Techcombank sells headquarters building for $72M
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Techcombank has sold its building in Hanoi for VND1.7 trillion (US$72.49 million), making a profit of over VND730 billion.
It had bought the building on 191 Ba Trieu Street in Hai Ba Trung District 10 years ago from conglomerate Vingroup, changed its name to Techcombank Tower and made it its headquarters.
Earlier this year Vietnam’s biggest private bank moved to its headquarters to 6 Quang Trung Street in Hoan Kiem District.
Techcombank reported pre-tax profits of VND5.6 trillion for the first quarter, down 17% year-on-year.
Its credit growth for the period was 10.6%.
Questions & Answers
Q.What profit did Techcombank make from selling its headquarters building?
What profit did Techcombank make from selling its headquarters building?
Techcombank reported a profit of over VND730 billion from the sale of its Hanoi building. The sale price was VND1.7 trillion, equivalent to US$72.49 million, for the property on 191 Ba Trieu Street.
Q.Where is Techcombank's new headquarters located?
Where is Techcombank's new headquarters located?
Earlier this year, Techcombank relocated its headquarters to 6 Quang Trung Street in Hoan Kiem District. This move happened before the sale of its former building on 191 Ba Trieu Street.
Q.How long had Techcombank owned the building it recently sold?
How long had Techcombank owned the building it recently sold?
Techcombank had owned the building on 191 Ba Trieu Street for 10 years. It had purchased the property from the conglomerate Vingroup before renaming it Techcombank Tower and using it as its headquarters.
Q.What were Techcombank's pre-tax profits for the first quarter?
What were Techcombank's pre-tax profits for the first quarter?
Techcombank reported pre-tax profits of VND5.6 trillion for the first quarter of the year. This figure represented a 17% decrease compared to the previous year, though credit growth was 10.6%.
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