SHB’s profit up 52 pct at 753b dong in 2011

Saigon Hanoi Commercial Joint Stock Bank (SHB) has lately announced its consolidated fiscal statement in 2011 with over 1.896 trillion dong net interest income, up 56 percent from 2010.

The lender gained 218 billion dong and 75.4 billion dong profit from services and other operations, two-fold increase from the pervious year.

However, SHB suffered over 15.8 billion dong loss from securities trading activities and 11.1 billion dong from securities investment.

In 2011, SHB spent over 1.124 trillion dong on business activities and 101 billion dong on its credit risk backup fund.

Thus, totally, in 2011, SHB’s after tax profit was over 753 billion dong, up 52 percent from 2010 and fulfilling 95 percent of the year’s pre tax profit target (1.05 trillion dong).

As of December 31, 2011, the bank’s total assets reached 70.992 trillion dong, up 39 percent from early 2011, total deposits from customers reached 34.785 trillion dong, up 36 percent on year and total outstanding loans at over 29.208 trillion dong, growing 20 percent on year.

The bank’s bad debts ratio was 2.1 percent in 2011.

 

Category: Finance