{"id":20594,"date":"2023-10-26T14:03:52","date_gmt":"2023-10-26T07:03:52","guid":{"rendered":"https:\/\/gtjai.com.vn\/?post_type=research&#038;p=20594"},"modified":"2023-10-26T14:03:52","modified_gmt":"2023-10-26T07:03:52","slug":"gtjasvn_vib-equity-report_-analyst-meeting-m10-2023_oct-2023","status":"publish","type":"research","link":"https:\/\/gtjai.com.vn\/en\/research\/gtjasvn_vib-equity-report_-analyst-meeting-m10-2023_oct-2023\/","title":{"rendered":"GTJASVN_VIB Equity Report_ Analyst Meeting M10.2023_Oct 2023"},"content":{"rendered":"<p style=\"text-align: justify\"><span style=\"font-family: arial, helvetica, sans-serif;font-size: 14px\"><strong>BUSINESS RESULT UPDATE<\/strong><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: arial, helvetica, sans-serif;font-size: 14px\">Credit in the third quarter improved compared to the first two quarters of the year, bringing the bank&#8217;s total credit growth in the first 9 months to 5.5%ytd (1H2023 increased by 1%ytd). The credit has been allocated more into the large corporate segment (14% of total lending book). Meanwhile, in the retail lending book, business loans have replaced auto loans to become the bank&#8217;s second largest credit proportion (19% of retail lending book).<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: arial, helvetica, sans-serif;font-size: 14px\">In addition to a slight decrease in NII, a sharp increase in provision costs was the main reason why PBT in the third quarter decreased compared to the second quarter to VND 2,683 billion (also down 4%yoy). However, the bank&#8217;s 9-month PBT still recorded an increase of 7%yoy.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: arial, helvetica, sans-serif;font-size: 14px\">A notable point is that the bank still maintained a continuous increase in NIM compared to previous quarters, reaching 4.8% at the end of Q3.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: arial, helvetica, sans-serif;font-size: 14px\">The NPL ratio was almost flat and was at 2.47% at the end of Q3.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: arial, helvetica, sans-serif;font-size: 14px\"><strong>BUSINESS EXPECTATION 2023<\/strong><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: arial, helvetica, sans-serif;font-size: 14px\">The bank expects to fully use up the credit growth limit in 2023 (14.25%). PBT for the year 2023 is expected to reach over 11,000 billion VND, corresponding to growth of 3%-5%yoy. NIM is expected to be around 4.7%.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: arial, helvetica, sans-serif;font-size: 14px\">In terms of asset quality control, VIB expects to bring NPL ratio below 2.15% by early 2024. Credit cost is expected to gradually decrease from mid-2024.<\/span><\/p>\n","protected":false},"author":12,"featured_media":0,"template":"","cate_research":[80],"specialized":[],"class_list":["post-20594","research","type-research","status-publish","hentry","cate_research-bao-cao-doanh-nghiep-en"],"yoast_head":"<title>GTJASVN_VIB Equity Report_ Analyst Meeting M10.2023_Oct 2023 - 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\/gtjasvn_vib-equity-report_-analyst-meeting-m10-2023_oct-2023\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GTJASVN_VIB Equity Report_ Analyst Meeting M10.2023_Oct 2023 - GTJA\" \/>\n<meta property=\"og:description\" content=\"BUSINESS RESULT UPDATE Credit in the third quarter improved compared to the first two quarters of the year, bringing the bank&#8217;s total credit growth in the first 9 months to 5.5%ytd (1H2023 increased by 1%ytd). The credit has been allocated more into the large corporate segment (14% of total lending book). Meanwhile, in the retail [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/gtjai.com.vn\/en\/research\/gtjasvn_vib-equity-report_-analyst-meeting-m10-2023_oct-2023\/\" \/>\n<meta property=\"og:site_name\" content=\"GTJA\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@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\/gtjasvn_vib-equity-report_-analyst-meeting-m10-2023_oct-2023\/#webpage\",\"url\":\"https:\/\/gtjai.com.vn\/en\/research\/gtjasvn_vib-equity-report_-analyst-meeting-m10-2023_oct-2023\/\",\"name\":\"GTJASVN_VIB Equity Report_ Analyst Meeting M10.2023_Oct 2023 - GTJA\",\"isPartOf\":{\"@id\":\"https:\/\/gtjai.com.vn\/#website\"},\"datePublished\":\"2023-10-26T07:03:52+00:00\",\"dateModified\":\"2023-10-26T07:03:52+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/gtjai.com.vn\/en\/research\/gtjasvn_vib-equity-report_-analyst-meeting-m10-2023_oct-2023\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/gtjai.com.vn\/en\/research\/gtjasvn_vib-equity-report_-analyst-meeting-m10-2023_oct-2023\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/gtjai.com.vn\/en\/research\/gtjasvn_vib-equity-report_-analyst-meeting-m10-2023_oct-2023\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/gtjai.com.vn\/en\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"GTJASVN_VIB Equity Report_ Analyst Meeting M10.2023_Oct 2023\"}]}]}<\/script>","yoast_head_json":{"title":"GTJASVN_VIB Equity Report_ Analyst Meeting M10.2023_Oct 2023 - GTJA","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/gtjai.com.vn\/en\/research\/gtjasvn_vib-equity-report_-analyst-meeting-m10-2023_oct-2023\/","og_locale":"en_US","og_type":"article","og_title":"GTJASVN_VIB Equity Report_ Analyst Meeting M10.2023_Oct 2023 - GTJA","og_description":"BUSINESS RESULT UPDATE Credit in the third quarter improved compared to the first two quarters of the year, bringing the bank&#8217;s total credit growth in the first 9 months to 5.5%ytd (1H2023 increased by 1%ytd). The credit has been allocated more into the large corporate segment (14% of total lending book). Meanwhile, in the retail [&hellip;]","og_url":"https:\/\/gtjai.com.vn\/en\/research\/gtjasvn_vib-equity-report_-analyst-meeting-m10-2023_oct-2023\/","og_site_name":"GTJA","twitter_card":"summary_large_image","twitter_misc":{"Est. reading time":"2 minutes"},"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\/gtjasvn_vib-equity-report_-analyst-meeting-m10-2023_oct-2023\/#webpage","url":"https:\/\/gtjai.com.vn\/en\/research\/gtjasvn_vib-equity-report_-analyst-meeting-m10-2023_oct-2023\/","name":"GTJASVN_VIB Equity Report_ Analyst Meeting M10.2023_Oct 2023 - GTJA","isPartOf":{"@id":"https:\/\/gtjai.com.vn\/#website"},"datePublished":"2023-10-26T07:03:52+00:00","dateModified":"2023-10-26T07:03:52+00:00","breadcrumb":{"@id":"https:\/\/gtjai.com.vn\/en\/research\/gtjasvn_vib-equity-report_-analyst-meeting-m10-2023_oct-2023\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/gtjai.com.vn\/en\/research\/gtjasvn_vib-equity-report_-analyst-meeting-m10-2023_oct-2023\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/gtjai.com.vn\/en\/research\/gtjasvn_vib-equity-report_-analyst-meeting-m10-2023_oct-2023\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/gtjai.com.vn\/en\/"},{"@type":"ListItem","position":2,"name":"GTJASVN_VIB Equity Report_ Analyst Meeting M10.2023_Oct 2023"}]}]}},"_links":{"self":[{"href":"https:\/\/gtjai.com.vn\/en\/wp-json\/wp\/v2\/research\/20594\/"}],"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=20594"}],"wp:term":[{"taxonomy":"cate_research","embeddable":true,"href":"https:\/\/gtjai.com.vn\/en\/wp-json\/wp\/v2\/cate_research\/?post=20594"},{"taxonomy":"specialized","embeddable":true,"href":"https:\/\/gtjai.com.vn\/en\/wp-json\/wp\/v2\/specialized\/?post=20594"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}