Services
Results from the semi-annual report show that at the end of the first six months, KienlongBank’s total assets reached 91,668 billion VND, an increase of 4,696 billion VND. Customer lending reached 56,184 billion VND, a rise of 5,025 billion VND, and customer deposits stood at 58,387 billion VND, up by 1,490 billion VND compared to the end of 2023.
Compared to the same period last year, the bank’s net interest income for the first six months was 1,531 billion VND, an increase of 491 billion VND. Of this, net income from service activities reached 234 billion VND, a rise of 28 billion VND. Total pre-tax profit was 552 billion VND, up by 150 billion VND, resulting in after-tax profit of 440 billion VND, an increase of 119 billion VND. Based on the profit target approved by the Annual General Meeting of Shareholders in April 2024, KienlongBank has accomplished 69% of its annual plan.
Not only has the bank exceeded its revenue and profit plans, but its tight risk management measures and prudent risk appetite have kept the average non-performing loan ratio in the first six months below 2%, complying with the State Bank of Vietnam’s (SBV) regulations. In parallel, the bank has proactively enhanced its resources and increased its buffer to cover non-performing loans, reducing their impact and enabling flexible responses to potential adverse market scenarios. This has helped maintain stable and sustainable growth.
To achieve these positive business results, KienlongBank has strictly adhered to the SBV’s monetary policy directives and enhanced employee benefits and income. The bank has created an ideal working environment, attracting and training high-quality personnel. Additionally, it has expanded its business scale by investing in information technology infrastructure and launching innovative digital products and services based on the new Core Banking and Core Card platforms. These initiatives cater to the diverse needs of various customer segments and account for a significant portion of the bank’s total operating expenses for the first six months.
Continuing its sustainable development orientation and commitment to meeting customers’ regular needs, KienlongBank will install over 100 new-generation self-transaction machines (STMs) nationwide. This will provide customers with more convenient transactions and minimize over-the-counter operations.
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Recognizing its efforts and achievements, KienlongBank has been nominated and honored with prestigious awards in the first half of 2024, including Top 500 Fastest Growing Enterprises in Vietnam, Top 10 Innovative and Efficient Businesses, and Best Companies to Work for in Vietnam.
As KienlongBank approaches its 29th anniversary and continues its journey of connecting values, it will further promote the digitization of its products and expand its network of partnerships. The bank aims to become a modern and friendly digital bank by 2025.
SHB achieves excellent cost control with a CIR of only 23% in 2023, with profits exceeding 9,200 billion VND.
Saigon – Hanoi Bank (SHB) has recently released its consolidated financial report for the year 2023, showcasing stable business growth and strong safety indicators amidst a challenging market.
