VNStockNews.com - Bank for Investment and Development of Vietnam (BIDV) said its pre-tax profit as of Nov 30, 2011 totaled VND4.1 trillion and expected the figure to reach VND4.2 trillion at year end.
BIDV said on its financial reports that the bank’s total outstanding loans, as of Nov 30 climbed to VND268 trillion, up 15.5% from end-2010. The lender’s management board anticipated its outstanding credits to increase by VND9.511 trillion in December, totaling at VND277.511 trillion at year end, up 19.5% from early 2011.
Its total assets as of Nov 30 were estimated at VND403 trillion, up 9.2% from end-2010 and expected to reach VND421 trillion at year end. The bank also revealed its bad debts ratio of 2.8%, which was targeted to stay under 3% at end-2011.
In addition, the bank announced its 2012 growth targets of 15% for total assets, 17% for deposits, and 15% for total outstanding loans.
BIDV plans to carry out IPO in late December this year.
