Transactions are carried out at Nam A Bank. The bank earns $143 million in Q1 profit. — Photo nganhangonline.vn

HA NOI (Biz Hub) — Nam A Bank earned VND3 billion (US$142.86 million) in pre-tax profit during the first quarter of this year, nearly 2.5 times more than its figures for last year's Q1.

This was achieved without extracting any provisional funds during the quarter, the bank said in its latest financial report.

Nam A's net revenue expanded 65 per cent at VND198 billion ($9.43 million) during Q1. Except for securities trading suffering a loss of VND11 billion, other financial norms posted healthy growth, the report said.

During Q1, deposits at the bank grew 7.2 per cent to VND21.78 trillion ($1.04 billion), and its outstanding loans rose by 5.29 per cent to VND16.54 trillion ($787.62 million). Bad debts accounted for 1.42 per cent of all loans.

Its total asset value dropped by roughly 10 per cent to about VND33.58 trillion ($1.60 billion) during the period.

In April, the bank revealed its intention of listing on the stock market this year, announcing that it will sell 100 million shares in an initial public offering, with a combined face value of VND1 trillion ($47.62 million). — VNS