2Q24 PBT grew +38.5%yoy to VND7,827bn from a low-based 2Q23 thanks to (1) improvements in operating incomes for both net interest income (+50.6%yoy) and non-interest incomes (+30%yoy) (2) controlled operating income with lower CIR (2Q24’s 29% vs 2Q23’s 31%). However, 2Q24 risk provision expenses for credit losses rose significantly by +104%yoy, partly restraining profit growth. 1H2024 was up +38.6%yoy to VND15,628bn, completing 58% of 2024 targets and 51% of KIS’s estimation. We forecast that TCB could grow +34%yoy in 2024 under better market conditions.

2Q24 PBT grew +38.5%yoy to VND7,827bn from a low-based 2Q23 thanks to (1) improvements in operating incomes for both net interest income (+50.6%yoy) and non-interest incomes (+30%yoy) (2) controlled operating income with lower CIR (2Q24’s 29% vs 2Q23’s 31%). However, 2Q24 risk provision expenses for credit losses rose significantly by +104%yoy, partly restraining profit growth. 1H2024 was up +38.6%yoy to VND15,628bn, completing 58% of 2024 targets and 51% of KIS’s estimation. We forecast that TCB could grow +34%yoy in 2024 under better market conditions.

2Q24 PBT grew +38.5%yoy to VND7,827bn from a low-based 2Q23 thanks to (1) improvements in operating incomes for both net interest income (+50.6%yoy) and non-interest incomes (+30%yoy) (2) controlled operating income with lower CIR (2Q24’s 29% vs 2Q23’s 31%). However, 2Q24 risk provision expenses for credit losses rose significantly by +104%yoy, partly restraining profit growth. 1H2024 was up +38.6%yoy to VND15,628bn, completing 58% of 2024 targets and 51% of KIS’s estimation. We forecast that TCB could grow +34%yoy in 2024 under better market conditions.

2Q24 PBT grew +38.5%yoy to VND7,827bn from a low-based 2Q23 thanks to (1) improvements in operating incomes for both net interest income (+50.6%yoy) and non-interest incomes (+30%yoy) (2) controlled operating income with lower CIR (2Q24’s 29% vs 2Q23’s 31%). However, 2Q24 risk provision expenses for credit losses rose significantly by +104%yoy, partly restraining profit growth. 1H2024 was up +38.6%yoy to VND15,628bn, completing 58% of 2024 targets and 51% of KIS’s estimation. We forecast that TCB could grow +34%yoy in 2024 under better market conditions.

2Q24 PBT grew +38.5%yoy to VND7,827bn from a low-based 2Q23 thanks to (1) improvements in operating incomes for both net interest income (+50.6%yoy) and non-interest incomes (+30%yoy) (2) controlled operating income with lower CIR (2Q24’s 29% vs 2Q23’s 31%). However, 2Q24 risk provision expenses for credit losses rose significantly by +104%yoy, partly restraining profit growth. 1H2024 was up +38.6%yoy to VND15,628bn, completing 58% of 2024 targets and 51% of KIS’s estimation. We forecast that TCB could grow +34%yoy in 2024 under better market conditions.

2Q24 PBT grew +38.5%yoy to VND7,827bn from a low-based 2Q23 thanks to (1) improvements in operating incomes for both net interest income (+50.6%yoy) and non-interest incomes (+30%yoy) (2) controlled operating income with lower CIR (2Q24’s 29% vs 2Q23’s 31%). However, 2Q24 risk provision expenses for credit losses rose significantly by +104%yoy, partly restraining profit growth. 1H2024 was up +38.6%yoy to VND15,628bn, completing 58% of 2024 targets and 51% of KIS’s estimation. We forecast that TCB could grow +34%yoy in 2024 under better market conditions.

2Q24 PBT grew +38.5%yoy to VND7,827bn from a low-based 2Q23 thanks to (1) improvements in operating incomes for both net interest income (+50.6%yoy) and non-interest incomes (+30%yoy) (2) controlled operating income with lower CIR (2Q24’s 29% vs 2Q23’s 31%). However, 2Q24 risk provision expenses for credit losses rose significantly by +104%yoy, partly restraining profit growth. 1H2024 was up +38.6%yoy to VND15,628bn, completing 58% of 2024 targets and 51% of KIS’s estimation. We forecast that TCB could grow +34%yoy in 2024 under better market conditions.

2Q24 PBT grew +38.5%yoy to VND7,827bn from a low-based 2Q23 thanks to (1) improvements in operating incomes for both net interest income (+50.6%yoy) and non-interest incomes (+30%yoy) (2) controlled operating income with lower CIR (2Q24’s 29% vs 2Q23’s 31%). However, 2Q24 risk provision expenses for credit losses rose significantly by +104%yoy, partly restraining profit growth. 1H2024 was up +38.6%yoy to VND15,628bn, completing 58% of 2024 targets and 51% of KIS’s estimation. We forecast that TCB could grow +34%yoy in 2024 under better market conditions.

2Q24 PBT grew +38.5%yoy to VND7,827bn from a low-based 2Q23 thanks to (1) improvements in operating incomes for both net interest income (+50.6%yoy) and non-interest incomes (+30%yoy) (2) controlled operating income with lower CIR (2Q24’s 29% vs 2Q23’s 31%). However, 2Q24 risk provision expenses for credit losses rose significantly by +104%yoy, partly restraining profit growth. 1H2024 was up +38.6%yoy to VND15,628bn, completing 58% of 2024 targets and 51% of KIS’s estimation. We forecast that TCB could grow +34%yoy in 2024 under better market conditions.

2Q24 PBT grew +38.5%yoy to VND7,827bn from a low-based 2Q23 thanks to (1) improvements in operating incomes for both net interest income (+50.6%yoy) and non-interest incomes (+30%yoy) (2) controlled operating income with lower CIR (2Q24’s 29% vs 2Q23’s 31%). However, 2Q24 risk provision expenses for credit losses rose significantly by +104%yoy, partly restraining profit growth. 1H2024 was up +38.6%yoy to VND15,628bn, completing 58% of 2024 targets and 51% of KIS’s estimation. We forecast that TCB could grow +34%yoy in 2024 under better market conditions.