phuocpham
08-10-2009, 04:24 PM
Vietnam’s largest insurer, Bao Viet Holdings, said on Wednesday gross profit in the first eight months of this year jumped 43 percent from a year earlier to VND828 billion.
Gross profit for the Hanoi-based group, 10.3 percent owned by HSBC Insurance, was 6.3 percent above the annual projection after January-August revenues rose 10.7 percent to VND6.65 trillion, a Bao Viet statement said.
HSBC Insurance wants to buy another 8 percent in Bao Viet, the statement quoted a representative of the foreign investor as telling Deputy Prime Minister Nguyen Sinh Hung at a meeting on Monday.
HSBC Insurance and Bao Viet will start talks on the 8-percent stake purchase via a separate share issue scheduled later in 2009, the statement said without giving further details.
Bao Viet shares advanced VND900, or 2.6 percent, to close at VND34,800 on Wednesday.
Gross profit for the Hanoi-based group, 10.3 percent owned by HSBC Insurance, was 6.3 percent above the annual projection after January-August revenues rose 10.7 percent to VND6.65 trillion, a Bao Viet statement said.
HSBC Insurance wants to buy another 8 percent in Bao Viet, the statement quoted a representative of the foreign investor as telling Deputy Prime Minister Nguyen Sinh Hung at a meeting on Monday.
HSBC Insurance and Bao Viet will start talks on the 8-percent stake purchase via a separate share issue scheduled later in 2009, the statement said without giving further details.
Bao Viet shares advanced VND900, or 2.6 percent, to close at VND34,800 on Wednesday.