UPDATE 1-Vietcombank sees 2015 profits flat on higher sour loan provisions

April 24, 2015 6:21 AM

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HANOI, April 24 (Reuters) - Vietcombank, Vietnam's top lender by market value, said it expects a solid expansion in lending this year but forecast flat profits as it makes more provisions for underperforming loans under new central bank rules.

The Hanoi-based bank, 15 percent owned by Japan's Mizuho Corporate Bank, estimated pretax profit at 5.9 trillion dong ($274 million), up just 0.4 percent from last year.

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