Vietnam's ACB posts $35M net in Q1 2012

ACB reported a net interest income of 1.651 trillion dong in the first quarter of 2012, increasing by 29 percent over the same period last year.

Asia Commercial Joint Stock Bank’s operation costs and spending on credit risk backup fund surged sharply on year at 818 billion dong and 117 billion dong respectively.

After spending on costs and taxes, ACB’s after tax profit was 725 billion dong, rising 7 percent on year.

As of March 31, 2012, the lender’s bad debts ratio was 1.17 percent, credit growth at 1.7 percent and total deposit growth at 1.72 percent. Its total assets reached 263.611 trillion dong, down 5.5 percent from the end of 2011.