VCB – Earnings review – [BUY] – Awaiting the return
- 3Q25 PBT rose by +5.0%yoy/ +1.9%qoq to VND11.24tn thanks to a moderate increase in total operating incomes (+7.2%yoy/+1.0%qoq). Accumulated 9M25 PBT climbed by +5.1%yoy to VND33.1tn, completing 76% of the 2025 guidance and KIS’s 2025 estimate.
Featured Analysis
Jan 2026: The lowest issuances
PHR – Brief – [NONRATED] – NP slides on weak IP and no VSIP III payment
Banking – Note – [NEUTRAL] – On target
Derivatives: Declining liquidity
Market commentary: Sustained demand
Derivatives: Reversal signal?
Market commentary: Broad-based gains
