Transactions at a branch of SHB in Hanoi. (Photo: bizlive.vn)Hanoi (VNA) – Sai Gon-HanoiCommercial Joint Stock Bank (SHB) on November 1 posted pre-tax profitof over 1.33 trillion VND (59.1 million USD) in the first nine months of theyear.
This was an increase of69 percent from the same period last year.
The bank said the highprofit was due to its strong growth in services, especially bancassurance.
SHB’s financial reportrevealed that its other important financial criteria saw high growth rate fromthe corresponding period last year and were expected to surpass the set targetfor 2017.
Its total assets reachedmore than 265.3 trillion VND, while capital mobilisation was 212 trillion VND,meeting with 97.55 percent of the whole year’s target. The results have helpedthe bank ensure liquidity, stability and sustainable growth.
Its total outstandingloans were 191.7 trillion VND, up 18 percent from the beginning of the year.Loans were focused on sectors with less risk and prioritised by the Government,such as agriculture, export, processing, manufacturing and hi-tech industries.
The bank’s charteredcapital reached nearly 11.2 trillion VND. The State Bank of Vietnam (SBV)allowed SHB to increase its chartered capital to over 12 trillion VND, whichwas approved at this year’s SHB shareholder meeting.
SHB said it had targetedsafe and sustainable development as its first priority. Its safe indexes havealways met the central bank’s standards.
Its Capital Adequacy Ratioreached 12.15 percent, which was higher than SBV’s stipulation.
SHB expanded its networkthis year to Ha Nam, Ha Tinh, Dak Lak, Binh Dinh and Tay Ninh provinces. Thebank will also open a new representative office in Myanmar toincrease its presence in Southeast Asia.
The bank currently has7,000 employees and 500 transaction points in Vietnam, Laos and Cambodia toserve some four million customers.-VNA
This was an increase of69 percent from the same period last year.
The bank said the highprofit was due to its strong growth in services, especially bancassurance.
SHB’s financial reportrevealed that its other important financial criteria saw high growth rate fromthe corresponding period last year and were expected to surpass the set targetfor 2017.
Its total assets reachedmore than 265.3 trillion VND, while capital mobilisation was 212 trillion VND,meeting with 97.55 percent of the whole year’s target. The results have helpedthe bank ensure liquidity, stability and sustainable growth.
Its total outstandingloans were 191.7 trillion VND, up 18 percent from the beginning of the year.Loans were focused on sectors with less risk and prioritised by the Government,such as agriculture, export, processing, manufacturing and hi-tech industries.
The bank’s charteredcapital reached nearly 11.2 trillion VND. The State Bank of Vietnam (SBV)allowed SHB to increase its chartered capital to over 12 trillion VND, whichwas approved at this year’s SHB shareholder meeting.
SHB said it had targetedsafe and sustainable development as its first priority. Its safe indexes havealways met the central bank’s standards.
Its Capital Adequacy Ratioreached 12.15 percent, which was higher than SBV’s stipulation.
SHB expanded its networkthis year to Ha Nam, Ha Tinh, Dak Lak, Binh Dinh and Tay Ninh provinces. Thebank will also open a new representative office in Myanmar toincrease its presence in Southeast Asia.
The bank currently has7,000 employees and 500 transaction points in Vietnam, Laos and Cambodia toserve some four million customers.-VNA
VNA
