Vietnam Techcombank's end-Nov assets triple to $2 bln
HANOI, Dec 10 (Reuters) - Vietnam's Technological and Commercial Bank, 15 percent owned by HSBC Holdings Plc. (HSBA.L) (0005.HK), said its assets tripled to 33.29 trillion dong ($2 billion) at the end of November.
The unlisted bank, also known as Techcombank, made a gross profit of 638 billion dong in the first 11 months of this year, it said in a statement seen on Monday.
The Hanoi-based bank, Vietnam's eighth-largest lender by assets, had total assets of 10.77 trillion dong at the end of November 2006.
Techcombank said loans at the end of last month stood at 17.12 trillion dong while deposits reached 29.74 trillion dong. It did not give a net profit or a comparative figure for the same period last year.
Techcombank made a gross profit of 357 billion dong for the whole of 2006, 24.7 percent higher than 2005.
The bank statement said Techcombank has issued 77.3 million shares to raise funds to boost its registered capital by 48 percent to 2.52 trillion dong.
The bank is the first in Vietnam to provide broking services for coffee exporters to trade directly on the London robusta futures market. Vietnam is the world's largest producer of the variety. ($1=16,119 dong) (Reporting by Ho Binh Minh, editing by Jacqueline Wong)
