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Vietnam Industry and Trade Commercial Bank (Vietinbank  coded CTG) announced its combined business results in 2009, in which the bank reported gaining profit after tax of 752.3 billion dong in Q4 of 2009, increasing the accumulative profit of 1.191 trillion dong, a drop of 40 percent against 2008. Vietnam Industry and Trade Commercial Bank (Vietinbank – coded CTG) announced its combined business results in 2009, in which the bank reported gaining profit after tax of 752.3 billion dong in Q4 of 2009, increasing the accumulative profit of 1.191 trillion dong, a drop of 40 percent against 2008.

The bank's Q4 net profit from Vietinbank's services was estimated at 243.5 billion dong, while progressive profit for the whole year of 412 billion dong.

The bank's forex activities reported to suffer loss of 26.4 billion dong in the Oct-December 2009, resulting in the accumulative loss of 25.2 billion dong. Meanwhile, CTG earned profit of 15.3 billion dong stock investment activities in Q4, leading to the whole year lost of 19.2 billion dong due to large loss of 42.5 billion dong in Q1 and Q3.

The bank's net profit before setting up the standby fund for credit risk in Q4 was estimated at 514 billion dong, while the progressive net profit reached over 1.536 trillion dong, down 59 percent year-on-year.

Vietinbank's total assets value up to December 31, 2009 was reported at about 245.412 trillion dong, increasing by 24 percent against the previous year.

After February 8 trading session, CTG-coded shares dipped by 200 dong to 27,500 dong per share with 116,890 units being transferred.

Source: http://www.intellasia.net/news/articles/finance/111286967.shtml