AsemconnectVietnam - In 2022, VietBank (VBB) reached VND649 billion profit before tax; MB (MBB) achieved VND22,729 billion profits; Nam A Bank (NAB) achieves VND2,268 billion in pre-tax profit. SeABank awarded the Best Bank in Vietnam 2022 by The Banker; HDBank expected to grow strongly and sustainably, accelerating digital transformation.

VietBank (VBB)
Vietnam Thuong Tin Joint Stock Bank (VietBank - Code: VBB) announced its financial report for the fourth quarter of 2022, with pre-tax profit plummeting 53.1% to VND113.1 billion. However, for the whole year of 2022, pre-tax profit reached VND649 billion, up 2.1% over the same period.
The reason why in the fourth quarter of 2022, VietBank recorded a 53% decrease in pre-tax profit to VND113 billion due to the sharp decline in profits of business segments.
During the period, minus net profit from service activities increased by 12.7% to VND37.2 billion, the rest of this bank's operating segments all recorded a sharp decline when net interest income decreased by 33.2% to VND466.5 billion, net profit from other business activities decreased by 53.1% to VND81.3 billion.
The foreign exchange business recorded a loss of nearly VND7 billion and the investment securities business lost more than VND400 billion in the fourth quarter of 2022. In addition, the Bank also reduced risk provision expenses by more than 77% to nearly VND92 billion.
In the whole year of 2022, VietBank's pre-tax profit reached VND649 billion, up 2.1% over the same period. In which, net interest income increased by 21.3% year-on-year to VND1,802 billion.
Net profit from service activities of VietBank last year increased by 35.4% to VND119 billion. The foreign exchange business recorded a profit nearly 5 times higher than the previous year to VND55.6 billion.
On the other side, net profit from investment securities recorded a decrease of 87% compared to the previous year, from VND475.6 billion to VND61.7 billion.
Previously, at the beginning of January 2022, the Board of Directors of VietBank approved the reduction of the pre-tax profit plan in 2022 from VND1,090 billion to VND800 billion, equivalent to a decrease of nearly 27%.
As of December 31, 2022, Vietbank's total assets reached VND111,936 billion, up 8.3% compared to the end of 2021. In which, customer loans increased by nearly 26% to more than VND63,632 billion. Customer deposit balance increased by 13.8% over the previous year, reaching VND75,988 billion.
Regarding loan quality, the bank's bad debt balance increased by 26% to VND2,324 billion, of which group 5 loans nearly doubled compared to the end of 2021 to VND1,814 billion, but the bad debt ratio (debt ratio) from group 3 to group 5) remained unchanged at 3.65%.
Nam A Bank
Nam A Commercial Joint Stock Bank (Nam A Bank - Code: NAB) announced its financial statements for the fourth quarter of 2022 with pre-tax profit of the whole year of 2022 reaching VND2,268 billion, up 26.1% over the previous year and reaching 100.8% profit plan gives the whole year profit.
In 2022, Nam A Bank's pre-tax profit increased by 26.1% over the previous year as all business segments recorded positive growth. NPL ratio decreased from 1.57% to 1.35%.
In which, net interest income, the main source of income of the bank last year, reached VND5,119 billion, up nearly 20% compared to the previous year. Net profit from service activities increased by 32% y/y to VND274.9 billion. Net profit from forex trading reached VND57 billion, up 24% over the previous year. Other business activities increased 37 times over the previous year, from nearly VND9 billion to VND302 billion.
However, in the opposite direction, net profit from investment securities decreased by 56.3% compared to the previous year to VND119.4 billion. Particularly in the fourth quarter of 2022, the bank's pre-tax profit decreased slightly by 4.6% to VND359 billion, the main reason was that the bank's operating expenses increased sharply by 53.3% to VND1,055 billion while the total revenue of the bank increased sharply by 53.3% to VND1,055 billion, total income increased only 22%.
In the fourth quarter of 2022, the bank's net interest income increased by 8.5% to VND1,405 billion, net profit from foreign exchange business doubled to VND31.8 billion. Net profit from other business activities increased 72 times to VND290 billion. However, some other segments saw a sharp decline such as net profit from services decreased by 13.7% to VND62.8 billion, net profit from investment securities decreased by 98% to VND3.5 billion.
As of December 31, 2022, total bank assets reached VND177,578 billion, an increase of 16% over the previous year. Loans to customers increased by 16.4% to VND119,538 billion. Customer deposit balance increased by 8.4%, reaching VND124,993 billion. In addition, the bad debt balance was at VND1,611 billion, however, the bank's bad debt ratio decreased from 1.57% to 1.35%.
Nam A Bank successfully raised USD20 million
Nam A Bank has successfully mobilized USD20 million, equivalent to VND471.7 billion from BlueOrchard to expand its loan portfolio for small and medium enterprises and promote the Bank's business activities.
Mobilizing capital from the international market is a bright spot for businesses in general and Nam A Bank in particular to continue to promote business development.
In order to access this capital, credit institutions need to meet strict standards from international financial institutions such as ensuring stable financial capacity, good risk management, and a long-term and effective development strategy.
BlueOrchard – a leading global impact fund manager, founded in 2001 at the initiative of the United Nations as the world's first commercial manager for debt financing investments micros across the world. BlueOrchard primarily promotes inclusive growth and is eco-climate.
BlueOrchard has disbursed more than USD10 billion to more than 700 organizations across 105 emerging and frontier countries. It also impacts the lives of more than 260 million low-income individuals and contributes to 16 of the 17 SDGs.
After a period of survey and evaluation, Nam A Bank fully met the criteria and successfully mobilized USD20 million from this organization. This activity contributes to strengthening the Bank's financial resources, accompanies enterprises to expand production and business.
A representative of BlueOrchard shared: "We are very pleased to be able to accompany and support Nam A Bank in its growth and development plans. With stable financial potential, vision and development strategy sustainable and effective, BlueOrchard believes that Nam A Bank will effectively use this capital and accompany the development of businesses.”
Nam A Bank is one of the pioneer banks in digitalisation, risk management, network expansion and community activities. During the 31-year journey of establishment and development, Nam A Bank has made great strides with an effective and sustainable long-term development strategy. Therefore, Nam A Bank meets the criteria to access capital from the international market.
MB (MBB)
Military Commercial Joint Stock Bank (MB - stock code MBB) has just announced its financial statement 2022. Accordingly, consolidated pre-tax profit reached VND22,729 billion, up 37.5% compared to 2021; of which, the bank's own pre-tax profit was VND20,318 billion, up 41.1% over the previous year.
Net revenue in 2022 recorded a growth of 23.4% compared to 2021, reaching nearly VND45,600 billion. As of December 31, 2022, MB Group's total assets recorded more than VND728,500 billion, up 20% over the previous year. The bank's credit scale grew at a high rate of 25% compared to 2021.
MB Group's CIR (cost-to-income index) continued to improve, down 1% compared to 2021. In which, the bank's own CIR ratio decreased by 0.5% over the previous year, reaching 29.36%, showing that the bank's operational efficiency has improved. MB manages credit effectively with a low bad debt ratio of the whole group, about 1% (bad debt for banks alone is at 0.83%) and a high bad debt coverage ratio, one of the top banking industry, reaching nearly 300% for the bank alone and 238% for the whole group.
The consolidated capital adequacy ratio (CAR) reached 11.5%, continued to improve by 0.2% compared to 2021 and 3.5% higher than the SBV's regulation of 8%. NIM of the whole group continued to improve, growing by 0.6% compared to 2021 thanks to optimizing the portfolio and maintaining a good size of profitable assets, focusing on the retail and consumer finance segments.
In 2022, MB has made strong investments in digital transformation, notably completing the upgrade of the T24 system, readying the infrastructure to serve 30 million customers. Labor productivity continued to grow with the average profit before tax/person increased by 40%/person compared to 2021. By the end of 2022, the profit before tax of member companies reached VND2,411 billion, contributing 12 % profit before tax of the whole group.
MB's management said that the Bank's immediate goal is to reach 28 million customers by 2023. MB will accelerate the implementation of 11 strategic initiatives in the period 2022-2026, with a focus on digital factory projects, unifying customer identities, and continuing to promote digitization at MB as well as its member companies. In the future, MB confidently aims to reach about 120 trillion in revenue, 45 trillion in profit, which is 2.5 to 3 times higher than in 2021 by 2026.
"We are determined to develop MB into a multi-functional financial group with a complete ecosystem to better meet the needs of customers," MB's leader shared. "MB will complete important strategic goals in the new phase, continue to affirm its position in the top 3 markets in terms of efficiency, and aim to be the top in Asia," the leader said.
In addition, in 2023, MB aims to increase labor productivity, aiming for the top position in the market through the process of accelerating digitization, automating operations and optimizing processes.
SeABank
Within the framework of the "Bank of the Year 2022" award announcement ceremony held by The Banker Magazine (United Kingdom), Southeast Asia Commercial Joint Stock Bank (SeABank, stock code SSB) ) is proud to be honored as "Best Bank in Vietnam 2022" (Best Bank in Vietnam 2022).
SeABank is the only representative of Vietnam and also one of 22 typical banks of the Asia-Pacific region honored at this year's awards.
The Banker is the world's leading financial magazine, founded in 1926 by The Financial Times (United Kingdom), recognized as the magazine that attracts the most readers in the banking sector. The "Bank of the Year" award system is organized annually by The Banker to honor a single typical bank of countries and regions around the world.
In 2022, SeABank is honored to be the only Vietnamese bank for the third time and one of 22 typical banks in the Asia-Pacific region to be honored in the "Bank of the Year" award system for its outstanding achievements and successful in international integration and promoting comprehensive digitization. Together with SeABank, The Banker has honored many prestigious banks in the Asia-Pacific region, such as Agricultural Bank of China (China), Standard Chartered (Hong Kong, Bangladesh), OCBC NISP (Indonesia) ), ICBC (Macau), SBS Bank (New Zealand), Hana Bank (Korea), Siam Commercial Bank (Thailand)…
Over the past time, SeABank has continuously implemented and applied international standards in banking activities, typically applying Basel III risk management standards, applying International Financial Reporting Standards. IFRS) and is rated Ba3 by Moody's for many categories. At the same time, SeABank also successfully expanded opportunities for international cooperation and investment, and attracted many investments and credit packages with a total value of nearly USD600 million from the United States International Development Finance Corporation (US International Development Finance Corporation). DFC), the International Finance Corporation (IFC) and investment funds to improve financial capacity and increase capital to support SMEs, especially women-owned enterprises. Thereby, the bank can improve its potential and resilience to changes in the macro economy, bringing trust and sustainable values to customers and partners.
The strategy of "Digital convergence" being promoted by SeABank has also brought many efficiency and competitive advantages to the bank. Specifically, SeABank has focused on digitizing products and services as well as digitizing business processes, aiming to automate and simplify the working process for employees through software such as: Electronic office system SeAOffice, automatic transaction system at SeATeller counters, FPT.AI virtual assistant automatically reminding debt and renewing passbook, deploying SeAMobile digital banking application for individual customers and SeAMobile Biz for corporate customers …
Besides, SeABank also strongly applied artificial intelligence (AI), Big Data, Google Cloud cloud computing technology, machine learning (ML) to build business-responsive applications. Thereby helping the Bank optimize costs and operating time, improve customer experience, and create speed and convenience for all employees and customers.
These positive results have helped SeABank to be the only representative of Vietnam to be honored as the Best Bank in Vietnam 2022 (Best Bank in Vietnam 2022) at the "Bank of the Year 2022" Awards Ceremony. . The award recognizes SeABank's efforts to develop and grow comprehensively in terms of international integration, business results, and investment in applying advanced technology. Previously, in 2013 and 2021, SeABank was also honored with the "Bank of the Year" award by The Banker. In August 2022, SeABank was also voted by this organization to be in the Top 1000 World Banks (Top 1000 World Banks).
HDBank
At the Investor Conference to update business results in 2022, HDBank's representative said that in 2023, the bank expects to continue to grow strongly in terms of scale and quality.
Applying Basel III, digital transformation and further developing the service sector are the programs that are expected to contribute positively to improving the efficiency and safety of HDBank's operations.
HDBank's representative had an update report on business results in 2022 and shared comments on some of the bank's programs in 2023.
2022 is the year the bank has achieved its best business results ever with VND10,268 billion in pre-tax profit, up 27.2% over the same period. In which, total revenue of the bank reached VND21,967 billion, up 31% over the same period. The bank's life insurance business also more than doubled over the same period last year, demonstrating strong growth potential in the future.
HDBank's asset quality is also maintained at a good level with a separate bad debt ratio of 1.3%, a consolidated bad debt ratio of 1.67%, much lower than the 1.92% of the whole industry. The loan-to-deposit ratio is low compared to the maximum level set by the state bank. This comes from the fact that the bank is always cautious in managing liquidity risks, mobilizing capital from market 1 has achieved high results.
As of December 31, 2022, HDBank has 347 branches and transaction offices, more than 24.5 thousand consumer finance transaction points and over 16,000 employees serving over 14 million customers. Besides, HDBank has a large and potential customer ecosystem including customers of HDBank, Vietjet Air and HD SAISON.
To achieve the above results, the bank has implemented a number of strategies such as promoting the development of digital banking, exploiting ecosystem advantages, insurance business and corporate governance and environmental risks, society according to the best international standards. Notably, for digital transformation, HDBank has achieved positive results such as the number of transactions via digital channels nearly doubled, the transaction value through digital channels increased by 547%.
In 2023, the bank aims to maintain a high growth momentum, effectively manage risks, ensure asset quality and operational safety indicators among the leading banks, and implement programs to help customers overcome difficulties.
In addition, the bank is also promoting the signing of exclusive insurance distribution contracts and mobilizing international capital at a reasonable cost to further improve safety and performance indicators, ready to apply Basel III.
N.Nga
Source: VITIC/Tinnhanhchungkhoan