Category: Stock Reviews

In 2015, Sacombank merged with Southern Commercial Bank, the latter known as Phuong Nam in Vietnamese, which was in distress without about 50 percent of its debts considered bad at the time. This merger had a huge impact on Sacombank’s business performance in the period from 2016 to 2023 as it needed to set aside provisions for, as well as process, these bad debts. However, most of that assets have now been handled…

In the first half of 2024, VIB’s total operating income rose by 0.6 percent year-over-year to reach US$417 million, while profit before tax dropped by 18.4 percent to US$185.4 million…

Net interest income declined by 3.7 percent, in contrast to the broader trend where banks like VPBank, HDBank, and VietinBank saw significant growth in net interest income during the first half of the year. Of note, SHB’s credit growth declined slightly by 0.3 percent in the first quarter of 2024. In response, the bank reduced lending interest rates in late March to compete for credit demand, however, this led to a drop in its net interest margin…

Notably, VPBank’s bad debt ratio is higher than many other banks, largely due to its high-risk business model. Unsecured loans and real estate made up 20 percent and 22 percent of its total credit, respectively…

Non-interest income fell by 12.6 percent to US$333.2 million, driven by a drop in bancassurance operations, in line with a broader decline in bancassurance revenue following negative publicity in 2023. In addition, securities trading revenue decreased 72.6 percent in contrast to the VN Index which increased by 10.2 percent and other financial institutions like MB Bank which had an eightfold increase in securities revenue year-over-year…

MBB’s total operating income increased by 11.3 percent year over year in the first half of 2024 with the banking industry benefiting from a more stable macroeconomic environment than in 2023 and a rebound in credit demand. Net interest income, however, increased by only 1 percent…

In the first half of 2024, HDB saw a significant uptick in its performance, with total operating income and pre-tax profit increasing by 32.9 percent and 48.9 percent year-over-year, respectively. This growth was primarily attributed to a more stable macroeconomic environment and a rebound in credit demand compared to 2023 during which banks in general faced a challenging financial environment with rising interest costs on deposits outpacing lending income…

In the first half of 2024, BIDV achieved improved performance, with total operating income and net profit rising by 8.3 percent and 12.1 percent year-over-year respectively. This growth was primarily driven by a significant increase in corporate loans for commercial production and mortgage loans, as well as gains in trading and forex-related income.