AsemconnectVietnam - Military Commercial Joint Stock Bank (MB - stock code: MBB) has just announced its business results report for the second quarter and the first 6 months of 2023. Accordingly, MB has maintained a good performance in business objectives according to the proposed plan and steady growth.

Specifically, the consolidated financial statements of the second quarter showed that Military Bank and its member companies (MB Group) continued to maintain stable business results. Accordingly, the Bank recorded total assets of more than VND806,000 billion, up 10.7% compared to the beginning of the year, profit before tax of parent bank MB increased by 11.8% over the same period to VND11,950 billion; Consolidated pre-tax profit increased by 7.1% to VND12,735 billion.
Consolidated customer deposits reached VND475,406 billion, up 7.2% over the same period last year. MB's CASA ratio reached 37.06%, in group 1, the highest among joint stock commercial banks. CASA's deposit size continues to remain at the top of the industry.
Credit growth was one of the bright spots at MB in the first 6 months of this year with the combined outstanding loans of MB bank increasing by 10.6% compared to the beginning of the year, of which the outstanding loans in the second quarter grew better than the first quarter (growth of 6.8% compared to the first quarter, an increase of 3.7%).
In terms of credit quality, MB's bad debt ratio increased slightly compared to the end of 2022, the consolidated bad debt ratio recorded 1.33% (including corporate bonds), of which the bank was 1.12% and lower than the level of 1.76% at the end of the first quarter. This result was achieved thanks to the Bank's preparation in advance and fully setting aside some problematic restructuring debts during the Covid period, to prepare for bad situations.
MB's operating expenses are also controlled according to the plan. Accordingly, the CIR rate increased slightly over the same period in 2022 (32.79% compared to 32.63% in the same period in 2022).
Continuing to pursue the goal of "becoming a digital enterprise - a leading financial group", MB Group has applied technology, digitally transformed management and operation activities, pioneered the market in terms of credit limits, disbursement of international money transfer, signing of credit documents using CA Cloud…
In the first half of 2023, MB Group has implemented digital factory projects and platform initiatives. Thanks to this, the Bank maintained the speed of attracting new customers, accumulated by the end of June, there were nearly 23.5 million individual customers and nearly 300,000 corporate customers.
In addition to improving the experience on digital channels such as the MBBank App and BIZ MBBank, diversifying services and products according to the needs of customers, MB continues to develop the transaction network through the MB SmartBank system (intelligent automated banking), helping banks to serve customers more comprehensively.
MB leaders shared, MB Group expects that in the last 6 months of 2023, total assets will increase by more than 20%, credit growth for good customers. In the coming time, MB will continue to promote rapid growth of Guarantee products and services, with a target of 120% growth in trade finance and over 150% in Bancas and credit cards. At the same time, MB also continues to be consistent in its goal of conquering 30 million customers in the period 2022 - 2026.
N.Nga
Source: VITIC/Tinnhanhchungkhoan