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VietNamNews

HSBC Viet Nam sees strong growth

Update: April, 03/2012 - 10:45

HCM CITY — HSBC Viet Nam's pre-tax profits grew 40 per cent last year to VND1.97 trillion (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 ($103 million).

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

The bank, 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. — VNS

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