HSBC Vietnam shows firm growth in first report
HSBC Vietnam, which upgraded from a
branch into a foreign bank in Vietnam early last year, yesterday
announced strong growth in 2009 despite the global financial crisis,
with all segments turning in profits.
HSBC Vietnam, which upgraded from a
branch into a foreign bank in Vietnam early last year, yesterday
announced strong growth in 2009 despite the global financial crisis,
with all segments turning in profits.
Net operating income before loan impairment charges was 2.4 trillion VND (130 million USD) and profit before tax was 1.02 trillion VND.
Return on shareholders’ equity was 19 percent.
Total assets as of 31 December 2009 was 36.69 trillion VND.
The bank’s capital adequacy ratio was 58 percent compared to the State Bank of Vietnam’s minimum requirement of 8 percent.
It had deposits of 26.35 trillion VND and an advances-to-deposits ratio of 51.3 percent.
Its ratio of short-term funds used for medium – and long-term loans was 6 percent (SBV allows a maximum of 30 percent).
HSBC Vietnam lent 3.9 trillion VND under the subsidised Government stimulus package.
It now has 10 branches and 146 ATMs.
FinanceAsia magazine named the British-registered bank as Best Foreign Bank in Vietnam./.
Net operating income before loan impairment charges was 2.4 trillion VND (130 million USD) and profit before tax was 1.02 trillion VND.
Return on shareholders’ equity was 19 percent.
Total assets as of 31 December 2009 was 36.69 trillion VND.
The bank’s capital adequacy ratio was 58 percent compared to the State Bank of Vietnam’s minimum requirement of 8 percent.
It had deposits of 26.35 trillion VND and an advances-to-deposits ratio of 51.3 percent.
Its ratio of short-term funds used for medium – and long-term loans was 6 percent (SBV allows a maximum of 30 percent).
HSBC Vietnam lent 3.9 trillion VND under the subsidised Government stimulus package.
It now has 10 branches and 146 ATMs.
FinanceAsia magazine named the British-registered bank as Best Foreign Bank in Vietnam./.
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