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Joint Stock Commercial Bank for Investment and Development of Vietnam:...
A director at Joint Stock Commercial Bank for Investment and Development of Vietnam sold 49,610 shares at 0.000VND and the significance rating of the trade was 71/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all th...
- Chinh Nguyen
BID – Provisions for credit losses are controlled and will support pro...
In Q2, total operating income decreased slightly by 4% YoY. However, effective control for provision for credit losses has been the driving force behind BID's PBT maintaining a growth rate of 6% YoY. The cost of funds (annualized) in Q2 increased at a slower pace, rising by 45 bps (compared to an increase of 81 bps in Q1). Meanwhile, lending rates experienced delay in rate adjustments, with the average rate increasing by 17 bps, resulting in a 36 bps increase in yield on earning assets). The ...
- Chinh Nguyen
BID – Completion of enhanced provisioning process
BID demonstrates its position as one of the leading banks in the industry by maintaining growth in most of its core business segments. Specifically, net interest income increased by 9% YoY and net fee income grew by 19% YoY. Although total operating income grew only 6.5% YoY, provision expenses became a factor that helped BID achieve a significant growth in its profit before tax of 53% YoY. Annualized cost of funds continued to trend up reflecting the continuous deposit rate hikes taking plac...
- Lam Nguyen
- Tung Do
Vietnam Strategy: July – Short-term opportunities arise amid earnings ...
Industries (and their sub-sectors) with good Q2 2022 profit growth prospects such as Consumer Goods (Fishery, F&B), Consumer Services (Retail), IT, Utilities (Electricity, Water), Materials (Chemical), Industry (Logistics) continued to witness improved liquidity and were relatively safe havens in June. This reaffirms our expectation of a deep divergence of money flow in the market. Although the positive price trend of stocks in the above-mentioned sectors may continue until Q2 earnings are re...
- Son Tran
Analyst Pin-board BID – 2022/2023 outlook: Strong earnings growth ahea...
The bank managed to control the formation of bad debt in 4Q21 with the support of bad debt reclassification to better loan groups following the removal of restrictions, while maintaining credit cost margin to account for the restructured loans. BID has made full provisions for those loans in 2021, which is ahead of the deadline according to Circular 03. This helps solidify its buffer. BID is expected to propose 2022 PBT target of VND 18.5-20.5 trillion in the upcoming AGM. 2022-2023 c...
- Thanh Nguyen
BID Vietnam: Expect robust growth in 2021, but issues remain
BID has set a target for 2021 PBT at VND13,000bn, credit and mobilisation growth at 10-12% and 12-15%, respectively. We estimate that BID could reach VND13,300bn in PBT or even higher. Although capital raising is pivotal, we think the enhancement in asset and growth quality is more crucial for a sustainable expansion. In the recent Annual General Meeting, BID announced 2021 plans, which consists of ambitious earnings growth with modest growth in credit and mobilisation. We think that the tar...
- Anh Nguyen
Vietnam banks: Service income temporarily hampered; long-term potentia...
Covid-19 pandemic has led to a slowdown, even compression, of banks’ service income in H1 20 During H1 20, many listed banks witnessed weak performance of service income growth, which stayed at only 9.9% yoy (much lower than 42.1% in H1 19). Service income contributed to 10.6% of operating income (similar to H1 19). The main reasons for the slowdown include (1) weak credit demand, which had hampered banking services, particularly insurance, trade service and FX gains, (2) net payment fee slow....
VCB JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM
ACB ASIA COMMERCIAL BANK
MBB MILITARY COMMERCIAL JOINT STOCK BANK
BID BANK FOR INVESTMENT AND DEVELOPMENT OF VIETNAM
HDB HO CHI MINH CITY DEVELOPMENT JOINT STOCK COMMERCIAL BANK
VPB VIETNAM PROSPERITY JOINT-STOCK COMMERCIAL BANK
- Anh Nguyen
Vietnam: Central bank urges more timely implementation of forbearance ...
In this report, we discuss further the State Bank of Vietnam’s (SBV) guidance for banks with updates from a recent meeting between the government and the public on 9 May. This is a follow-up on our report on the impact of Covid-19 on banks from the SBV’s order to reduce lending rates or tolerate loans to those economically hit by the pandemic (Circular 01/2020/TTNHNN). Giving priority to economic recovery. The government has identified that the need to restart economy activities and growth i...
- Anh Nguyen
Vietnam: The impact of Covid-19 on banks
In accordance with the State Bank of Vietnam's (SBV) order to lower lending rates for customers since February, banks have set aside a considerable amount of credit to provide new loans with preferential interest rates to support businesses. Banks now provide an average discount of 0.5-1.5ppts/year on lending rate for new loans to customers affected by the pandemic; in fact, some banks have even cut rates more deeply (TPB 1.5-2.5ppts; HDB 2-4.5ppt; VCB 2-5ppt). Banks are also offering prefere...
- Anh Nguyen
BID Vietnam: Positive on medium-term outlook; cut TP on coronavirus he...
BID has set a moderate earnings growth target of 16.4% in 2020, with the plan to finish its restructuring within this year as well as investing more resources on core banking and digital projects. We hold our positive view on BID’s outlook in the medium term based on stronger capital adequacy coupled with the clearance of legacy bad debts and the support from strategic partners. We forecast NPAT CAGR to reach 30% in 2020–2022 and ROE to approach 20% in the next three years. Considering the p...
Ford Equity International Rating and Forecast Report
Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind...
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