CTG – Brief – [NONRATED] – An impressive profit growth rate

4Q24 PBT surged by+59.1%yoy to VND12,245bn thanks to higher net interest incomes (+12%yoy), FX (+38%yoy), high incomes from bad-debt collections (+71%yoy), controllable operating expenses (4Q24’s 31% vs 4Q23’s 34%), and a significant decrease in risk provision expenses (-45%yoy), compensating by a decrease in service incomes (-20%yoy). 2024 PBT rallied by +27.1%yoy to VND31,758bn