TienPhongBank sees profit double in Jan-May

TienPhonBank obtained VND139 billion in pre-tax profits in the first five months of the year, doubling the figure in the same period last year.

Vu Tu, the new general director of the bank, said that although the bank attained high profit in the early months, it did not expect high earnings in the rest of the year given difficult business conditions.

The bank’s capital adequacy ratio  is more than 18%, much higher than the minimum level of 9% required by the central bank. Its mobilization as of late May had increased by 21% from late last year.