Sacombank settles over VND2.52 trillion deep debt

Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) yesterday said that it handled VND2,520 billion(US$111 million) of bad debt and set aside VND5,044 billion ($222 million) for credit risk provision in the first seven months this year.

 (Photo: Sacombank)

(Photo: Sacombank)

The bank’s growth was stable and satisfactory in the first seven months, it said.
Pre-tax profit of Sacombank in July was VND175 billion, taking seven months’ number to VND754 billion ($33.17 million). It might top VND1 trillion at the end of this year.

By NHUNG NGUYEN – Translated by Hai Mien

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