HSBC Vietnam Bank Limited has just released its audited financial report in 2018 with record high pre-tax profit of 3.096 trillion dong, up by 39 percent over the previous year.
The credit segment continued to be the bank’s core business when bringing 3.473 trillion dong of net interest income, up by 27 percent. Meanwhile, the bank attained 782 billion dong of net profit from service segment, up by 17 percent, and 184 billion dong of net profit from investment securities segment, up by six times. For the foreign exchange segment, the bank saw a 10 percent decline in net profit, reaching 671 billion dong.
After deducting operating expenses, HSBC Vietnam’s net profit in 2018 reached 3.156 trillion dong, up by 36 percent compared to 2017. Due to the insignificant provisions for risks of just nearly 60 billion dong, the pre-tax profit of HSBC Vietnam increased by 39 percent to 3.096 trillion dong.
By the end of December 31st 2018, the total assets of HSBC Vietnam reached 100.732 trillion dong, up by 15 percent over the beginning of the year.
Most of the bank’s assets were located in the outstanding credit to customers with 44.703 trillion dong, up by 12 percent and outstanding interbank loans (deposits and loans at other credit institutions) with 33.532 trillion dong, up by 8.4 percent.
Regarding capital source, the equity of HSBC Vietnam by the end of December 31st 2018 reached 12.143 trillion dong, up by 8.6 percent compared to the beginning of the year. The bank’s customer deposits were 85.072 trillion dong, up by 14 percent.
According to HSBC Vietnam, in 2018, the average annual salary of its employee was 439 million dong, equivalent to 36.6 million dong per person per month. If including other incomes, each employee of the bank earned an actual income of about 50.3 million dong per person.
Report of HSBC Vietnam also showed that the ratio of overdue debts in 2018 of the bank was 0.88 percent, and bad debt ratio was 0.44 percent. The bank’s Capital Adequacy Ratio (CAR) was 14 percent.
Notably, the liquidity reserve ratio of HSBC Vietnam was 26 percent, much lower than the 47 percent recorded in 2017.
