AsemconnectVietnam - In 9 months of 2023, Sacombank (STB) achieved over VND6,840 billion profit and MB reached VND20,000 billion profit, OCB reaches nearly VND4,000 billion pre-tax profit; SHB completed 80% of the year's profit plan and Vietbank (VBB) reached nearly VND419 billion profit before tax. In Q3/2023, Eximbank (EIB) reached nearly VND307 billion in pre-tax profit. BIDV's total consolidated assets reached over VND2.13 million billion. KienlongBank (KLB): The third quarter remains stable, expected to achieve the year-end plan target.

Sacombank (STB)
Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank, code STB) has just announced its consolidated financial report for the third quarter of 2023, pre-tax profit for the first 9 months of 2023 increased by 54% over the same period, thanks to a strong increase in main revenue sources and reduce provisioning.
Specifically, in the first 9 months of 2023, main activities grew strongly by 48% over the same period, recording more than VND16,439 billion in net interest income. On the contrary, non-interest income decreased. Profit from services decreased by 53%, profit from other activities decreased by 94%. Profit from foreign exchange trading increased by 6%, investment securities trading activities changed from loss to profit.
Meanwhile, Sacombank only set aside more than VND3,144 billion to reserve for credit risks in the first 9 months of 2023, a decrease of 43%. As a result, the Bank recorded a pre-tax profit of more than VND6,840 billion, an increase of 54% over the same period.
Thus, compared to the plan of VND9,500 billion profit before tax set for the whole year, Sacombank has achieved 72% of the target after 9 months.
Sacombank's total assets as of the end of the third quarter of 2023 expanded by 10% compared to the beginning of the year, reaching VND651,288 billion. Of which, customer loans increased by 8%; Customer deposits increased by 12%. Sacombank's total bad debt as of September 30, 2023 is VND10,387 billion, 2.4 times higher than the beginning of the year. The ratio of bad debt to outstanding loans increased from 0.98% at the beginning of the year to 2.2%.
BIDV (BID)
Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV, code BID - HOSE) has just announced its financial report for the third quarter of 2023.
By the end of the third quarter of 2023, BIDV's total consolidated assets reached over VND2.13 million billion, continuing to maintain its position as the bank with the largest total assets in the market.
Mobilizing capital to meet capital needs, ensuring system liquidity safety. By September 30, 2023, customer deposits and valuable paper issuance reached nearly VND1.75 million billion, an increase of 7% compared to the beginning of the year. Capital mobilization grew well in retail and wholesale segments, increasing efficiency and stability of the capital base.
Outstanding credit balance focuses on the production sector, priority areas and growth drivers according to the Government's policy and direction of the State Bank. By September 30, 2023, outstanding credit balance increased by 8.4% compared to compared to the beginning of the year, of which customer loans reached VND1.65 million billion, an increase of 8.6%. Credit balance grew steadily in both retail (8.6%) and wholesale (8.3%) segments, contributing to supporting business and consumption activities of businesses and people.
Credit quality is controlled within limits, bad debt ratio according to Circular 11/2021/TT-NHNN dated September 30, 2023 is controlled according to orientation (≤1.4%). BIDV makes full risk provisions according to regulations. Operational safety indicators are guaranteed according to State regulations.
The consolidated revenue and expenditure gap reached VND35,173 billion. Consolidated pre-tax profit reached VND19,763 billion, up 11.8% over the same period last year.
On September 3, BIDV's Core Banking Profile core banking system officially went into operation, fully integrating more than 100 applications into the core banking system, ensuring safety and accuracy of information.
The successful implementation of Core Banking Profile is expected to open a new page in the Bank's development history, bringing comprehensive breakthroughs, especially in orientation, business development strategy, and development thinking. Developing products and services, organizational models, management models, operational processes..., contributing to improving the quality of products and services, increasing customer satisfaction, thereby strengthen the bank's position in the future.
In the coming time, BIDV will continue to closely monitor the system situation, manage business activities in the direction of safe and effective credit growth, focus on increasing non-interest revenue sources, and enhancing e-banking services, maximizing revenue sources and controlling costs, striving to complete the set business plan goals.
MB
Military Commercial Joint Stock Bank (MB, stock code MBB) has just announced business results for the third quarter of 2023 and the first three quarters of the year. Accordingly, MB maintains a positive growth rate, effectively manages operating costs, and continues to affirm its leading position in the race to digitally transform the banking industry.
Strong digitalization, targeting 30 million customers celebrating 30 years of establishment 1994-2024
In the first 9 months of 2023, MB successfully attracted nearly 4 million new customers, cumulatively reaching 25 million customers. The bank aims to conquer 30 million customers before celebrating MB's 30th birthday in 2024.
"For us, the definition of MB is now not simply a bank, but MB wants to become a digital enterprise" is the affirmation of Mr. Luu Trung Thai, Chairman of the Board of Directors of MB at a recent forum organized by Forbes. That determination of MB is clearly demonstrated in the bank's investment strategy in technology and platforms as well as the unique digital products MB brings to the market.
MB maintains the development of a digital ecosystem on two platforms: App MBBank (individual customers) and BIZ MBBank (business customers). By the end of September 2023, MB recorded 1.5 billion transactions on digital channels with a transaction value of VND7 million billion. The transaction scale on the digital platform remains high at 96%, equivalent to top Asian banks. At the same time, MB is one of the top banks in applications with more than 10 million active accounts in Vietnam.
Also according to the head of MB, the bank has the ability to join hands with more than 200 partners through the mini-app model, directly providing services to 25 million customers. This is considered a useful and friendly model for both users and businesses and technology partners.
In early October 2023, MB was honored to win the "Asia Excellence Enterprise" award for the fourth consecutive time and had four solutions win the "Vietnam Digital Transformation 2023" award thanks to its high technology content and friendliness, satisfy customer experience.
Completed 20% dividend payment in cash and stocks
Always focusing on harmonizing the interests of the bank, customers, shareholders and investors, MB has completed paying cash dividends at a rate of 5% and stock dividends at a rate of 15% in the third quarter of 2023 in accordance with the resolution approved by shareholders.
In addition, the plan to increase charter capital approved at the Annual General Meeting of Shareholders is still being actively implemented by MB. Specifically, the total charter capital is expected to increase in 2023 from VND45,340 billion (December 31, 2022) to VND52,141 billion. The additional capital will mainly be used for investment to increase capacity, including investment in systems, technology solutions, and investment in headquarters in Ho Chi Minh City and key areas..., at the same time supplement business investment capital.
Maintain stable growth momentum
In the first 9 months of 2023, MB's consolidated pre-tax profit reached more than VND20,000 billion, up 10% over the same period in 2023. Of which, the bank alone reported a profit of VND18,866 billion, up 15% compared to the third quarter last year, showing steady growth in the bank's business activities.
The bank recorded positive credit growth with the total outstanding debt of the entire group reaching nearly VND577,000 billion, equivalent to an increase of nearly 14% compared to 2022. This is also a higher growth rate than the average level of the entire banking industry. In addition, MB's customer deposit size also grew by 8.1% compared to the previous year, reaching VND479,733 billion.
The bank's own net interest margin (NIM) decreased slightly by 0.08% compared to 2022. MB representative said that this comes from MB focusing on reducing lending interest rates to support businesses in a difficult business context, in accordance with the policies of the Government and the State Bank.
In a challenging economic context, from the beginning of the year, MB has focused on ensuring safety indicators, optimizing operational efficiency as well as cost management. In addition to improving customers' service experience, the digitalization process has been helping MB significantly reduce operating costs, improve operational efficiency, and better manage risks according to international ESG standards. Thanks to that, the CIR ratio (operating costs/total income) of the entire group has been significantly improved, optimally by 2% compared to the same period in 2022; Of which, the bank's own CIR decreased to 28.5%.
In the last three months of the year as well as the following years, MB will continue to invest methodically and strongly in digital transformation, continuously developing and refining key digital platforms to bring the most convenient experience to customers.
"We determine that digital platforms will contribute about 50% of the bank's revenue within the next 4 years," shared Mr. Luu Trung Thai, Chairman of the Board of Directors of MB. That will be the "leverage" for MB to realize the strategic goal of becoming a digital enterprise and a leading financial group set for the period 2022-2026.
OCB
Orient Commercial Joint Stock Bank (OCB) has just announced business results for the first 9 months of 2023 with pre-tax profit of VND3,915 billion, an increase of 47.8% over the same period.
Specifically, at the end of the first 9 months of 2023, OCB recorded total net revenue of VND6,921 billion, an increase of 17.6% over the same period last year. The driving force comes from core business segments such as retail, corporate customers, card services, OCB OMNI digital bank...
Of which, interest income reached VND5,434 billion, maintaining a positive growth rate in the context of the economy showing many signs of recovery. Notably, non-interest income continued to be the highlight of OCB's growth when it increased by 94.6% to VND1,487 billion and contributed significantly 21% to total net revenue.
Operating costs were well controlled when OCB's cost/revenue ratio (CIR) decreased to 32.1% while the same period in 2022 was at 39.4%. Thus, after 9 months, OCB recorded pre-tax profit of VND3,915 billion, an impressive growth of 47.8% over the same period in 2022.
As of September 30, 2023, OCB's total assets reached VND216,755 billion, an increase of 11.7% compared to the beginning of the year. In particular, outstanding debt in market 1 also increased by 10.8% compared to the end of 2022, reaching VND136,105 billion, completing 92% of the 2023 plan thanks to actively implementing a series of loan packages with preferential interest rates and simple procedures.
Recently, OCB has focused on promoting businesses that benefit from public investment, household businesses and retail lending. These are industries and fields that are being prioritized by the state to promote economic growth.
OCB's total production and business disbursement in the first 9 months of the year reached 235% of the accumulated plan, the production and business balance increased by 119% over the same period in 2022. Focusing on the right customer segment and appropriate business segment have helped OCB maintain positive credit growth compared to the industry average.
The scale of mobilization continues to grow clearly when mobilization in market 1 reached 155,664, an increase of 13.3% compared to the end of 2022, completing 90% of the year's plan although mobilization interest rates in the market tend to decrease from the second quarter of 2023.
In addition, related indicators of risk management such as capital adequacy ratio (CAR), short-term capital ratio for medium and long-term loans, loan-to-deposit ratio (LDR), are always maintained at a safe level by OCB. Bad debt ratio is controlled at 1.94%, meeting all regulations of the State Bank. Stable liquidity index, adequate liquid asset buffer.
Compared to the beginning of 2023, up to the current period, OCB's new disbursement interest rate has decreased from 2 to 6%. With the need to borrow capital for production, business or consumption such as buying a house, real estate, car... customers will enjoy preferential interest rates from only 6.5%/year at OCB.
Deploying a credit package for businesses from only 6.79%/year, some specific businesses in the fields of Logistics, Healthcare, FMCG (fast-moving consumer goods), education, import-export, FDI... will receive Additional support of 0.2% annual interest rate and many other incentives.
KienlongBank (KLB)
Kien Long Commercial Joint Stock Bank (KienlongBank, UPCoM: KLB) has just released its consolidated financial report for the third quarter of 2023, showing a positive business situation, creating a premise for sustainable growth.
Business results with many positive indicators
In the third quarter of 2023, KienlongBank's pre-tax profit reached VND237.2 billion. Accumulated for 9 months, pre-tax profit reached VND639 billion, recorded positively compared to the same period in 2022 due to increased scale. Total consolidated assets and total capital mobilization reached VND85,553 billion and VND75,439 billion, respectively.
Outstanding credit balance as of the end of the quarter reached more than VND48,660 billion, which mainly focuses on priority areas such as agriculture, forestry, fisheries or activities that produce physical products and household self-consumption services. The bad debt ratio of the entire bank is maintained at a low level of 2%, ensuring compliance with regulations of the State Bank (SBV).
KienlongBank's net profit from service activities, foreign exchange trading, and securities trading recorded an impressive increase, contributing to maintaining stable growth momentum in the quarter. In addition, the Bank has also further promoted providing multi-utility experiences to customers through products and services on digital platforms based on the new Core Bank and Core Card platforms along with the planned target business model transformation strategy.
Marking the 28-year journey of Digital Vitality, creating breakthrough momentum with multi-utility digital products
With the goal of becoming a modern, comprehensive and friendly Digital Bank by 2025, every step of KienlongBank is aimed at leaving a mark on a modern Bank, with new thinking, breakthrough solutions and a team full of Digital Vitality in the journey of serving customers. The bank has continuously improved service quality, developed more products, found solution groups and deployed technology applications and digital transformation throughout the system effectively and in the right direction.
One of the highlights that has contributed significantly to KienlongBank's positive business results in recent times is the Store Financial Management solution set - MyShop, with more than 12,000 new Shops opened in the quarter. Not only does it provide store owners with a safe, fast, and secure solution, with MyShop, customers can also experience a financial management solution and smart sales cash flow tracking.
Not only MyShop, KienlongBank has also launched a payment solution for businesses - KienlongBank Pay with collection and payment features such as tuition collection, salary payment... This promises to be one of the solutions. Supporting businesses in implementing income and expenditure on behalf of customers and clearing payments online, thereby helping to increase the efficiency of management and capital use, improving the competitiveness of businesses.
Building a business culture associated with community development
In addition to providing diverse and professional banking products and services with the orientation of developing Digital Banking, in order to bring added value to customers, partners and shareholders, the mission that KienlongBank always guides is Comes ready to share values for the benefit of community development and business prosperity. Throughout the 28-year journey of formation and development (October 27, 1995 - October 27, 2023), based on its internal capabilities, KienlongBank has proactively optimized processes, reduced operating costs, strive to provide solutions with the goal of accompanying and supporting businesses, thereby contributing to stability and supporting economic growth.
Accordingly, KienlongBank deploys many suitable solutions, supporting both individual customers (KHCN) and corporate customers (KHDN). The Bank has advocated the direction of focusing and shifting capital flows into the production and business sectors, especially priority sectors according to Government regulations such as rural agriculture, export, small and medium enterprises... comes with the implementation of 7 consecutive loan interest rate reductions to support businesses.
In addition to business objectives, KienlongBank always considers responsibility to the community as one of the priorities in the Bank's long-term development strategy. Recognizing its efforts and responsibility for society, willingness to share difficulties, and always accompany people and businesses, KienlongBank was honored in the Asia-Pacific "Inspirational Brand" category Asia Pacific Enterprise Awards 2023.
Eximbank (EIB)
Eximbank (Code: EIB) has just released its financial report with pre-tax profit in the third quarter of 2023 reaching VND306.9 billion, down 76% over the same period, due to a decrease in revenue from main activities.
Specifically, in the third quarter of 2023, Eximbank's main source of revenue decreased by 42% to nearly VND869 billion. Meanwhile, non-interest income sources grew, such as profit from services increased by 10%, trading of investment securities changed from loss to profit, profit from other activities increased by 43%.
The main source of revenue dropped sharply, causing net profit from business activities to decrease by 51%, to only nearly VND477 billion. In addition, this quarter Eximbank switched from reversing VND296 billion to setting up provisions of more than VND170 billion, so the Bank only had pre-tax profit of nearly VND307 billion, down 76% over the same period.
Accumulated in the first 9 months of 2023, Eximbank's net interest income decreased by 23%, to nearly VND3,200 billion. Profit before tax for 9 months reached more than VND1,712 billion, down 46% over the same period. Thus, compared to the plan of VND5,000 billion pre-tax profit in 2023, Eximbank has only achieved 34% of the target after the first 3 quarters of this year.
As of the end of September 2023, Eximbank's total assets reached VND191,337 billion, an increase of 3.4% compared to the beginning of the year. Lending and customer deposit activities both increased at a slower rate than most banks that reported results for the third quarter of 2023. Of which, loans increased by 4.2% compared to the beginning of the year, reaching nearly VND136,000 billion.
By the end of the third quarter of 2023, Eximbank's bad debt ratio showed signs of improvement compared to the second quarter, decreasing from VND3,625 billion to VND3,593 billion, corresponding to a bad debt ratio of 2.64% compared to 1.8% at the beginning of the year.
SHB
Saigon - Hanoi Commercial Joint Stock Bank (SHB) has just announced its consolidated financial report for the third quarter of 2023 with pre-tax profit for the first 9 months of the year completing 80% of the plan assigned by the General Meeting of Shareholders.
Specifically, in the third quarter of 2023, SHB achieved consolidated pre-tax profit of VND2,425.3 billion, cumulative 9 months reached VND8,509.5 billion.
At this congress, SHB presented shareholders with two business plans for 2023, corresponding to two credit growth limits of 10% and 14%. Specifically, option 1 with a credit growth limit of 10%, the Bank targets pre-tax profit to increase by 6.15% to VND10,285 billion. Option 2 with a credit growth limit of 14%, the Bank targets pre-tax profit to increase by 9.67%, reaching VND10,626 billion. However, in both options, the Bank's Board of Directors aims to pay dividends in 2023 at a rate of 15%.
Thus, by the end of the first 9 months of 2023, SHB has completed 80% of the year's plan.
Total assets as of September 30, 2023 reached VND596,000 billion, an increase of 8.13% compared to the beginning of the year; Capital mobilization in market 1 reached nearly VND475,000 billion; Equity capital according to Basel II reached VND67,801 billion.
As of September 30, 2023, SHB's outstanding credit balance reached VND430,000 billion, an increase of 10% compared to the end of 2022. In the third quarter of 2023, SHB issued more than 552 million shares to pay dividends in 2022. in shares at a rate of 18%, thereby increasing charter capital to VND36,194 billion, ranking in the Top 4 largest private commercial banks in the system.
SHB's safety, liquidity, and risk management indicators all comply with and are better than the State Bank's regulations. SHB has fully complied with the 3 pillars of Basel II standards and from the beginning of 2023 SHB has applied Basel III standards in liquidity risk management.
It is known that in 2023, SHB will expand its network by 5 more branches and 25 transaction offices, bringing the total number of domestic and international transaction points to 569 transaction points. Traditional business locations such as branches and transaction offices will help SHB increase brand recognition and banking facilities, contributing to reaching a large number of customers.
In addition, these business locations will provide modern banking facilities closer to customers not only in urban areas but also in rural areas, where banking services are still limited.
Always accompanying businesses and people, SHB has implemented many credit programs such as reducing loan interest rates from 1% - 3%, preferential limits, shortening procedures and credit granting processes...
Vietbank (VBB)
Vietnam Thuong Tin Commercial Joint Stock Bank (Vietbank, stock code: VBB) has just announced business results for the third quarter and the first 9 months of 2023.
Specifically, cumulatively in the first 9 months of the year, the Bank's net interest income decreased by 4% compared to the same period last year, to just over VND1,276 billion, mainly due to a decrease in loan interest income and a decrease in interest income from debt securities business.
Non-interest income sources also decreased, such as profits from services down 5%, profits from foreign exchange trading down 8%, profits from investment securities down 32%. Profit from other activities decreased by 52%, to just over VND95 billion, because income from real estate transfer deposits was only VND8.6 billion, a decrease of 91%.
Although Vietbank reduced its credit risk provision costs by 58%, only deducting nearly VND89 billion, but because net profit from business activities decreased by 32%, to more than VND507 billion, this bank made a profit first. Tax is nearly VND419 billion, down 22% over the same period last year.
In particular, in the third quarter of 2023 alone, Vietbank's pre-tax profit was nearly VND50 billion, down 67% because most revenue sources decreased over the same period.
Thus, compared to the plan of VND960 billion in pre-tax profit set for the whole year, Vietbank has only achieved nearly 44% after the first 9 months of this year.
By the end of the third quarter of 2023, the Bank's total assets increased by 10% compared to the beginning of the year, to VND125,079 billion. Of which, customer loans increased by 12%; Customer deposits increased by 13% compared to the beginning of the year.
Vietbank's total bad debt as of September 30, 2023 is nearly VND2,891 billion, an increase of 24% compared to the beginning of the year. Among them, the sharpest increase was in sub-standard debt. The ratio of bad debt to outstanding loans increased from 3.65% at the beginning of the year to 4.06%.
N.Nga
Source: VITIC/Tinnhanhchungkhoan