Hiking service revenue helps boost major joint-stock bank’s profits hinh anh 1(Illustrative photo: VNA)
Hanoi (VNA) – The join-stock bank Sacombank has said its last year’s pre-tax profits amounted to 3.217 trillion VND (about 139 million USD), 21.4 percent higher than its plan for the year.

In its latest financial report, the bank attributed this to the considerable contribution by the service revenue which made up 23 percent of the bank’s total net income and rose 23.9 percent over the figure a year earlier.

The bank’s total asset on the last day of the last year was valued at 4453.6 trillion VND while its bad debts were reduced to 1.93 percent from 2.2 percent at the end of 2018.

As for e-banking activities, the number of the users of Sacombank’s services rose by nearly 40 percent to 1.9 million. A prominent point is that the bank started applying Basel II to its operation from the first day of this year in line with the roadmap by the central bank on the safety rate of capital.

For this year, Sacombank has set the targets of increasing its business efficiency, expanding its scale and market share, improving financial indexes, strongly dealing with bad debts and tightly controlling credit quality, accelerating the restructuring its apparatus, and improving the personnel quality as well as the working environment./.