SCB reports H1 profit of over 380b dong

VNStockNews.com - Saigon Commercial Joint Stock Bank (coded SCB) has announced that it earned pre-tax profit of over 380 billion dong in the first six months of this year, up 18.2% year-on-year. The bank's total asset value is posted at 43.325 trillion dong, increasing 32.55% in comparison with the same period last year.

The average chartered capital of the bank's funds reached 3.537 trillion dong, a rise of 70.75% against last year. The total raising capital in Jan-June was posted at 37.654 trillion dong, and total outstanding loans at 27.073 trillion dong, up 32.16% and 28.36% respectively year-on-year.

At present, SCB has 96 transaction offices and branches all over the country.

The bank expects to earn higher profit in the last six months of this year because the enterprises' capital demands are predicted to increase as the national economy is showing recovery signals and they will push up production and trading activities by the end of the year.

SCB is the first time registering to list on UPCoM in the first phase. But the bank had to delay the listing because SBV to date has not released any detailed guideline on the UPCoM listing of a bank with the foreign ownership ratio of over 20%.