A transaction counter at ACB. Gold and forex trading caused the bank to lose $4 million in the first quarter. — Photo vietinfo.cz

HÀ NỘI — Asia Commercial Bank (ACB) earned VNĐ1.23 trillion (US$58.6 million) in net revenues in the first quarter of this year, about 76.4 per cent of the amount earned in the same period last year, according to the bank's financial reports.

Most of its business activities generated incomes for the bank, but gold and foreign-exchange trading areas caused it to suffer a loss of nearly VNĐ84 billion ($4 million). Securities trading profits fell by 18 per cent year-on-year to nearly VNĐ30 billion ($1.4 million).

After-tax profits reached VNĐ307 billion ($14.6 million) after the bank established a provisional fund for credit risks worth VNĐ202 billion ($9.6 million).

Deposits grew 8 per cent and lending expanded 4 per cent in the quarter, while bad debts increased by 20 per cent, or about VNĐ3 trillion ($142.8 million). The bank also has VNĐ15.58 trillion ($742 million) deposited at other lending institutions.

ACB shares remained unchanged on the Hà Nội Stock Exchange in this morning's session at VNĐ16,100 ($0.76) per share. — VNS