The bank achieved robust credit and funding growth, exceeding the industry average, along with improved asset quality and a strong, secure balance sheet.
According to experts, the prosperity of the banking industry in the period came from many supporting factors, including favourable policies to credit growth.
SHB achieved pre-tax profit of nearly VND5.9 trillion (US$253.4 million) in the first half of the year, posting an 84 per cent year-on-year increase and meeting 50 per cent of the annual target.
The company reported a significant increase of 113 per cent year-on-year in pre-tax profit in the period, owing to the rapid recovery of passenger transport and the ever-growing cargo business, which grew by 76 per cent and 94 per cent, respectively.
Sacombank has released its consolidated financial statements for the second quarter, with profit before tax going up by more than 10 per cent from the same period last year to VND441 billion (US$19 million).
The HCM City Development Joint Stock Commercial Bank (HOSE: HDB) has just released its audited financial statements for 2019, which show pre-tax profit increased by 25.3 per cent to VND5.018 trillion (US$215.45 million), its highest ever.
SSI Securities Corporation achieved consolidated revenues of VND3.3 trillion (US$142.8 million) last year, or 112 per cent of the target it had set, and its pre-tax profit target of VND1.01 trillion ($43.7 million).
Viet Nam Prosperity Joint Stock Bank (VPBank) announced a record 2019 consolidated pre-tax profit of VND10.3 trillion (US$445 million), exceeding 9 per cent of the yearly plan and up 12.3 per cent compared to 2018.
Vietnam Airlines Corporation recorded revenue and pre-tax profit of nearly VND102 trillion (US$4.39 billion) and VND3.37 trillion ($146 million) this year, respectively, marking the firm’s highest ever earnings.
An Binh Commercial Joint Stock Bank (ABBANK) expects to achieve VND1.22 trillion (US$52.4 million) in pre-tax profits this year, a 30 per cent increase from last year.
Sacombank’s consolidated pre-tax profit is expected to reach nearly VND3.2 trillion (US$138.05 million) this year, surpassing 20 per cent of the profit target approved at its annual general meeting.