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Vietnam Sacombank assets dip 2.6 pct in April

Wed May 7, 2008 12:55pm IST
 
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HANOI, May 7 (Reuters) - Sacombank STB.HM, Vietnam's sixth-largest lender, said on Wednesday it had total assets of 73.25 trillion dong ($4.58 billion) at end-April, down 2.6 percent from a month earlier.

The Ho Chi Minh City-based bank said January-April gross profit jumped 40 percent to 536 billion dong ($33.5 million).

In a statement, the bank said "the unpredictable trend of the global economy" in the January-April period had been difficult, but "Sacombank maintained the positive result thanks to its accurate economic forecast and appropriate business plan."

Sacombank shares closed down 1.9 percent at 31,700 dong on Wednesday.

The World Bank's International Finance Corp, Dragon Capital and ANZ Bank (ANZ.AX: Quote, Profile, Research) together own 30 percent of Sacombank, the ceiling for foreign ownership of listed banks in Vietnam. (Reporting by Nguyen Nhat Lam, Editing by Ian Geoghegan)

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