A Saigon-Hanoi Commercial Joint Stock Bank (SHB) office. Photo dientungaynay.vn/VIET NAM NEWS
Vietnam-based financial institution Saigon-Hanoi Commercial JSC (SHB) has filed to list more than 1.75 billion shares on the Ho Chi Minh Stock Exchange (HoSE).
If approved, the bank will succeed in moving its shares to the country’s southern bourse from the Hanoi Stock Exchange (HNX).
SHB’s share price jumped 500 dong (2.2 US cents) or 3.45 per cent to close at 15,000 dong ($0.65) on Monday for a market capitalisation of 25.45 trillion dong, with 6.37 million shares traded.
In the first six months of this year, SHB recorded a 34.3 per cent annual gain in net revenue, which reached 4.12 trillion dong.
Net revenue from banking services dropped 35 per cent year-on-year to 206 billion dong while operating expense was up 16.7 per cent year-on-year to 1.92 trillion dong.
In the first six-month period, the bank earned 1.66 trillion dong and 1.33 trillion dong worth of pre-tax and post-tax profit, which were nearly unchanged from last year’s figures.
After six months, SHB fulfilled 50.8 per cent of its pre-tax profit target, worth 3.27 trillion dong, set for this year.
On June 30, total assets of the bank increased by 7.1 per cent from last year to more than 391.3 trillion dong.
Total lending was up eight per cent from 2019’s total to 287.4 trillion dong. A majority of the figure was used to fund businesses and households to cope with Covid-19 pandemic’s impact.
SHB entered the Cambodian financial market in March 2017 through its wholly-owned subsidiary Saigon-Hanoi Bank Cambodia Plc (SHB Cambodia).
Last year, SHB Cambodia posted 1.239 trillion riel ($310 million) in total assets, up 6.06 per cent from 1.169 trillion in 2018, data from the National Bank of Cambodia (NBC) show.
It logged 39.107 billion riel in gross operating income (up 8.02 per cent), 27.657 billion riel in net profit (up 111.77 per cent), 109.231 billion riel in deposits (down 34.37 per cent) and 1.061 trillion riel in loans (up 8.68 per cent).
In 2017, the NBC and US-based International Data Group Inc honoured it as an outstanding small-and-medium sized enterprise (SME).
After four years of operation, the bank has reported stable business results, contributing to the cooperation between Vietnam and Cambodia in the economic sector, and creating an investment wave into the Kingdom by Vietnamese firms, SHB Cambodia director Pham Xuan Son said then.
VIET NAM NEWS/ASIA NEWS NETWORK
