Wednesday, May 27, 2020 2:56:21 AM - Markets open
VN-INDEX 869.13 +10.09/+1.17%
HNX-INDEX 110.49 +1.35/+1.23%
UPCOM-INDEX 55.33 +0.39/+0.71%
STB: Sacombank vows to finish settling bad debts in five years - 4/21/2018 9:11:25 AM
 (0 ratings. You must sign in to rate.)
The Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) has pledged to finish settling all of the 100 trillion VND (4.38 billion USD) of its bad debts in five years, instead of 10 years as stated in the restructuring plan approved by the State Bank of Vietnam.
At the annual shareholders’ meeting in Ho Chi Minh City on April 20, Chairman of Sacombank’s board of directors Duong Cong Minh said the bank has handled nearly 20 trillion VND (876 million USD) of the bad debts so far.
Over the last couple of years, Sacombank did not give dividend payments to its shareholders because it was being restructured and had to increase provisions, he said, noting that it is speeding up restructuring and expects this process will finish in three years in minimum and five years in maximum.
If this process is smooth, Sacombank is able to pay dividends to its shareholders in 2018 or 2019, with the central bank’s approval, he added.
Sacombank reports that its combined assets were worth about 368.45 trillion VND (16.14 billion USD) at the end of 2017, up 11 percent from the year’s beginning. The bank posted an 11-percent rise in capital mobilisation to some 338.43 trillion VND (14.82 billion USD) and a 12.5-percent increase in credit outstanding balance to around 225.59 trillion VND (9.88 billion USD). The ratio of non-performing loans was 4.59 percent.
The bank plans to cut the bad debt ratio to under 3 percent and continue to shorten the restructuring road map in the time ahead.
In 2018, it targets total assets at 430.9 trillion VND (18.87 billion USD), mobilised capital at 399.5 trillion VND (17.5 billion USD), credit outstanding balance at 255.2 trillion VND (11.18 billion USD), and pre-tax profit at nearly 1.84 trillion VND (80.59 million USD).-VNA
Read original article here
Newer News
26/05 CET: Notice of transaction of connected person (Mr. Pham Tran Thanh Nam)
26/05 PAI: Change in personnel
26/05 VIX: Change in personnel
26/05 TCL: Change of personnel
26/05 PDN: Board resolution _ No 38, 39
26/05 PGC: Resolution on the AGM 2020
26/05 BT1: Notice of the Annual General Meeting of Shareholders 2020
26/05 BHT: Change in personnel
26/05 BBT: Notice of transaction of connected person (Nguyen Quoc Viet)
26/05 WSB: Notice of record date for a ballot
Older News
17/04 Vinasun cuts revenue forecast
17/04 TAC increases dividend by half to 24 per cent
16/04 VTVCab cancels IPO after few investors show interest
12/04 VGC: Viglacera plans to reduce State ownership to 36%
12/04 HVN: Ministry to auction Vietnam Airlines’ share purchase rights
12/04 Vissan targets 18 per cent pre-tax revenue increase
12/04 Banks fulfill 25-30 percent of profit goal
11/04 HPG: Hoa Phat steel grows 10 percent in Q1
10/04 SBT to buy back 83.5 million shares
10/04 Vingroup enters pharmaceutical industry
Newsletter Signup
Top Stories
Reference exchange rate down 5 VND on March 26
Reference exchange rate up 5 VND on March 18
Shares tumble over WHO declaration of COVID-19 pandemic
Tight co-ordination needed to ensure EVFTA benefits
VN shares mixed, but growth expected to return
Market Update
Last updated at 3:10:03 PM
VN-INDEX 869.13 +10.09/+1.17%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.