HÀ NỘI — The HCM Stock Exchange (HOSE) on Tuesday approved the listing of more than 1.33 billion shares of Việt Nam Prosperity Joint Stock Commercial Bank (VPBank). VPBank has targeted a consolidated net profit of VNĐ8.5 trillion ($374 million) in 2018, 1.5 times the 2017 figure, the business news website cafef.vn reported. The net profit of the parent bank is expected to reach over VNĐ4 trillion, with the rest going to the VPBank Finance Company Limited (FE CREDIT). In the first six months of 2017, VPBank’s profit touched VNĐ2.6 illion, equivalent to 40 per cent of the annual target. However, if VPBank achieves the targets set for 2018, the bank’s profit will be equivalent to that of Vietcombank and even overtake BIDV’s and Vietinbank’s.

Source: Viet Nam News August 09, 2017 08:44 UTC