Uncategorized

16
May
CTG – Brief – [NONRATED] – Elevated credit growth
1Q25 PBT rose by +9.9%yoy to VND6,823bn thanks to higher other income growth (+59.3%yoy), and flatness in provision risks expenses (+1%yoy). Higher provision risk expenses led to actual 1Q25 PBT...

13
May
BID – Earnings review – [BUY] – Unchanged earnings
1Q25 profit before tax stayed flat, +0.3%yoy to VND7,413bn due to weak operating incomes: modest increase in net interest incomes (+3.0%yoy), investment incomes (+103%yoy), and other incomes (+143%yoy), compensating for...

08
May
Banking – Note – [NEUTRAL] – Uphold a moderate growth trajectory
Aggregated 1Q25 PBT (27 listed banks) surged +14.5%yoy. If excluding the one-off incomes from SSB, the 100% stake sale of Post and Telecommunication Finance Company, 1Q25 PBT only rose by...

05
May
FRT – Brief – [NONRATED] – Growth slowed down
In 1Q25, FRT reported a net revenue of VND11.7tn (+29.1% yoy) and NPAT of VND213bn (+3.5x yoy). Long Chau’s sales continued to rise to VND8.1tn (+45.5% yoy) and NPAT surged...

24
April
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.

24
February

03
February

28
November
Derivatives: Caution returns
The contract has entered an accumulation phase on the hourly chart within the range of 1,305-1,310 pts. Based on breakout signals above the upper boundary or below the lower boundary,...

05
November
Derivatives: Downtrend
The contract has confirmed a short-term downtrend. Traders may consider opening short positions in upcoming sessions with a short-term target price around the 1,300-point area, which is the target of...