Maritime Bank exceeds 2009 profit target

Maritime Bank said its pre-tax profit until the end of August was 10% higher the full year target of VND600 billion (about US$35.3 million).

The bank said the profit was equal to 244 percent of the same period of last year.

Maritime Bank finalized its full year target during its shareholders meeting this April, when the Vietnamese economy still saw more difficulties due to the global downturn than now.

Analysts said bankers in Vietnam, because of difficulties they were facing last year and earlier months this year, set their targets close to those of last year.

In the final week of August, Maritime Bank said it provided a US$23 million loan to Cam Pha Power Joint Stock Company to build a coal-fired power plant in northern Vietnam. The bank did not provide further details on the loan.

The bank said in a statement that the Cam Pha 2 Power Plant, located in Quang Ninh province, will have a capacity of 300 megawatts. It is scheduled for completion by October 2010.

On the National Day, September 2, Maritime Bank received a Vietnam Golden Star award at an award ceremony in Hanoi.

A Maritime Bank representative receives a Vietnam Golden Star award in Hanoi on Sep. 2

The 2009 Vietnam Golden Star Awards were given to the top 200 businesses in the country that have made great contributions to the economy.

By Tuong Thuy

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