Vietinbank's net income climbed 3 pct in first half

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Vietnam Joint-Stock Commercial Bank for Industry & Trade, the country's second-biggest listed lender by market value, posted a 3 percent increase in net income in the first half of 2010.

Profit totaled VND1.65 trillion (US$85 million) compared with VND1.60 trillion a year earlier, the Hanoi-based bank said in a statement on the stock exchange's website. The lender, known as Vietinbank, posted total assets of VND295 trillion, a 21 percent increase from Dec. 31.

The bank plans to sell VND5 trillion of two-year bonds this year, according to a company filing to the Ho Chi Minh City Stock Exchange. The notes will have an interest rate of 11.19 percent in the first year. The rate for the second year will be fixed later, depending on the market rate, it said.

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