bank, bank profit, HSBC Vietnam, Shinhan Vietnam

In the first six months of this year, HSBC and Shinhan Vietnam recorded profits in the trillions of dong, showing strong growth compared to the same period last year.

HSBC Vietnam announced its financial report for the first six months of the year, reporting a net profit of VND 2,650 billion, 2.4 times higher than the same period last year.

This foreign bank's outstanding loan balance increased by only 1% compared to the beginning of the year, but net interest income reached VND 4,000 billion, 2.5 times higher than the same period in 2022. Net income from services also increased significantly by 8% to VND 433 billion. However, the foreign exchange business performed worse, with profits from this activity decreasing by 40% to VND 372 billion.

As of the end of June, HSBC's non-performing loan ratio was 0.17%, a slight increase from 0.13% at the beginning of the year. The bank's total assets at the end of the second quarter were VND 190,290 billion, a 4% decrease compared to the beginning of the year due to a reduction in investment securities and deposits at other banks.

Shinhan Bank Vietnam also recorded after-tax profit in the first half of this year that was 1.5 times higher than the same period in 2022, reaching nearly 2,400 billion VND.

While the bank did not release detailed financial reports, with strong profit growth, Shinhan Bank's return on equity increased from 14.7% at the beginning of the year to over 17% at the end of the second quarter.

Two foreign banks recorded strong profit growth in the first half of the year, in contrast to the overall picture of domestic banks which saw stagnant profits.

HSBC and Shinhan Vietnam's profits are currently comparable to those of some domestic banks such as TPBank or MSB.

Quynh Trang

Source link: https://vnexpress.net/hai-ngan-hang-ngoai-lai-lon-tai-viet-nam-4649168.html