Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank-STB) has recently announced the fiscal report in the first quarter this year with 12 percent after tax profit growth year-on-year to reach approximately 453 billion dong.
Notably, in Q1, STB's business activities in foreign exchange sector posted a loss of 155 billion dong while the loss was 68 billion dong in last Q1. The bank's securities trading activities also saw a loss of 42.83 billion dong.
STB reported gaining net profit from stake purchase at 54 billion dong, falling 39 percent year-on-year.
Meanwhile, the bank's net income contributed nearly 1.137 trillion dong, rising 120 percent year-on-year, and its net profit from service sector at 341.55 billion dong, up 48.5 percent.
The bank's operation costs in Q1 were 574.8 billion dong, rising 35 percent y-o-y.
Ending the first quarter this year, STB gained 452.9 billion dong after tax profit, rising 12 percent from Q1 2010 and achieving 22 percent of the year's target.