Military Commercial Joint Stock Bank (MB, HoSE: MBB) has just released its separate financial statement in the third quarter (Q3) of 2019 with pre-tax profit reaching up to 2.780 trillion dong, up by 39 percent over the same period of last year.
Credit continued to be the bank’s main contribution with 3.734 trillion dong of net interest income in Q3, up by 16.3 percent over the same period of last year. Meanwhile, the bank’s service and foreign exchange segments respectively brought about 368 billion dong and 193 billion dong of net profit, up by 38 percent and 50 percent, respectively.
The business of securities trading, securities investment, capital contribution, and long-term investment recorded a net profit of 160 billion dong in the quarter, far better than the net loss of 48.2 billion dong MB recorded in the same quarter last year.
Notably, MB attained up to 887 billion dong of net profit from other business activities, up by 2.5 times. Most of the net profit from this segment came from the settled bad debts. In addition, the income from capital contribution and share purchased of MB was also high in Q3 2019 with 233 billion dong, compared to the 33 billion dong of Q3 2018, mainly contributed by the income of MB’s subsidiaries.
Closing the quarter, MB recorded a net profit of 3.610 trillion dong, up by 41 percent over the same period of last year. After deducting risk provisioning expenses, the bank’s pre-tax profit was 2.780 trillion dong, up by 39 percent. In the first nine months of 2019, MB’s pre-tax profit reached 7.086 trillion dong, up by 29 percent compared to the same period of last year.
By the end of September 30th 2019, the total assets of MB stood at 385.515 trillion dong, up by 9.4 percent over the same period of 2019. In particular, the bank’s outstanding loans were 230.142 trillion dong, up by 11.2 percent. Its bad debt ratio was 1.35 percent. MB’s equity by the end of September 30th 2019 reached 35.235 trillion dong, up by 9.4 percent compared to the beginning of the year. The bank’s customer deposits were recorded at 255.627 trillion dong, up by 6.2 percent, in which non-term deposits accounted for 28 percent.
