VietinBank's 2010 net profit soars 169 pct y/y

TN News

Email Print

VietinBank, Vietnam's largest partly private lender, said net profit jumped 169 percent to VND3.44 trillion (US$164.7 million) last year.

VietinBank, or the Vietnam Joint Stock Commercial Bank for Industry and Trade, said annual lending jumped 43 percent from 2009 to VND231.32 trillion ($11 billion), the Hanoi-based bank said in a financial report on Wednesday.

Shares in the bank were trading up 2.54 percent at VND24,200 each at 0217 GMT on Wednesday.

Last month VietinBank sold a 10-percent stake to the International Finance Corp (IFC) and the IFC Capitalization Fund for around $182 million.

In January, Fitch Ratings affirmed VietinBank's Individual rating at "˜D/E' and also affirmed Vietinbank's Support rating at "˜4'.

More Business News