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Home / Economy / Banking & Finance
Vietnam’s Bao Viet beats 2009 net profit forecast
14:43, 2010/01/23
The Hanoi Times - Bao Viet Insurance & Finance Group, Vietnam’s biggest insurer, said pretax profit in 2009 exceeded its target by 19 percent to reach more than VND1 trillion (US$54 million).

The Hanoi Times - Bao Viet Insurance & Finance Group, Vietnam’s biggest insurer, said pretax profit in 2009 exceeded its target by 19 percent to reach more than VND1 trillion (US$54 million).

 

The company, also known as Bao Viet Holdings, estimated revenue last year was VND10.2 trillion, General Director Nguyen Thi Phuc Lam said in a telephone interview Tuesday, without providing comparable figures.


The Hanoi-based insurer, which is partly owned by HSBC Holdings Plc, expects pretax profit this year to rise to VND1.24 trillion and revenue of around VND11.6 trillion, Lam said.

London-based HSBC raised its holding in Bao Viet to 18 percent from 10 percent in a deal completed Tuesday, according to Lam.

 

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