Research Center

VIB Equity Report_Update 1H2022_Added to VN30 basket

29/07/2022

Share:

1H Performance
In 1H2022, VIB reported VND5,023 bn PBT, +27%yoy. NII increased 26%yoy while service income increased by 14%yoy.
The bank lending book grew 9.7%ytd in 1H while customer deposits were maintained well with ytd growth of 13.97%.
VIB continues to stand as the most effective bank in the system in terms of ROE at 30%, stable compared to the 2 latest quarters. Meanwhile, NIM was up to 4.5% from 4.4% and OPEX increased slowly with the CIR ratio decreasing in 1H.

COMMENTS

VIB maintained its momentum in 1H2022. However, profit would be hit in the 2nd haft due to the higher deposit rate and its relatively weaker CASA position. NIM may fall between the 4.3%-4.5% range at the end of the year.
We believe that the bank can get at least 15% credit growth this year and PBT fulfills the target of VND10,000bn, +30%yoy.
In the market, VIB stock is expected to attract more investment from investors and funds since it will officially be in the VN30 basket from August.

Danh sách báo cáo liên quan

GTJASVN_BMP_Equity Report_Valuation Update_16 DEC 2024 (Target price: VND 109,000)

16/12/2024

REPORT SUMMARY In Q3/2024, BMP recorded a net revenue of VND 1,407 billion, up 52% compared to the same period last year and 22% compared to the previous...

GTJASVN Research_Banking Sector_Q3.2024 Earnings Update_Nov 2024

07/11/2024

The Q3/2024 banking sector report highlights: Credit growth reached 9% by the end of September, with private banks seeing strong growth while state-owned...

GTJASVN_TCB-Equity-Report_Q3.2024 Earnings Update_Oct2024

29/10/2024

Techcombank saw strong credit and profit growth in the first 9 months of 2024, with credit growth at 17.4% ytd and pre-tax profit reaching VND 22.8 trillion...

Contact

    • Stock index
    • VNINDEX: 1257.5   2.83   (0.23%)
    • HNX: 227.07   -0.47   (-0.21%)