SHB opens third Cambodia branch

Monday, Nov 17, 2014 17:11

Transactions at SHB. The bank has opened a new branch in Cambodia. — Photo Infonet

HA NOI (Biz Hub) ─ The Sai Gon – Ha Noi Bank (SHB) has opened a new branch in the Cambodian capital, Phnom Penh.

The unit is named Toul Pouk and is the third branch of SHB in Cambodia. The bank's general director Nguyen Van Le told Thoi bao Ngan hang (The Banking Times) that the establishment is part of its strategy to expand its system abroad and enhance its position in the domestic financial market.

The bank announced last week that it attracted a total deposit of VND139.41 trillion (US$6.64 billion) in the first nine month of this year, up 8.2 per cent over last year. Its outstanding loans totalled nearly VND96.10 trillion ($4.58 billion) in the period, increasing 25 per cent over last year.

Its bad debt ratio fell to 2.4 per cent on September 30, 2014 from 4.06 per cent at the end of 2013. The accumulative profit attained in nine months was VND740.95 billion ($35.28 million), an increase of 3.6 per cent over the same period last year.

Four other Vietnamese banks have operations in Cambodia, including BIDV, Sacombank, Agribank and MB. ─ VNS

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