In the consolidated fiscal statement in the second quarter of 2012, Saigon-Hanoi Commercial Joint Stock Bank (SHB) reported on year net interest income growth at 6 percent to reach 430 billion dong.
Its profit from services, Forex trading, capital contribution and stake purchase declined.
However, SHB gained mutant profit from other activities with 89 billion dong.
So, despite increasing operating costs, SHB still gained 246 billion dong profit before earmarking for the credit risk provision fund. SHB had a provision refund of 54 billion dong while in the same period last year, the lender had to make a provision for nearly eight billion dong.
Its pre tax profit in Q2 was over 300 billion dong, rising 44 percent on year and after tax profit was 223 billion dong, up 41 percent on year.
Cumulatively, in the first six months of this year, SHB’s net interest income was nearly one trillion dong, up 25 percent on year. Its pre tax profit and after tax profit was 601 billion dong and 447 billion dong respectively.
In Jan-Jun, SHB’s credit growth reached 5.26%. As of June 30, the SHB’s bad debt ratio was 2.52%, slightly higher than the ratio of 2.23 percent at the end of 2011.