News · CafeF

Deposit certificates prove popular at one bank as its valuable papers balance surges

Sacombank (STB) added 46,270 billion VND in valuable papers during the third quarter, lifting the balance to 85,546 billion VND as of Sept. 30, mostly from deposit certificates with terms of one to five years. Bonds issued to credit institutions also rose to 25,280 billion VND, with issues this quarter carrying yields of 9.5–10% a year. Rising capital costs outpaced lending income, pushing net interest income down 33.6% to 5,228 billion VND, while risk provisions reached 5,729 billion VND, 5.5 times the year-earlier level. Pre-tax profit for the quarter fell 51.9% to 1,757 billion VND, and nine-month pre-tax profit dropped 46.4% to 5,893 billion VND. Total assets passed 1 million billion VND, up 18.5% in the quarter.

Summary written by Upside AI from the original article. Read the source for full details.

Original headline: Chứng chỉ tiền gửi một ngân hàng "đắt khách", số dư giấy tờ có giá tăng vọt

Read the original on CafeF ↗

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