KienLongBank to have 15pct credit growth in 2012

Kien Long Commercial Joint Stock Bank (KienLongBank) has recently been classified in the Group 2 (average bank) by the State Bank of Vietnam (SBV) whereby the bank will have credit growth limit this year at 15 percent, equalling to the credit growth line of some commercial banks such as NamA Bank, DaiA Bank and NaviBank.

With this limit, Truong Hoang Luong, KienLongBank’s general director, said that his bank will focus capital sources for sectors such as agriculture and small and medium sized enterprises (SMEs).

In 2011, KienLongBank gained 522 billion dong pre tax profit, rising 102 percent year-on-year, total deposits by the end of 2011 reached 14.05 trillion dong, up 52 percent on year and total outstanding loans were 8.404 trillion dong, growing 20 percent on year.

In 2012, KienLongBank targets to reach pre tax profit of 710 billion dong, dividend at above 20 percent and bad debts ratio at 2 percent of the total loans.

 

Category: Finance