BIC fulfils 2011 pre-tax profit plan of 100b dong
In which, the revenue from insurance business accounted for 688.01 billion dong, up 24 percent on year and that from financial investment reached 286.7 billion dong, growing 13.8 percent against one year earlier.
Also, the company achieved pre-tax profit of 100 billion dong last year, fulfilling the year plan and increasing 217 percent year-on-year.
Its ownership capital by the end of 2011 leaped 10 percent to 750 billion dong; total deduction for prevention fund was up 16 percent to 292.4 billion dong while its Return on Equity (ROE) was 10.53 percent.
Total assets of BIC late last year were posted at around 1.871 trillion dong, down 25 percent compared with the same period of 2010 because of the cuts in investment mandate items.
In 2011, BIC established two new affiliates namely BIC North and BIC Saigon. Its two companies in Laos and Cambodia (LVI and CVI) both completed the business result plans. Particularly, LVI earned revenue of $4.46 million, leaping 200 percent on year and accounting for 20 percent of Laos' insurance market share, and profit of $308,436. Meanwhile, CVI occupied over 7 percent in Cambodia and could make a small profit.
This year BIC targets to reach revenue growth of at least 23 percent, minimum pre-tax profit of 106 billion dong, ROE of 11.6 percent and a dividend of at least 10 percent.
Also, the company achieved pre-tax profit of 100 billion dong last year, fulfilling the year plan and increasing 217 percent year-on-year.
Its ownership capital by the end of 2011 leaped 10 percent to 750 billion dong; total deduction for prevention fund was up 16 percent to 292.4 billion dong while its Return on Equity (ROE) was 10.53 percent.
Total assets of BIC late last year were posted at around 1.871 trillion dong, down 25 percent compared with the same period of 2010 because of the cuts in investment mandate items.
In 2011, BIC established two new affiliates namely BIC North and BIC Saigon. Its two companies in Laos and Cambodia (LVI and CVI) both completed the business result plans. Particularly, LVI earned revenue of $4.46 million, leaping 200 percent on year and accounting for 20 percent of Laos' insurance market share, and profit of $308,436. Meanwhile, CVI occupied over 7 percent in Cambodia and could make a small profit.
This year BIC targets to reach revenue growth of at least 23 percent, minimum pre-tax profit of 106 billion dong, ROE of 11.6 percent and a dividend of at least 10 percent.