RETAIL BANKING | Cesar Tordesillas, Vietnam

HSBC Viet Nam pre-tax profit up 40%

HSBC Viet Nam’s pre-tax profits grew 40 per cent last year to VND1.97 trillion or US$94 million.


Its results announced last week show net operating turnover before loan impairment charges – of less than 1 per cent of loans – was up 44 per cent to VND2.16 trillion or $103 million.

Total assets as of December 31 were up 11 per cent to VND53.32 trillion.

The Vietnamese subsidiary of HSBC, achieved a capital adequacy ratio of 13 per cent against 9 per cent required by the State Bank of Viet Nam.

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