AsemconnectVietnam - Saigon Thuong Tin Commercial Joint Stock Bank - Sacombank (STB stock code: HOSE) said that the Bank's consolidated pre-tax profit in 2023 is estimated to reach more than VND9,500 billion, an increase of 50% over the previous year and reaching 100% of the plan. The General Meeting of Shareholders assigned.

According to Sacombank, in the context of a global economic slowdown, stability and sustainability have become the goals of many businesses. In line with market trends, the Bank has devoted many resources to promoting core business areas and constantly improving products and services to diversify revenue sources.
Thanks to that, by the end of 2023, total assets are estimated to reach nearly VND664,000 billion, of which profitable assets account for 90.3%. Total mobilization is estimated at more than VND574,000 billion; Loans are estimated at more than VND487,000 billion and Sacombank's consolidated pre-tax profit in 2023 is estimated at more than VND9,500 billion, an increase of 50% compared to the previous year and reaching 100% of the plan assigned by the General Meeting of Shareholders. The bad debt ratio is controlled at 2%.
Debt collection and settlement work has been drastically implemented. It is estimated that nearly VND7,000 billion of bad debts and outstanding assets have been successfully handled, bringing the total accumulated recovery to nearly VND95,000 billion.
Operational safety ratios and financial indicators are balanced between safety and efficiency goals: CAR ratio is estimated at 9.45%, LDR ratio is estimated at 83%, NIM ratio is estimated at 3.88 %, the ROA and ROE indicators are estimated at 1.21% and 18.03%, respectively, an increase of 0.3 and 4.2%. Sacombank has made a 100% provision for the entire remaining outstanding debt and assets portfolio that has not been processed, thereby approaching the completion of financial obligations under the Project.
N.Nga
Source: VITIC/Tinnhanhchungkhoan