HBB: Consolidated Net Profit Falls 19% to VND303Bln in Jan-Sep

The bank’s net interest income rose 7% to VND555.9 billion in the period from VND517.8 billion over the same period of last year.

In Q3/2011, HBB posted VND90 billion consolidated net profit on VND212.1 billion net interest income, down 31.4% and up slightly from VND131.6 billion and VND211 billion a year earlier, respectively.

The financial statements showed that the listed lender’s profit mainly came from disposal of securities investments with VND49.1 billion in Q3/2011, down 25% on-year and VND378.5 billion in January-September, up 90% on-year.

Habubank posted a loss of VND86.2 billion in forex trading in January-September compared to a loss of VND2 billion a year ago, including VND11.9 billion loss in the third quarter. It spent VND136.2 billion for credit risk provision in the first nine months of this year, including VND22.2 billion in Q3.

The bank had total assets of VND47.8 trillion at the end of quarter, against VND38 trillion at the beginning of this year.

On December 2, HBB closed flat at VND5,400/share; P/E at 5.03x, the StoxPlus data showed.