Maritime Bank gains 700b dong of profit in nine months

VNStockNews.com - Maritime Commercial Joint Stock Bank (Maritime Bank) has announced that it earned accumulative pre-tax profit of 700 billion dong up to Sep 30, exceeding around 15% against the year plan.

In addition, the bank's total assets value was posted at 48 trillion dong, and total raised capital of 45 trillion dong.

It's considered positive business results in the context of the State Bank of Vietnam (SBV) steps to tighten the credit limit from 30% to 25-27% per year and the interest rate for compulsory deposits in dong reduced to 1.2% per year, which would cause bad effects to the earned profit of the banks.

Maritime Bank's representative revealed that the bank's earned profit mainly came from capital trading activities and other services. In the coming time, Maritime Bank planned to access the high-income customers, and to maintain close connection with the effective in-process investment projects.

According to the Monetary Policy Department, under State bank of Vietnam, up to Sep 24, the total outstanding loans from commercial bank network have increased by 26% year-on-year, and the total loans value with supporting interest rate in dong was posted at 405 trillion dong.