Vietnam's ACB Q3 net up 66 pct, on track for annual target

HANOI, Oct 27 (Reuters) - Asia Commercial Bank ACB.HN, Vietnam's No.5 lender and 15 percent-owned by Standard Chartered Plc (STAN.L), said third-quarter net profit rose by two-thirds, putting it on track to hit its annual earnings target.

Ho Chi Minh City-based ACB said January-September net profit jumped to 496.47 billion dong ($27.8 million) from 298.43 billion dong a year earlier.

ACB has targeted 2.7 trillion dong ($151 million) in net profit for 2009, the CafeF (www.cafef.vn) financial news site quoted ACB as saying. That would be 5.5 percent higher than last year. [ID:nHAN426921]

Total assets at end-September were 169.51 trillion dong ($9.5 billion), up 61 percent from the end of 2008, the bank said.

ACB shares fell 1.1 percent on Tuesday after earlier hitting a 2-week low. The Hanoi Stock Exchange index .HNXI closed down 2.5 percent. [ID:nHAN151663] ($1=17,850 dong) (Reporting by Ho Binh Minh, Editing by Ian Geoghegan)