Analyst Pin-board MBB - 8M2022 Performance Update
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· PBT of parent bank reached VND14,500 billion in 8M2022, compared to nearly VND10,000 billion in the same period last year. Total PBT of subsidiaries were nearly VND2,000 billion in 8M, of which MCredit reached nearly VND800 billion. · High credit growth and NIM’s expansion drove earnings growth. · Asset quality and risk costs were well-controlled but pressures are rising. · Increasing risk to be awared with high exposure in sectors that related to real estate. · Forecast and valuation are being updated considering the risk-reward balance and the context of increasing capital costs. According to information announced by MBB in our meeting with the bank on September 29, the parent bank's total operating income reached VND 23,800 billion, up 22% YoY, of which net interest income increased 36% YoY. Net income from services rose slowly by 6% YoY with the lower fees from consulting on issuance and distribution of corporate bonds as well as net income from insurance. PBT of parent bank reached VND14,500 billion in 8M2022, compared to nearly VND10,000 billion in the same period last year. Total profit of subsidiaries were nearly VND2,000 billion, of which MCredit arrived at nearly VND800 billion. |
Military Commercial Joint-Stock Bank (MB) is a Vietnam-based financial institution. It is engaged in the offering of commercial banking services and derivative products. The Bank also acts as an insurance agent and provides related services. It is involved in the trading of bonds and other valuable papers, as well as the trading and processing of gold. In addition, the Bank is engaged in monetary intermediation activities. As of December 31, 2011, the Bank had five subsidiaries, three affiliates, one branch in Laos, one branch in Cambodia, 53 branches, 118 transaction offices, four saving funds and four transaction points in cities and provinces throughout Vietnam. As of the same date, its subsidiaries included MB Securities Joint Stock Company (MBS), MB Fund Management Stock Company (MBCapital) and MB Assets Management Company Limited (AMC).
Viet Dragon Securities belongs to top 20 biggest securities companies in terms of chartered capital in Vietnam. With a qualified, dedicated and professional team, a widespread network, advanced technology, diversified products and services, and good relationship with local and foreign institutions, we provide a wide range of services and products to our clients both individuals and institutions, both local and foreign. We commit to provide our clients with promising investment opportunities and a comprehensive and professional financial investment services.
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