CTG's Q1 net rises 60 pct, helped by loans growth

[smilealways]

VietinBank, Vietnam's largest partly private lender by assets, said on Monday its net profit in the first quarter ended March surged 60 percent from a year ago to 1.39 trillion dong ($66.7 million), helped by growth in loans.

The Hanoi-based bank said in a statement it saw a 14 percent annual rise in outstanding loans to 280 trillion dong ($13.44 billion).


Its total assets at the end of March rose nearly 28 percent from March 31, 2011 to 406 trillion dong, the statement said. ($1=20,825 dong).

[smilealways]

VietinBank, Vietnam's largest partly private lender by assets, will conclude talks over a stake sale to a foreign strategic investor in the third quarter, its chairman said on Wednesday.

The Hanoi-based lender also plans to sell a further 20 percent stake to a strategic investor in the fourth quarter, cutting state ownership to 60 percent, Chairman Pham Huy Hung told an industry meeting.