AsemconnectVietnam - Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank, code STB - HOSE) has just announced that it has increased the charter capital by VND300 billion for Saigon Thuong Tin Bank Leasing Company Limited (Sacombank-SBL).

Sacombank-SBL is a subsidiary of Sacombank, operating in the field of capital mobilization and financial leasing activities.
As of the end of June 2024, Sacombank still owns 100% of the charter capital of this company. Sacombank-SBL was established in 2006, with an initial charter capital of VND150 billion. The financial report for the second quarter of 2024 shows that this financial leasing company has a charter capital of VND300 billion. Thus, according to the above announcement, the new charter capital of Sacombank-SBL will be VND600 billion.
In addition, according to the financial report for the second quarter of 2024, Sacombank-SBL achieved pre-tax profit of nearly VND132 billion after 6 months, up 26% over the same period.
By the end of June, the company's total assets were VND5,515 billion, up 5.5% over the beginning of the year. Outstanding loans to customers were VND4,920 billion, up 6%. Sacombank-SBL also mobilized VND4,155 billion from other financial institutions. The company's bad debt balance at the end of the second quarter was VND105 billion, up 55.9% over the beginning of the year. The bad debt ratio is 2.14%.
In addition to Sacombank-SBL, Sacombank currently has 5 other subsidiaries operating in the fields of debt management, remittances, gold, silver, and gems, and banking in Cambodia and Laos.
N.Nga
Source: VITIC/Tinnhanhchungkhoan