion ($967.74 million), respectively.

The bank will also continue to keep its NPL rate under three per cent, as required by the State Bank of Viet Nam.

The bank also aims to increase its total assets to reach VND40 trillion ($184.33 million) by the end of this year, by selling 100 million shares in its initial public offering.

At the meeting yesterday, Nam A Bank also dismissed Nguyen Quoc Toan as the bank's chairman and elected Phan Dinh Tan, who was born in 1954 and has been vice-chairman of the bank's board of directors since March 2014, as its new chairman. — VNS