Shinhan Bank profits over 2,500 billion VND in the first 6 months of 2024

Shinhan Bank Vietnam Limited (Shinhan Bank) has just announced periodic information on its financial situation for the first 6 months of 2024.

Accordingly, at the end of the first half of 2024, the bank recorded an 8.5% increase in equity compared to the end of 2023 to nearly VND 32,271 billion.

Shinhan Bank reported pre-tax profit of VND2,534 billion, up 5.94% compared to the profit in the same period last year of nearly VND2,392 billion. Previously, at the end of 2023, the bank recorded a 22% increase in after-tax profit compared to the previous year to nearly VND4,525 billion.

Shinhan Bank's return on equity (ROE) also increased from 15.2% at the end of 2023 to 15.7%.

However, the bank's debt/equity ratio increased from 4.64 times to 5.34 times, equivalent to debt increasing from VND 138,026 billion to about VND 172,327 billion.

In addition, Shinhan Bank's bond debt/equity ratio also increased from 0.09 times last year to 0.22 times, equivalent to a bond debt balance of nearly VND 7,100 billion.

Regarding the payment of principal and interest on bonds, according to the latest data published on the Hanoi Stock Exchange, in the first half of 2024, Shinhan Bank spent nearly VND 113 billion to pay interest and VND 2,800 billion to pay principal on bonds.

In 2024, Shinhan Bank mobilized a total of 7 bond lots with a total value of 7,000 billion VND. Of which, the most recent is the bond lot coded SBVCL2426007 with a value of 1,000 billion VND issued on June 17, 2024, with a term of 2 years, expected to mature in 2026. The issuance interest rate is 5.4%/year.

Introduced on its website, Shinhan Vietnam is a bank under Shinhan Bank Korea - a member of Shinhan Financial Group.

Shinhan Bank Korea is present in 20 countries with a network of 168 branches/transaction offices.

In Southeast Asia alone, Shinhan Bank of Korea is operating in the following markets: Vietnam, Indonesia, Singapore, Philippines, Myanmar, Cambodia.

Since 1993, Shinhan Bank Vietnam has had a commercial representation in Vietnam in the form of the first representative office in Ho Chi Minh City.

The bank offers a diverse portfolio of products and financial solutions for both individual and corporate customers. As of 2022, Shinhan Bank has 43 branches and transaction offices nationwide.

Source: https://www.nguoiduatin.vn/shinhan-bank-lai-hon-2500-ty-dong-trong-6-thang-dau-nam-2024-204240829182145643.htm