Hanoi Building Commercial Joint Stock Bank
(Habubank-HBB) has recently announced its unconsolidated fiscal statement in
the first quarter of 2012 whereby the bank earned the highest profit from
securities investment with 212.2 billion dong, 57 fold increase over the same
period last year.
The
lender suffered a loss of 1.2 billion dong from forex trading activities but
this figure is also a significant improvement in comparison with the loss of
95.3 billion dong of the same period last year from this segment.
However,
lending activities and services that are the bank's key activities saw a strong
decline. The bank's net interest income in Q1/2012 reached 136.4 billion dong,
down 59 percent from the same period last year and profit from services was 4.8
billion dong, down 56 percent on year.
The
lender's operation costs doubled against the same period last year, to hit over
240 billion dong. Of which, spending on salaries and allowance to staff was
nearly 85 billion dong, 2.5 fold increase on year.
Especially,
the bank's credit risk provision spending in Q1/2012 was up to 90 billion dong,
over 21 time increase on year.
According
to the fiscal statement, as of the end of Q1/2012, the bank's total outstanding
loans reached 16.77 trillion dong, down 5.9 percent on year, of which, debts in
categories 3, 4 and 5 accounted for 9.7 percent.
With
fall in many incomes amidst highly surging costs, the bank's after tax profit
in Q1/2012 was 29.3 billion dong, down 76 percent on year.
Till
March 31, the bank's total deposits reached nearly 18.65 trillion dong, down
nearly 1 percent from the end of 2011, chartered capital at 4.05 trillion dong.
However,
at the annual general meeting (AGM) 2012 of Habubank, Nguyen Van Bang, chair of
director board said that Habubank has a debt of Vietnam Shipbuilding Industry
Group (Vinashin) worth nearly four trillion dong.
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