Techcombank 2008 Net Profit VND1.18 Trillion Vs VND510 Billion

VNStockNews.com - Viet Nam Technological Joint Stock Commercial Bank, or Techcombank, Wednesday said its 2008 net profit more than doubled to VND1.18 trillion from VND510 billion a year earlier.

The unlisted Hanoi-based bank, in which HSBC holds a 20% stake, posted revenue of VND1.76 trillion for 2008, compared with VND925 billion in 2007.

It didn't provide comments about its performance, and gave no information on its level of non-performing loans.

At the end of last year, the bank had total assets of VND59.07 trillion, up 49% on year.

Vietnam's 38 commercial joint stock banks are required by the State Bank of Viet Nam, the country's central bank, to post their annual financial results. (Dow Jones)