OCB to deal in gold bars

Wednesday, Nov 12, 2014 16:42

Transactions at OCB. The bank plans to add gold bar trading to its business activities. — Photo ocbbank.wordpress.com

HCM CITY (Biz Hub) ─ The Orient Commercial Bank will discuss adding gold bar transactions to its business activities, and decide on new management board members at an unscheduled shareholder meeting here on November 21.

According to its latest financial reports, the bank gained about VND843.48 billion (US$40.17 million) in net revenues in the first nine months of this year, down 12 per cent year on year.

The revenue from services and foreign currency trading dropped sharply, while the turnover from securities investment and capital contribution increased significantly this year.

On September 30, the bank had VND31.41 trillion ($1.50 billion) in total assets, a fall of four per cent from the figure recorded at the beginning of 2014. The after-tax profits during the first nine months reached VND106.63 billion ($5.08 million), declining 25 per cent over the same period last year.

The bank's management board had announced in late July that three new officials will be voted in to replace members who are resigning, namely two deputy general directors of the trading group Ben Thanh and a representative of French bank BNP Paribas. ─ VNS

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