ACB – Brief – [NONRATED] – Muted credit growth
1Q25 PBT inched down -6%yoy to VND4,596bn due to lower net interest incomes (-5.4%) and higher risk provision expenses (+22.2%yoy). 1Q25 PBT completed 20% of the 2025 target.
Featured Analysis
Derivatives: Caution increases
Market commentary: Real Estate bucked the market trend
GEG – Earnings Review – [HOLD] – 1Q25: Profit takes off, wind power surging
SBV withdraws significantly
Covered warrant: Positive development
Derivatives: Profit-taking pressure
Market commentary: Supply pressure dominates
