RETAIL BANKING | Cesar Tordesillas, Vietnam

PG Bank posts VND608B pretax profit in 2011

PG Bank reported a pretax profit of VND608 billion in 2011.


This represents 108.5% of its full-year target and a doubling of its VND293 billion in 2010.

The lender has total assets of VND17.889 trillion as of the end of 2011, total deposits of VND10.927 trillion, down 22% from 2010 and total outstanding loans of VND12.112 trillion, up 11% on year.

At present, PG Bank or Petrolimex Group Commercial Joint Stock Bank has a network of 74 transaction counters nationwide. This year, the bank plans to open another 38 branches and transaction offices.

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