Customers use SHB services. The bank enjoys a largely positive set of results for Q3. — Photo nguoiduatin.vn

HA NOI (Biz Hub) ― Sai Gon – Ha Noi Bank (SHB) enjoyed a largely positive set of results for the third quarter, with improvements seen across the board since it merged with Habubank in 2012.

In its latest financial report, SHB said it earned VND550 billion (US$26.19 million) net revenues in Q3, up nearly 43 per cent year-on-year. Accumulated revenues for the first nine months increased 17.7 per cent to VND1.63 trillion ($77.62 million).

Net turnover from services rose by 60 per cent year-on-year in Q3 to VND40 billion ($1.9 million), but the nine-month figure declined 10.7 per cent to VND108 billion ($5.14 million).

Foreign currency trading incomes increased seven fold to VND38 billion ($1.8 million) in Q3, and hit VND130 billion ($6.19 million) over the first nine months.

Only securities investments suffered dual losses, slipping VND3 billion ($142,850) in Q3 and VND11.5 billion ($547,620) in three quarters.

Bad debts reached nearly VND5.1 trillion on September 30, representing 7.74 per cent of total outstanding loans – a reduction from 8.5 per cent at the end of 2012.

Better non-performing loan control drove up profits, which reached VND236 billion ($11.24 million) in Q3 and VND540 billion ($25.71 million) for the nine months, according to the SHB.

Habubank merged into SHB on August 7, 2012 following restructuring plans. ― VNS