DaiABank triples pretax profit in 2011 with VND502B

DaiABank announced a pretax profit of VND502 billion in 2011, up 300% on year.

As of Dec 31, 2011, the bank had total assets of VND22.3 trillion, total deposits of VND5.208 trillion, up 13.7% on year and total outstanding loans of VND6.996 trillion, up 19.9% a year earlier. Of note, bad debts of the bank stayed below 1% of total outstanding credits.

DaiABank’s profits mostly sourced from non-credit services while profits from credit activities accounted for a very small proportion of the total, the lender said.

Last year, DaiABank opened 11 new branches and transaction offices, adding to the total of 63 transaction counters over the country.