Overcoming a stormy year, commercial banks have reported huge profits for 2020. Bank share prices are standing firmly at high levels. SHB has released its 2020 consolidated financial statements, which shows impressive business results. The outstanding achievement was the settling of the problems related to Habubank, which was admitted into SHB some years ago, thus successfully reducing the bad debt ratio to 1.71 percent. SHB reported pre-tax profit increase of 12.8 percent compared with the year before, reaching VND3.412 trillion and ROE of 15.9 percent. The net interest margin (NIM) was 2.8 percent, up by 0.8 percent compared with 2019. As of the end of 2020, the total assets of the bank had reached VND412.9 trillion, an increase of 13.1 percent over late 2019. Its regulatory capital had reached VND37.277 trillion, stockholder equity VND24.393 trillion and charter capital VND17,557 trillion. An Binh Bank (ABBank) has reported pre-tax profit of VND1.368 trillion for 2020, up by 11.3 percent compared with 2019. The bank put its shares into transactions on UpCom in 2020. The bank saw total assets increasing by 14 percent to VND116.5 trillion by the end of 2020. Thanks to strict measures to control lending, the bad debt ratio was… Read full this story
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