Listed banks turn in good profit figures

Vietcombank (VCB) earned a net profit of nearly VND1.8 trillion ($91 million) in the third quarter, raising nine-month profits to nearly VND6 trillion ($307.7 million), up 27.2 per cent over the corresponding period last year.

The net-profit from credit service provision was VND186.3 billion ($9.6 million) in the third quarter, down 14.6 per cent from 2009's corresponding period while profit from foreign exchange rose 17.2 per cent to VND188.7 billion.

Sacombank (STB) posted a net-profit of VND127.7 billion ($6.5 million) from services provision, a year-on-year reduction of 31.7 per cent; while its profit from foreign exchange was VND57.5 billion (about $3 million) in comparison to a loss in 2009's third-quarter of VND34.3 billion.

The bank posted a total net-profit of VND918.7 billion ($47.1 million) in the third quarter, and VND2.2 trillion ($112.8 million) in the first nine months, an increase of 40.42 per cent.

Meanwhile, Eximbank (EIB) posted a foreign exchange year-on-year drop of 53.2 per cent to only VND20.4 billion (over $1 million) in the third quarter. However, the bank had positive third quarter growth in credit services provision, with a net-profit of VND65.9 billion ($3.4 million), up 27.7 per cent.

In total, Eximbank made a net-profit of VND789 billion ($40.5 million) in the third quarter, and nearly VND2 trillion ($102.6 million) in the first nine months, a year-on-year increase of 40.75 per cent.

VietinBank (CTG) on late October 27 updated its business results, announcing a net-profit of nearly VND3 trillion ($153.8 million) for the third quarter and VND8.1 trillion ($415.4 million) for the past nine months.

Both profits from service provision and foreign exchange are positive, of which VND237.9 billion ($12.5 million) was from service provision, up 53 per cent, and VND67.3 billion ($3.45 million) was from foreign exchange, up 57.5 per cent.