Saigon-Hanoi bank targets 1.05tr dong pre tax profit in FY2011

In the fiscal year 2011, Saigon-Hanoi Commercial Joint Stock Bank (SHB) plans to open its branch in Cambodia and credit growth at 19.9 percent (In 2010, its credit growth was 90 percent).

The bank plans to organise its annual general meeting (AGM) on April 21 at Melia Hotel, Hanoi to pass this year’s business targets with total assets at 75 trillion dong, up 47 percent year-on-year, total deposits at 42.5 trillion dong, up 36.3 percent y-o-y, and total outstanding loans at 29.23 trillion dong, up 19.9 percent y-o-y.

The bank also expects to hike its registered capital to 4.995 trillion dong and the capital adequacy ratio (CAR) at 15-20 percent.

SHB’s pre tax profit is expected at 1.05 trillion dong in 2011, up 60 percent from 2010′s and dividend payment at 14 percent on average chartered capital (4.496 trillion dong).

Also in 2011, SHB will open more 15 branches and 88 transaction sites in the domestic market together with one branch in Cambodia.

In 2010, SHB’s total assets reached 51.03 trillion dong, rising 86 percent from 2009′s, chartered capital at 4.397 trillion dong, total deposits at 45.03 trillion dong, up 82.7 percent y-o-y, total outstanding loans at 24.375 trillion dong, growing 90 percent y-o-y.

Also in 2010, the bank’s non-performing loans (NPL) accounted for 1.4 percent of the total outstanding loans, the CAR at 13.81 percent.

The bank’s after tax profit was 656.7 billion dong in 2010, increasing 241.5 billion dong or 58.2 percent year-on-year, equalling to 101 percent of the year’s profit plan.

Tags: Saigon-Hanoi Bank