TienPhongBank reports 164.7b dong in '09 profit

VNStockNews.com - Tien Phong Commercial Joint Stock Bank (TienPhongBank) reported gaining 164.7 billion dong in 2009 profit after deducting money for risk standby fund, surpassing 10.5 percent of the full year's plan.

Till the last year end, the bank's total assets reached 10.737 trillion dong while the overdue debts were only 260 million dong.

Starting operation from June 2008 with the founding shareholders of FPT JSC, VMS MobiFone, Vinare and some others, the bank covers Hanoi, HCM City, Can Tho, Da Nang and Hai Phong with 15 branches and transaction sites. Extra one transaction point and 25 new branches will be opened in 2010.

In late December 2009, TienPhongBank announced to sell 50 million shares for charter capital increase and expand business nationwide.