Nam A Bank projects 19% rise in profits

Tuesday, Apr 05, 2016 21:22

Transactions are carried out at Nam A Bank. The bank plans to raise its equity to VND4 trillion this year. -- Photo

HCM CITY (Biz Hub) — Nam A Bank plans to report a pre-tax profit of VND300 billion ($13.3 million) this year, an increase of 19 per cent over last year.

The bank announces these figures in a statement prepared for its shareholders' meeting, which will be held in HCM City on April 15.

This year, deposits at Nam A are expected to grow by 17 per cent year-on-year to VND28.5 trillion, and its outstanding loans are expected to rise by 20 per cent year-on-year at VND25 trillion.

The bank projects a total asset value of VND40 trillion for 2016, up 13 per cent over 2015, while it plans to increase its charter capital from VND3 trillion to VND4 trillion this year.

Nam A says it will continue to maintain its bad debt ratio at below 3 per cent, a cap set by the State Bank of Việt Nam to ensure security of the domestic banking system. Last year, Nam A controlled this ratio at 0.91 per cent. — VNS

Comments (0)