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Friday, June 21, 2024

OCB’s pre-tax profit rises 19.1% in 2023

The Saigon Times

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HCMC – Orient Commercial Joint Stock Bank (HOSE: OCB) has described 2023 as a successful year, with its pre-tax profit surging by 19.1% over 2022 to VND5.2 trillion and its charter capital increased to VND20.55 trillion.

As of December 31, the bank’s total assets had expanded by 23.4% year-on-year to VND239.45 trillion.

Its total revenue last year grew by 11.6% against 2022 to VND9.5 trillion. Of this amount, interest income accounted for nearly VND7.3 trillion, up by 4.9% year-on-year.

Meanwhile, OCB’s income from non-interest sources rose by 40.9% compared to 2022 to VND2.2 trillion, including VND882 billion from banking services.

The bank achieved a notable improvement in cost efficiency by year-end, with its cost-to-income ratio (CIR) dropping from 36.3% in 2022 to 33.3%.

Closing the trading session today, January 30, OCB edged up by 3.73% to VND15,300 per share, with over 7.9 million shares changing hands.

With 266 winners and 274 losers, the VN-Index added 3.96 points, or 0.34%, to reach 1,179.65 points.

Stock trade declined 7% in volume and 4% in value over the previous session, at 620.1 million shares worth VND13.7 trillion. Block deals contributed more than 55.4 million shares and nearly VND1.5 trillion to the overall value.

The Hanoi Stock Exchange (HNX) saw 90 gainers and 72 losers. The HNX-Index gained 1.62 points, or 0.71%, at 230.66 points. Trading volume exceeded 58.2 million shares worth a total of nearly VND1.22 trillion.

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