MSB’s 6-month profit increased 72% thanks to securities

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According to the second-quarter consolidated financial statements, MSB recorded a net interest income of VND 1,084 billion, an increase of 90% over the same period last year. Net interest income from service activities increased by 56% to VND 204 billion.

The sudden increase in trading of investment securities was VND 263.7 billion, while in Q2 / 2019 the loss was VND 27 billion. Net profit from other activities decreased by 15% to VND 208.4 billion.

Operating expenses in the period 665.6 billion (up 83%), net profit before deduction of SHB reached 1,093 billion VND, 67% higher than the second quarter of last year. However, the provision expense increased by 1.5 times to 409 billion dong, dragging the profit before tax by 39% to 684.6 billion dong.

Lợi nhuận trước thuế 6 tháng tăng

6-month profit before tax increased 72%. Photo: MSB.

In the first 6 months, the bank saw a net interest income increase of 68% to 1,978 billion dong, while service income increased by 73% to 325.8 billion dong. The net profit from trading of investment securities was nearly 8 times the same period in 2019, reaching VND 347 billion.

Operating expenses and provision expenses increased by 57% and 88% respectively. The bank ended 6 months with pre-tax profit of VND 974.2 billion, 72% higher than the same period last year, equivalent to 68% of the year plan.

Total assets as of the end of June stood at VND 164,740 billion, an increase of 5% compared to the beginning of the year. Loans to customers stood at VND 70,076 billion, 10% higher than the beginning of the year. Bad debt stood at 1,560 billion dong, up 20% from the beginning of the year, raising the ratio from 2% to 2.22%.

MSB’s investment securities increased by 17% to VND 53,509 billion, including VND 30,188 billion of Government, local authorities and VND 14,282 billion of debt securities issued by other domestic credit institutions.

Customer deposits were VND 83,191 billion, up 3% from the beginning of the year. Issuance of valuable papers decreased by 18%, to VND 8,101 billion.

Source: ndh.vn