VPBank consolidated profit is nearly 4,200 billion, up 64% over the same period in 2023
In the first quarter of 2024, VPBank recorded consolidated pre-tax profit of nearly 4.2 trillion VND, an increase of nearly 66% compared to the previous quarter and 64% over the same period. At the parent bank alone, pre-tax profit in the first quarter reached more than 4.9 trillion VND, nearly doubling compared to the fourth quarter of 2023, with total operating income increasing by 15% and net interest income increasing by 25%. compared to the same period.
Compounding the parent bank’s profit with VPBankS and OPES, VPBank earned nearly 5,200 billion VND, an increase of approximately 2 times compared to the last quarter of 2023.
At the end of the first quarter, VPBank’s consolidated credit increased by 2.1% compared to the beginning of the year – higher than the industry average (1.3%), and increased by nearly 22% over the same period, reaching nearly 613 trillion VND .
Mobilizing capital from customers and valuable papers of the consolidated bank increased by 2.4% compared to the end of 2023 and increased by more than 21% over the same period.
OCB pre-tax profit of more than 1,200 billion, up 23%
Summarizing the first quarter of 2024, OCB recorded pre-tax profit of 1,214 billion VND, an increase of 23% over the same period.
In the first 3 months of the year, OCB’s total net income reached VND 2,287 billion, an increase of 9.4% over the same period in 2023, of which the main contribution to growth comes from net interest income and foreign exchange trading activities. .
Net interest income in the quarter reached 1,901 billion VND, up 8.6% over the same period and accounting for 83.12% of total net income.
Non-interest income also grew well with an increase of 13.8% to VND 386 billion. Net profit from foreign exchange trading alone reached 118 billion VND, 2.4 times higher than the same period last year thanks to taking advantage of strong fluctuations in exchange rates in the first months of the year.
As of March 31, 2024, OCB’s market 1 outstanding debt increased by 3.5% compared to the end of 2023, reaching VND 153,199 billion. Total assets remained stable, reaching nearly 237 trillion VND. Capital mobilization in market 1 reached more than 163,400 billion.
Relevant indicators of risk management such as capital adequacy ratio (CAR), short-term capital ratio for medium and long-term loans, loan-to-deposit ratio (LDR), are guaranteed by OCB at a safe level. full. Bad debt ratio is controlled below 3%, meeting all regulations of the State Bank. Stable liquidity index with adequate liquid asset buffer.
BVBank profited 69 billion in the first quarter
Ban Viet Bank (BVBank – stock code: BVB) has just announced its business results for the first quarter of 2024. Accordingly, thanks to high growth from revenue from core business activities, in the first 3 months of the year, BVBank completed 35% of the year’s profit plan, recording pre-tax profit of 69 billion VND.
At the end of the first 3 months of the year, BVBank recorded total assets reaching nearly 84,000 billion VND, an increase of 7% over the same period in 2023.
As of March 31, 2024, the bank’s total outstanding credit balance reached nearly VND 66,500 billion, growing 10% over the same period last year. In particular, the main growth driver comes from loans to individuals and economic organizations, with outstanding loans reaching more than 57,000 billion VND, growing 6.7% over the same period.
Loan balance decreased slightly by 1.2%, of which loan balance decreased in January and quickly increased again in the last 2 months of the quarter.
In terms of liquidity, total mobilization increased by 6.4% compared to the first quarter of 2023.
MSB: Profit before tax is 1,530 billion VND
MSB just announced its first quarter business results with pre-tax profit reaching 1,530 billion VND, a slight increase compared to the same period in 2023 and equivalent to 22.5% of the whole year plan.
MSB’s total operating income in the first quarter reached more than 3,100 billion VND, an increase of nearly 9% over the same period in 2023. Net interest income is still the pillar of growth when it reached nearly 2,400 billion VND, an increase of 9.6%. Non-interest income/total income maintains an effective proportion of over 24%.
In the first quarter, credit growth in the first quarter reached 5.6%. MSB’s total assets reached nearly 279,000 billion VND at the end of the first 3 months of the year.
On the other hand, customer deposits increased by 4.1% compared to the end of 2023. Of which, the bank’s total demand deposits reached nearly VND 40,300 billion, an increase of 14.64%, bringing the CASA/Total ratio Deposits reached 29.21%, an increase of nearly 3 percentage points compared to December 31, 2023.
In the context of total assets and total net revenue both increasing, the bank maintained net interest margin (NIM) at 3.87%. The bank’s operating costs are better controlled, helping the operating cost to revenue ratio (CIR) decrease to 33.6% compared to 39.26% at the end of 2023.
As of March 31, 2024, the loan-to-deposit ratio (LDR) was at 71.9% and the ratio of short-term capital for medium-long-term loans (MTLT) was at 28.78%. The consolidated capital adequacy ratio (CAR) stood at 12.15% at the end of the first quarter, much higher than the regulatory minimum of 8%.
ACB profit was 4,900 billion in the first quarter, down slightly compared to the same period in 2023
By the end of March 2024, ACB’s consolidated pre-tax profit reached 4.9 trillion VND, completing 22% of the year’s plan. Quarterly profit decreased slightly over the same period due to the same period in 2023 having unusual income and increased loan provisions. Currently, ACB’s bad debt ratio is at 1.45%. If excluding the impact of debt groups according to CIC, ACB’s bad debt ratio is only 1.3%.
According to the report, ACB’s credit reached 506 trillion, mobilization reached nearly 493 trillion. Compared to the beginning of the year, the growth rates of credit and mobilization were 3.8% and 2.1%, respectively, higher than the industry growth rate. In particular, the CASA rate recorded an impressive growth of 23.7%. Besides, good growth from core business activities, interest income and income from service activities brought ACB’s total income to nearly 8.2 trillion, a growth of 3.1%. ACB’s ROE ratio is at 23.4%, ACB continues to lead the market in terms of efficiency.
In the first quarter, ABBank profit was 178 billion VND
An Binh Commercial Joint Stock Bank (ABBank) has just announced its business results for the first quarter of 2024 with pre-tax profit for the first quarter of 2024 reaching 178 billion VND.
Specifically, as of March 31, 2024, ABBank recorded total mobilization reaching 127,382 billion VND, total outstanding debt reached 125,108 billion VND, an increase of 8.29% and 10.06% respectively over the same period in 2023. .
In the first quarter, ABBank set aside 177 billion VND into the credit risk reserve fund, equivalent to an increase of 51.51% over the same period in 2023. After setting up provisions.
At the end of March, ABBank maintained the CAR index at 11.49%, higher than the minimum requirement (>= 8%) of the State Bank. Asset quality is also guaranteed according to regulations with the bad debt ratio maintained below 3%.
TPBank: Profit before tax reached more than 1,800 billion VND
Techcombank: Pre-tax profit reached VND 7,802 billion, up 38.7%.
MB: Profit before tax is nearly 5,800 billion VND, down 11%.
LPBank: Profit before tax is nearly 2,900 billion VND, an increase of 84%.
BacABank: Pre-tax profit 339 billion VND, up 1%.
PGBank: Pre-tax profit 116 billion VND, down 24%.
VIB: Profit before tax is more than 2,500 billion VND.
SeABank: Profit before tax is more than 1,500 billion, up 41%.
BaoVietBank profit is 8 billion VND, an increase compared to the profit of 7 billion VND in 2023.
Thus, Techcombank is currently leading the banking industry with pre-tax profit reaching VND 7,802 billion, up 39% over the same period last year. MB ranked second with a profit of VND 5,795 billion, down 11%. In the same period last year, MB recorded higher profits than Techcombank. Ranked third is ACB with expected pre-tax profit of VND 4,900 billion.
In terms of profit growth rate, LPBank ranks first with 84% higher than the first quarter of 2023. Behind are VPBank (+64%), SeABank (+41%), Techcombank (+39%), OCB (+23%).
