Commercial bank SHB’s pre-tax profit surges 57 percent in Q2
The Sai Gon-Hanoi Commercial Joint Stock Bank (SHB) enjoyed 817 billion VND (35.2 million USD) in pre-tax profit in the second quarter of the year, up 57 percent year-on-year, the bank has reported.
The Sai Gon-Hanoi Commercial Joint Stock Bank (SHB) enjoyed 817 billion VND (35.2 million USD) in pre-tax profit in the second quarter of the year, up 57 percent year-on-year. (Photo: VNA)Hanoi (VNA) – The Sai Gon-Hanoi Commercial Joint Stock Bank (SHB) enjoyed 817 billion VND (35.2 million USD) in pre-tax profit in the second quarter of the year, up 57 percent year-on-year, the bank has reported.
According to a financial report by the bank, the major lender enjoyed robust business activities during April-June, with net interest income standing at more than 1.74 trillion VND, growing 60 percent against the same period last year. Particularly, profits from services reached nearly 200 billion USD, or four times higher than Q2 in 2018.
As of June 30, the bank had 341.9 trillion VND in total asset, up 5.5 percent from the outset of the year and accounting for 91.6 percent of the yearly plan. Some 270.4 trillion VND in capital was mobilised from individuals and organisations, expanding 11.1 percent.
In the first six months of the year, the SHB gained 1.56 trillion in pre-tax profit, rising 52.7 percent year-on-year, and completing 51 percent of the yearly plan.
A representative from the bank said it is striving to strictly handle bad debts, comply with regulations on debt classification, and improve capacity to hedge against risks.
By the end of last month, the SHB had a charter capital of more than 12 trillion VND, and the figure will rise to 17.57 trillion VND this year. The bank targets over 3 trillion VND in pre-tax profit for the whole year, increasing 46.5 percent from 2018.-VNA
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