MXBANK NEWS: PERFORMANCE REPORT 1ST QUARTER, 08

In the first quarter of 2008, Vietnamese economy has been fluctuated and inflated that negatively affected to commercial banks’ performance.  In spite of stiff difficulties, MXBank has successfully obtained sustainable growth.  Its business performance as of Mar 30, 08 is as follows

Unit: million dong

Targets

1st quarter-2008

(+)/(-) against the beginning of the year

(+)/(-) against the same period of last year

1. Charter capital

 500.000

 

 +614%

2. Total asset

 1.719.220

 +9,1%

 +104%

3. Mobilized capital

 1.076.766

+12,9%

+46%

4.Outstanding loan

 1.419.077

 +12,2%

+218%

5. Profit before tax

 25.349

 

 +275%
 

           Also, In the first quarter of 2008, MXBank has brought into operation its subsidiaries of Long Xuyen branch, Xuan To Transaction Office, two(2) Credit Groups, and five (5) Savings Funds mounting its total units of 20 within its network which spreading all over An Giang province.

 

DEVELOPMENT ORIENTATION IN 2008:

In the second quarter of 2008, After transforming into the rural commercial bank, MXBank is about to expand its operational network to Can Tho, Hochiminh city, Dong Thap, and several Mekong Delta provinces such as Kien Giang, Long An, Soc Trang.

            In addition, MXBank also increase its charter capital to 1.000 billion in Year 2008, and try to attract sources of funds from metropolitan cities, urbanized regions in order to serve and develop the agricultural production and rural. 

            Besides increasing development, MXBank is also taking care of the development of education and community through several pragmatic activities in the time to come such as assisting student during College entrance exam seasons, awarding scholarships to poor/ attended students, financing the Singing for Minors Festival, constructing houses of love(for the Poors or homeless local residents.)