Hiking service revenue helps boost major joint-stock bank’s profits
The join-stock bank Sacombank has said its last year’s pre-tax profits amounted to 3.217 trillion VND (about 139 million USD), 21.4 percent higher than its plan for the year.
Hanoi (VNA) – The join-stock bank Sacombank has saidits last year’s pre-tax profits amounted to 3.217 trillion VND (about 139million USD), 21.4 percent higher than its plan for the year.
In its latest financial report, the bank attributed this tothe considerable contribution by the service revenue which made up 23 percentof the bank’s total net income and rose 23.9 percent over the figure a yearearlier.
The bank’s total asset on the last day of the last year wasvalued at 4453.6 trillion VND while its bad debts were reduced to 1.93 percentfrom 2.2 percent at the end of 2018.
As for e-banking activities, the number of the users of Sacombank’sservices rose by nearly 40 percent to 1.9 million. A prominent point is thatthe bank started applying Basel II to its operation from the first day of thisyear in line with the roadmap by the central bank on the safety rate ofcapital.
For this year, Sacombank has set the targets of increasing itsbusiness efficiency, expanding its scale and market share, improving financialindexes, strongly dealing with bad debts and tightly controlling credit quality,accelerating the restructuring its apparatus, and improving the personnelquality as well as the working environment./.
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(Illustrative photo: VNA) 
