{"id":20020,"date":"2023-07-28T07:51:39","date_gmt":"2023-07-28T00:51:39","guid":{"rendered":"https:\/\/gtjai.com.vn\/?post_type=research&#038;p=20020"},"modified":"2023-07-31T08:00:23","modified_gmt":"2023-07-31T01:00:23","slug":"vib-equity-report_july-update_profit-still-witnessed-growth","status":"publish","type":"research","link":"https:\/\/gtjai.com.vn\/en\/research\/vib-equity-report_july-update_profit-still-witnessed-growth\/","title":{"rendered":"VIB Equity Report_July Update_Profit still witnessed growth"},"content":{"rendered":"<p style=\"text-align: justify\"><span style=\"font-family: arial, helvetica, sans-serif;font-size: 14px\"><strong>BUSINESS UPDATE<\/strong><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: arial, helvetica, sans-serif;font-size: 14px\">Weak demand in the retail segment caused bank credit growth to only reach 1% in the first half of the year.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: arial, helvetica, sans-serif;font-size: 14px\">However, the bank still maintained a high NIM base compared to Q1 as well as previous quarters.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: arial, helvetica, sans-serif;font-size: 14px\">PBT in Q2 set a new historical high at VND2,948 billion and brought the first half profit to VND5,642 billion, up 12%yoy.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: arial, helvetica, sans-serif;font-size: 14px\">VIB&#8217;s asset quality improved in Q2 when the NPL ratio decreased slightly from 2.6% to 2.45%.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: arial, helvetica, sans-serif;font-size: 14px\">The bank received a credit growth limit of 14.25% in 2023.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: arial, helvetica, sans-serif;font-size: 14px\">The new banca agreement signed with Prudential will be the driving force for the bank&#8217;s non-interest income in the long term.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: arial, helvetica, sans-serif;font-size: 14px\"><strong>RECOMMENDATION<\/strong><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: arial, helvetica, sans-serif;font-size: 14px\">In the long term, we believe that VIB&#8217;s growth potential is still very prosperous with the current credit scale being quite modest compared to the leading joint stock commercial banks. Credit growth only reached 1% in the first half of the year, suggesting great room for credit growth for banks in the second half of the year.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: arial, helvetica, sans-serif;font-size: 14px\">Currently, VIB stock has <strong>reached the target price<\/strong> we recommended in the report published in March (equivalent to VND19,600\/share after dividend). However, based on positive business expectations, we recommend that investors continue to hold stocks for long-term investment goals.<\/span><\/p>\n","protected":false},"author":12,"featured_media":0,"template":"","cate_research":[80],"specialized":[],"class_list":["post-20020","research","type-research","status-publish","hentry","cate_research-bao-cao-doanh-nghiep-en"],"yoast_head":"<title>VIB Equity Report_July Update_Profit still witnessed growth - 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\/vib-equity-report_july-update_profit-still-witnessed-growth\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"VIB Equity Report_July Update_Profit still witnessed growth - GTJA\" \/>\n<meta property=\"og:description\" content=\"BUSINESS UPDATE Weak demand in the retail segment caused bank credit growth to only reach 1% in the first half of the year. 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However, the bank still maintained a high NIM base compared to Q1 as well as previous quarters. PBT in Q2 set a new historical high at VND2,948 billion and brought the first [&hellip;]","og_url":"https:\/\/gtjai.com.vn\/en\/research\/vib-equity-report_july-update_profit-still-witnessed-growth\/","og_site_name":"GTJA","article_modified_time":"2023-07-31T01:00:23+00:00","twitter_card":"summary_large_image","twitter_misc":{"Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebSite","@id":"https:\/\/gtjai.com.vn\/#website","url":"https:\/\/gtjai.com.vn\/","name":"GTJA","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/gtjai.com.vn\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/gtjai.com.vn\/en\/research\/vib-equity-report_july-update_profit-still-witnessed-growth\/#webpage","url":"https:\/\/gtjai.com.vn\/en\/research\/vib-equity-report_july-update_profit-still-witnessed-growth\/","name":"VIB Equity Report_July Update_Profit still witnessed growth - GTJA","isPartOf":{"@id":"https:\/\/gtjai.com.vn\/#website"},"datePublished":"2023-07-28T00:51:39+00:00","dateModified":"2023-07-31T01:00:23+00:00","breadcrumb":{"@id":"https:\/\/gtjai.com.vn\/en\/research\/vib-equity-report_july-update_profit-still-witnessed-growth\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/gtjai.com.vn\/en\/research\/vib-equity-report_july-update_profit-still-witnessed-growth\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/gtjai.com.vn\/en\/research\/vib-equity-report_july-update_profit-still-witnessed-growth\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/gtjai.com.vn\/en\/"},{"@type":"ListItem","position":2,"name":"VIB Equity Report_July Update_Profit still witnessed growth"}]}]}},"_links":{"self":[{"href":"https:\/\/gtjai.com.vn\/en\/wp-json\/wp\/v2\/research\/20020\/"}],"collection":[{"href":"https:\/\/gtjai.com.vn\/en\/wp-json\/wp\/v2\/research\/"}],"about":[{"href":"https:\/\/gtjai.com.vn\/en\/wp-json\/wp\/v2\/types\/research\/"}],"author":[{"embeddable":true,"href":"https:\/\/gtjai.com.vn\/en\/wp-json\/wp\/v2\/users\/12\/"}],"wp:attachment":[{"href":"https:\/\/gtjai.com.vn\/en\/wp-json\/wp\/v2\/media\/?parent=20020"}],"wp:term":[{"taxonomy":"cate_research","embeddable":true,"href":"https:\/\/gtjai.com.vn\/en\/wp-json\/wp\/v2\/cate_research\/?post=20020"},{"taxonomy":"specialized","embeddable":true,"href":"https:\/\/gtjai.com.vn\/en\/wp-json\/wp\/v2\/specialized\/?post=20020"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}