Commercial bank SHB’s pre-tax profit surges 47 percent in 2019
The Sai Gon-Hanoi Commercial Joint Stock Bank (SHB) enjoyed over 3 trillion VND (over 129.2 million USD) in pre-tax profit in 2019, representing a yearly increase of 47 percent.
An transaction office of SHB (Photo: VNA)Hanoi (VNA) - The Sai Gon-Hanoi Commercial Joint Stock Bank (SHB) enjoyed over 3 trillion VND (over 129.2 million USD) in pre-tax profit in 2019, representing a yearly increase of 47 percent.
According to a financial report by the bank, as of December 31, the bank had 366 trillion VND in total asset, up 13.5 percent year-on-year. Its charter capital stood at over 14.5 trillion VND, while some 337 trillion VND in capital was mobilised from individuals and organisations, expanding 13 percent.
The bank’s total outstanding loans were 265 trillion VND, and its credit growth increased by 22 percent compared to the figures at the end of 2018. The credit quality is strictly controlled, with the non-performing loan rate brought sharply to 1.8 percent.
In the last quarter of 2019, SHB bought over 5.7 trillion VND worth of bonds from the Vietnam Asset Management Company (VAMC).
For 2020, the bank has set to continue buying VAMC’s bonds ahead of the maturity, and increase its credit quality with bad debt below 2 percent, thus confirming its position among the top 5 private joint stock commercial banks in Vietnam in terms of scale and market share of business operation.
The bank also aims to fully meet financial criteria in line with Basel II standards as required by the State Bank of Vietnam in the first quarter of 2020. /.
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