Sacombank

Sacombank's net interest margin fell 23.6% yoy to 1.59% in 4Q2019

By Helgi Analytics - March 1, 2020

Sacombank's net interest margin amounted to 1.59% in the fourth quarter of 2019, down from 2.63% when compared to the previous q...

Sacombank's npls (as % of loans) fell 9.01% yoy to 1.94% in 4Q2019

By Helgi Analytics - March 4, 2020

Sacombank's non-performing loans reached 1.94% of total loans at the end of 2019-12-31, down from 2.13% compared to the previous ...

Sacombank's net profit fell 33.4% yoy to VND 532 bil in 4Q2019

By Helgi Analytics - March 1, 2020

Sacombank made a net profit of VND 532 bil in the fourth quarter of 2019, down 33.4% when compared to the same period of last yea...

Profit Statement 2017 2018 2019
Net Interest Income VND bil 5,294 7,637 9,210
Net Fee Income VND bil 2,624 2,682 3,323
Other Income VND bil 1,545 2,278 3,077
Total Revenues VND bil 9,463 12,597 15,610
Staff Cost VND bil 4,109 4,832 5,466
Operating Profit VND bil 3,117 4,740 6,280
Provisions VND bil 817 1,592 2,153
Net Profit VND bil 1,176 1,639 1,998
Balance Sheet 2017 2018 2019
Interbank Loans VND bil 7,373 4,822 13,151
Customer Loans VND bil 220,198 253,100 292,059
Debt Securities VND bil 74,060 76,202 77,025
Total Assets VND bil 368,469 406,041 453,581
Shareholders' Equity VND bil 23,236 24,632 26,742
Interbank Borrowing VND bil 11,848 11,849 3,225
Customer Deposits VND bil 319,860 357,455 400,844
Issued Debt Securities VND bil 6,725 832 10,116
Ratios 2017 2018 2019
ROE % 5.18 6.85 7.78
ROA % 0.336 0.423 0.465
Costs (As % Of Assets) % 1.81 2.03 2.17
Costs (As % Of Income) % 67.1 62.4 59.8
Capital Adequacy Ratio % 11.3 ... ...
Net Interest Margin % 1.51 1.97 2.14
Loans (As % Of Deposits) % 68.8 70.8 72.9
NPLs (As % Of Loans) % 4.67 2.13 1.94
Provisions (As % Of NPLs) % 26.4 64.5 69.3
Valuation 2017 2018 2019
Market Capitalisation (End Of Period) USD mil 1,021 929 782
Share Price (End Of Period) VND 12,850 11,950 10,050
Price/Earnings (P/E) 23.3 17.2 9.07
Price/Book Value (P/BV) 0.997 0.875 0.678
Dividend Yield % 0 0 ...
Earnings Per Share (EPS) VND 552 696 1,108
Book Value Per Share VND 12,883 13,657 14,826
Dividend Per Share VND 0 0 ...

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summary Unit 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
income statement                              
Net Interest Income VND bil                 6,800 6,619 6,588 4,053 5,294    
Total Revenues VND bil                 8,125 8,804 8,878 7,224 9,463    
Operating Profit VND bil                 3,884 4,284 3,704 1,535 3,117    
Net Profit VND bil                 2,229 2,206 648 88.6 1,176    
balance sheet                              
Interbank Loans VND bil                 7,470 3,630 2,208 2,484 7,373    
Customer Loans VND bil                 109,214 126,646 183,660 196,428 220,198    
Debt Securities VND bil                 22,864 33,873 40,368 66,395 74,060    
Total Assets VND bil                 161,378 189,803 292,033 332,023 368,469    
Shareholders' Equity VND bil                 17,064 18,063 22,081 22,192 23,236    
Interbank Borrowing VND bil                 5,751 4,424 2,689 11,407 11,848    
Customer Deposits VND bil                 132,146 163,058 260,995 291,653 319,860    
Issued Debt Securities VND bil                 3,662 1,102 2,059 1,882 6,725    
ratios                              
ROE % ...               14.5 12.6 3.23 0.400 5.18    
ROA % ...               1.42 1.26 0.269 0.028 0.336    
Costs (As % Of Assets) % ...               2.71 2.57 2.15 1.82 1.81    
Costs (As % Of Income) %                 52.2 51.3 58.3 78.8 67.1    
Capital Adequacy Ratio % ... ... ... ... ...       10.2 9.87 9.51 9.61 11.3 ... ...
Net Interest Margin % ...               4.34 3.77 2.73 1.30 1.51    
Interest Income (As % Of Revenues) %                 83.7 75.2 74.2 56.1 56.0    
Fee Income (As % Of Revenues) %                 11.7 10.8 13.2 19.8 27.7    
Staff Cost (As % Of Total Cost) %       ... ...       53.0 57.0 55.2 54.7 64.7    
Equity (As % Of Assets) %                 10.6 9.52 7.56 6.68 6.31    
Loans (As % Of Deposits) %                 82.6 77.7 70.4 67.3 68.8    
Loans (As % Assets) %                 67.7 66.7 62.9 59.2 59.8    
NPLs (As % Of Loans) %                 1.46 1.19 5.80 6.91 4.67    
Provisions (As % Of NPLs) %                 84.0 89.9 20.9 17.7 26.4    
valuation                              
Market Capitalisation (End Of Period) USD mil ...               932 962 1,051 749 1,021    
Number Of Shares (Average) mil ... ... ...     ...     1,462 1,623 1,459 1,804 1,804    
Share Price (End Of Period) VND ...               13,231 13,846 13,100 9,450 12,850    
Earnings Per Share (EPS) VND ... ... ...     ...     1,525 1,360 444 49.1 552    
Book Value Per Share VND ... ... ...     ...     11,674 11,132 15,139 12,304 12,883    
Dividend Per Share VND ... ...             615 ... 0 0 0   ...
Price/Earnings (P/E) ... ... ...     ...     8.68 10.2 29.5 192 23.3    
Price/Book Value (P/BV) ... ... ...     ...     1.13 1.24 0.865 0.768 0.997    
Dividend Yield % ... ...             4.65 ... 0 0 0   ...
Earnings Per Share Growth % ... ... ... ...   ... ...   120 -10.8 -67.3 -88.9 1,023    
Book Value Per Share Growth % ... ... ... ...   ... ...   23.0 -4.64 36.0 -18.7 4.71    
income statement Unit 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
income statement                              
Interest Income VND bil                 16,467 15,251 15,906 17,901 21,551    
Interest Cost VND bil                 9,667 8,631 9,318 13,848 16,256    
Net Interest Income VND bil                 6,800 6,619 6,588 4,053 5,294    
Net Fee Income VND bil                 948 948 1,171 1,430 2,624    
Other Income VND bil                 377 1,236 1,119 1,741 1,545    
Total Revenues VND bil                 8,125 8,804 8,878 7,224 9,463    
Staff Cost VND bil       ... ...       2,246 2,578 2,858 3,111 4,109    
Depreciation VND bil ... ... ... ... ... ... ... ... 288 288 333 392 381   ...
Other Cost VND bil ... ... ... ... ... ... ... ... 1,707 1,654 1,984 2,186 1,855   ...
Operating Cost VND bil                 4,241 4,520 5,175 5,689 6,345    
Operating Profit VND bil                 3,884 4,284 3,704 1,535 3,117    
Provisions VND bil                 435 963 2,256 696 817    
Extra and Other Cost VND bil                 488 495 570 683 815    
Pre-Tax Profit VND bil                 2,961 2,826 878 156 1,485    
Tax VND bil                 732 620 230 67.0 309    
Minorities VND bil       ... ...     ... -0.003 -0.004 0 0 0    
Net Profit VND bil                 2,229 2,206 648 88.6 1,176    
Dividends VND bil ... ...             914 ... 0 0 0   ...
growth rates                              
Net Interest Income Growth % ...               6.02 -2.66 -0.474 -38.5 30.6    
Net Fee Income Growth % ...               38.1 0.062 23.5 22.1 83.5    
Total Revenue Growth % ...               6.40 8.36 0.846 -18.6 31.0    
Operating Cost Growth % ...               -2.07 6.56 14.5 9.94 11.5    
Operating Profit Growth % ...               17.5 10.3 -13.6 -58.6 103    
Pre-Tax Profit Growth % ...               116 -4.54 -68.9 -82.3 855    
Net Profit Growth % ...               122 -1.02 -70.6 -86.3 1,228    
market share                              
Market Share in Revenues % ... ... ...           4.60 4.76 4.26 3.03 ... ... ...
Market Share in Net Profit % ... ... ...           7.42 12.9 2.08 0.215 ... ... ...
balance sheet Unit 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
balance sheet                              
Cash VND bil                 7,529 9,106 14,084 14,827 9,215    
Interbank Loans VND bil                 7,470 3,630 2,208 2,484 7,373    
Customer Loans VND bil                 109,214 126,646 183,660 196,428 220,198    
Retail Loans VND bil       ... ...     ... 44,010 56,976 89,681 104,075 130,864   ...
Corporate Loans VND bil       ... ...     ... 66,355 70,764 95,604 94,251 91,244   ...
Debt Securities VND bil                 22,864 33,873 40,368 66,395 74,060    
Fixed Assets VND bil                 5,119 5,051 7,763 7,756 7,911    
Intangible Assets VND bil                 205 163 204 193 190    
Goodwill VND bil ... ... ...     ...     17.2 15.1 0 0 0    
Total Assets VND bil                 161,378 189,803 292,033 332,023 368,469    
Shareholders' Equity VND bil                 17,064 18,063 22,081 22,192 23,236    
Of Which Minority Interest VND bil                 0.008 0.004 0 0 0    
Liabilities VND bil                 144,314 171,739 269,952 309,831 345,233    
Interbank Borrowing VND bil                 5,751 4,424 2,689 11,407 11,848    
Customer Deposits VND bil                 132,146 163,058 260,995 291,653 319,860    
Sight Deposits VND bil                 18,196 24,333 33,216 38,585 44,371    
Term Deposits VND bil                 113,108 137,901 227,024 252,335 274,534    
Issued Debt Securities VND bil                 3,662 1,102 2,059 1,882 6,725    
Other Liabilities VND bil                 2,756 3,155 4,210 4,889 6,800    
asset quality                              
Non-Performing Loans VND bil                 1,610 1,523 10,778 13,745 10,405    
Gross Loans VND bil                 110,566 128,015 185,917 198,860 222,947    
Total Provisions VND bil                 1,352 1,369 2,257 2,432 2,749    
growth rates                              
Customer Loan Growth % ...               15.1 16.0 45.0 6.95 12.1    
Retail Loan Growth % ...     ... ... ...   ... ... 29.5 57.4 16.1 25.7   ...
Corporate Loan Growth % ...     ... ... ...   ... ... 6.65 35.1 -1.42 -3.19   ...
Total Asset Growth % ...               6.09 17.6 53.9 13.7 11.0    
Shareholders' Equity Growth % ...               24.6 5.86 22.2 0.505 4.71    
Customer Deposit Growth % ...               23.0 23.4 60.1 11.7 9.67    
market share                              
Market Share in Customer Loans %                 3.63 3.79 4.57 4.06 3.81 ... ...
Market Share in Corporate Loans % ... ... ... ... ... ... ... ... 2.20 2.12 2.38 1.95 ... ... ...
Market Share in Total Assets %                 2.95 3.15 4.18 4.09 3.81 ... ...
Market Share in Customer Deposits %                 3.58 3.81 5.17 4.91 4.70 ... ...
ratios Unit 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
ratios                              
ROE % ...               14.5 12.6 3.23 0.400 5.18    
ROA % ...               1.42 1.26 0.269 0.028 0.336    
Costs (As % Of Assets) % ...               2.71 2.57 2.15 1.82 1.81    
Costs (As % Of Income) %                 52.2 51.3 58.3 78.8 67.1    
Capital Adequacy Ratio % ... ... ... ... ...       10.2 9.87 9.51 9.61 11.3 ... ...
Net Interest Margin % ...               4.34 3.77 2.73 1.30 1.51    
Interest Spread % ...               3.67 3.22 2.38 0.960 1.19    
Asset Yield % ...               10.5 8.69 6.60 5.74 6.15    
Cost Of Liabilities % ...               6.84 5.46 4.22 4.78 4.96    
Payout Ratio % ... ...             41.0 ... 0 0 0   ...
Interest Income (As % Of Revenues) %                 83.7 75.2 74.2 56.1 56.0    
Fee Income (As % Of Revenues) %                 11.7 10.8 13.2 19.8 27.7    
Other Income (As % Of Revenues) %                 4.64 14.0 12.6 24.1 16.3    
Cost Per Employee USD per month ... ... ... ... ...       764 802 668 689 825    
Cost Per Employee (Local Currency) VND per month ... ... ... ... ...       16,050,700 17,036,700 14,448,000 15,178,000 18,472,200    
Staff Cost (As % Of Total Cost) %       ... ...       53.0 57.0 55.2 54.7 64.7    
Equity (As % Of Assets) %                 10.6 9.52 7.56 6.68 6.31    
Loans (As % Of Deposits) %                 82.6 77.7 70.4 67.3 68.8    
Loans (As % Assets) %                 67.7 66.7 62.9 59.2 59.8    
NPLs (As % Of Loans) %                 1.46 1.19 5.80 6.91 4.67    
Provisions (As % Of NPLs) %                 84.0 89.9 20.9 17.7 26.4    
Provisions (As % Of Loans) %                 1.24 1.08 1.23 1.24 1.25    
Cost of Provisions (As % Of Loans) % ...               0.426 0.816 1.45 0.366 0.392    
other data Unit 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
other data                              
Employees ... ... ... ...         11,662 12,608 16,485 17,079 18,535    
Sight (As % Of Customer Deposits) %                 13.8 14.9 12.7 13.2 13.9    
Return on Loans % ...               2.18 1.87 0.418 0.047 0.565    
Operating Profit (As % of Loans) % ...               3.81 3.63 2.39 0.808 1.50    
Costs (As % Of Loans) % ...               4.16 3.83 3.34 2.99 3.05    
Equity (As % Of Loans) %                 15.6 14.3 12.0 11.3 10.6    

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Sacombank's price/earnings (P/E) rose 26.3% yoy to 8.53 in 4Q2019

By Helgi Analytics - March 1, 2020

Sacombank stock traded at VND 10,050 per share at the end fourth quarter of 2019 implying a market capitalization of USD 782 mil. Since the end of 4Q2014, the stock has depreciated by -27.4 % implying an annual average growth of -6.21 %. In absolute terms, the value o...

Sacombank's market capitalisation (end of period) fell 15.8% yoy to USD 782 mil in 4Q2019

By Helgi Analytics - March 1, 2020

Sacombank stock traded at VND 10,050 per share at the end of fourth quarter of 2019 implying a market capitalization of USD 782 mil. Over the last five years, the stock has depreciated by 27.4 implying an annual average growth of -6.21% In absolute terms,...

Sacombank's net interest income fell 14.7% yoy to VND 1,800 bil in 4Q2019

By Helgi Analytics - March 1, 2020

Sacombank generated total banking revenues of VND 4,216 bil in the fourth quarter of 2019, up 5.14% when compared to the same period of last year and down 5.18% when compared to the previous quarter. Historically, the bank’s revenues containing of...

Sacombank's equity (as % of assets) fell 2.82% yoy to 5.90% in 4Q2019

By Helgi Analytics - March 1, 2020

Sacombank's Equity reached 5.90% of total assets in the 4Q2019, down from 6.07% for the previous year. As a share of net customer loans, the ratio amounted to 9.16% at the end of the fourth quarter of 2019. ...

Sacombank's customer loan growth rose 3.01% yoy to 15.4% in 4Q2019

By Helgi Analytics - March 1, 2020

Sacombank's customer loan growth reached 15.4% in 2019-12-31, up from 14.9% compared to the previous year. Historically, the bank’s loans growth reached an all time high of 147% in 2008-03-31 and an all time low of -4.39% in 2009-03-31. In the last decade...

Sacombank's net profit rose 21.9% yoy to VND 1,998 bil in 2019

By Helgi Analytics - March 1, 2020

Sacombank made a net profit of VND 1,998 bil under revenues of VND 15,610 bil in 2019, up 21.9% and 23.9% respectively compared to the previous year. Historically, the bank’s net profit reached an all time high of VND 2,229 bil in 2013 and an all time low of VND 88.6...

Sacombank's net interest income rose 20.6% yoy to VND 9,210 bil in 2019

By Helgi Analytics - March 1, 2020

Sacombank generated total banking revenues of VND 15,610 bil in 2019, up 23.9% compared to the previous year. Historically, the bank’s revenues containing of interest, fee and other non-interest income reached an all time high of VND 15,610 bil in 2019 and an a...

Sacombank's npls (as % of loans) fell 9.01% yoy to 1.94% in 2019

By Helgi Analytics - March 1, 2020

Sacombank's non-performing loans reached 1.94% of total loans at the end of 2019, down from 2.13% compared to the previous year. Historically, the NPL ratio hit an all time high of 6.91% in 2016 and an all time low of 0.230% in 2007. Provision coverage amou...

Sacombank's net interest margin rose 8.66% yoy to 2.14% in 2019

By Helgi Analytics - March 1, 2020

Sacombank's net interest margin amounted to 2.14% in 2019, up from 1.97% compared to the previous year. Historically, the bank’s net interest margin reached an all time high of 4.37% in 2012 and an all time low of 1.30% in 2016. The average margin in th...

Sacombank's price/earnings (P/E) fell 47.2% yoy to 9.07 in 2019

By Helgi Analytics - March 1, 2020

Sacombank stock traded at VND 10,050 per share at the end 2019 implying a market capitalization of USD 782 mil. Since the end of 2014, the stock has depreciated by -27.4 % implying an annual average growth of -6.21 %. In absolute terms, the value of the company f...

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