Profits decrease, SHB Bank still 'pocketed' more than 8,500 billion VND

Saigon - Hanoi Commercial Joint Stock Bank ( SHB ) has just announced its financial report for the third quarter of 2023. Accordingly, as of September 30, SHB's total assets were nearly VND 595,700 billion. SHB North is still the region with the largest assets with more than VND 449,000 billion, accounting for nearly 75.4%.

In the first 9 months of 2023, SHB's net interest income reached more than VND 14,373 billion, up 8.6% over the same period in 2022. The bank's pre-tax profit reached more than VND 8,500 billion, down 5.8% over the same period last year.

Although profits have decreased, SHB is still one of the banks with "huge" pre-tax profits compared to banks that have announced their business situation in the third quarter of 2023.

SHB Bank has pre-tax profit of more than VND 8,500 billion in the first 9 months of 2023. (Photo: SHB)

SHB Bank's total outstanding debt as of September 30 was over VND420,500 billion. Of which, the wholesale, retail, auto and motorbike repair industry has the largest outstanding debt at this bank with over VND122,000 billion, accounting for 29% of the total outstanding debt. Next is the outstanding debt of real estate business with over VND67,600 billion, accounting for 16% of the total outstanding debt.

In the first 9 months of 2023, SHB's bad debt ratio was more than 3.2%, higher than the same period last year (2.8%).

Currently, the members of the Board of Directors (BOD) of SHB Bank have not had many changes since April 2023.

In addition to Mr. Do Quang Hien as Chairman of the Board of Directors, Mr. Dong Quang Vinh (Mr. Hien's son) continues to hold the position of Vice Chairman of the Board of Directors and Deputy General Director. Mr. Vinh was appointed as Vice Chairman of the Board of Directors of SHB Bank from April 11, 2023, together with Mr. Do Duc Hai.

DAI VIET

Source: https://vtc.vn/loi-nhuan-giam-ngan-hang-shb-van-bo-tui-hon-8-500-ty-dong-ar830464.html