{"id":15598,"date":"2022-08-26T09:13:36","date_gmt":"2022-08-26T02:13:36","guid":{"rendered":"https:\/\/gtjai.com.vn\/?post_type=research&#038;p=15598"},"modified":"2022-08-26T09:13:36","modified_gmt":"2022-08-26T02:13:36","slug":"banking-sector-_2h-outlook","status":"publish","type":"research","link":"https:\/\/gtjai.com.vn\/en\/research\/banking-sector-_2h-outlook\/","title":{"rendered":"Banking Sector _2H Outlook"},"content":{"rendered":"<p style=\"text-align: justify\"><strong><span style=\"font-family: arial, helvetica, sans-serif;font-size: 14px\">KEY NOTES<\/span><\/strong><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: arial, helvetica, sans-serif;font-size: 14px\">Credit growth touched the limit from early Q2 with total economy credit growth of 9.35%ytd. New credit room is expected at the end of Q3\/ early Q4 that will ensure the full year growth of 14%-15%.<\/span><br \/>\n<span style=\"font-family: arial, helvetica, sans-serif;font-size: 14px\">Rising funding cost due to higher interest rate. NIM of large banks witnessed a downward trend while small-medium-scale banks recorded upward NIM thanks to good cost controlling in 1H. We expect sector\u2019s NIM to be stable in 2H given banks\u2019 active measure in restructuring lending portfolio and diversifying funding sources.<\/span><br \/>\n<span style=\"font-family: arial, helvetica, sans-serif;font-size: 14px\">The listed banks recorded 32% growth in PBT in 1H. We can see a skyrocketed growth this quarter given the low base income in Q3 last year. Therefore, despite some headwind, banks may continue to experience good growth in 2H (25%-30%yoy). <\/span><br \/>\n<span style=\"font-family: arial, helvetica, sans-serif;font-size: 14px\">Non-performing loan is well controlled and believed to stable in 2H.<\/span><br \/>\n<span style=\"font-family: arial, helvetica, sans-serif;font-size: 14px\">Looking for investment opportunities in banking stocks, we maintain the \u201cBUY\u201d recommendation for MBB, BID, VPB given their good growing momentum and attractive capital raising plan.<\/span><\/p>\n","protected":false},"author":12,"featured_media":0,"template":"","cate_research":[80],"specialized":[],"class_list":["post-15598","research","type-research","status-publish","hentry","cate_research-bao-cao-doanh-nghiep-en"],"yoast_head":"<title>Banking Sector _2H Outlook - GTJA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/gtjai.com.vn\/en\/research\/banking-sector-_2h-outlook\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Banking Sector _2H Outlook - GTJA\" \/>\n<meta property=\"og:description\" content=\"KEY NOTES Credit growth touched the limit from early Q2 with total economy credit growth of 9.35%ytd. New credit room is expected at the end of Q3\/ early Q4 that will ensure the full year growth of 14%-15%. Rising funding cost due to higher interest rate. 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