External broker reports(aggregated public sources), Rong Viet Securities

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External broker reports(aggregated public sources)

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Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

Vietnam International Bank / Equity Bottom-Up

<ul><li>A deep retail-oriented strategy along with the competitive advantage of fast retail loan processing will enable VIB to unlock the untapped potential of personal credit.</li><li>Mortgage - the bank's key product - though faces short-term challenges but its future demand is assured.</li><li>VIB has the capability to sustain above industry average profitability given its unique characteristics.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

A deep retail-oriented strategy along with the competitive advantage of fast retail loan processing will enable VIB to unlock the untapped potential of personal credit.Mortgage - the bank's key product - though faces short-term challenges but its future demand is assured.VIB has the capability to sustain above industry average profitability given its unique characteristics.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

VIB - A Highly Differentiated Retail Bank That Will Deliver Long-Term Value

<ul><li>A deep retail-oriented strategy along with the competitive advantage of fast retail loan processing will enable VIB to unlock the untapped potential of personal credit. </li><li>Mortgage - the bank's key product - though faces short-term challenges but its future demand is assured. </li><li>VIB has the capability to sustain above industry average profitability given its unique characteristics. </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

A deep retail-oriented strategy along with the competitive advantage of fast retail loan processing will enable VIB to unlock the untapped potential of personal credit. Mortgage - the bank's key product - though faces short-term challenges but its future demand is assured. VIB has the capability to sustain above industry average profitability given its unique characteristics. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Vietnam International Bank: A Highly Differentiated Retail Bank That Will Deliver Long-Term Value

External broker reports(aggregated public sources), Mirae Asset Securities

Mirae Asset Securities

Leading full-service brokerage firm in Vietnam. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Thematic (Sector/Industry)

<p>Credit growth in 9M23 lagged significantly behind annual target set by State Bank of Vietnam (SBV): By end-3Q23, credit growth for the year stood at 6.92%, falling far short of the SBV's expected range of 14–16%.</p><p>This marks the second lowest growth rate in a decade, reminiscent of the banking crisis in 2011–2012.</p><p>High lending rates, gloomy macroeconomic data, and an uncertain economic outlook have become the primary drivers of weak credit demand. </p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Credit growth in 9M23 lagged significantly behind annual target set by State Bank of Vietnam (SBV): By end-3Q23, credit growth for the year stood at 6.92%, falling far short of the SBV's expected range of 14–16%.This marks the second lowest growth rate in a decade, reminiscent of the banking crisis in 2011–2012.High lending rates, gloomy macroeconomic data, and an uncertain economic outlook have become the primary drivers of weak credit demand. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Banking Sector - 9M23 Update and Outlook - Overcoming adversity

<ul><li>Credit growth in 1H23 slightly behind full-year target: By end-2Q23, credit growth was low, at 4.7% YTD, which is far behind the annual plan from the SBV of 14-16%.</li><li>The growth rate was the second lowest in the last decade.</li><li>The key reason for the low credit growth was stubbornly-high lending rates. </li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Credit growth in 1H23 slightly behind full-year target: By end-2Q23, credit growth was low, at 4.7% YTD, which is far behind the annual plan from the SBV of 14-16%.The growth rate was the second lowest in the last decade.The key reason for the low credit growth was stubbornly-high lending rates. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Banking Sector - 1H23 Update and Outlook - An Essential Deceleration

<ul><li>By end-1Q23, credit growth was low, at 2.1% YTD. This was the second lowest rate since that of 2015, when the domestic banking sector began to recover from the credit crunch in 2012.</li><li>The biggest reason for the low credit growth was the high lending rate.</li><li>In terms of the loan yield of listed banks, lending rates reached the highest level of the past ten years, curbing credit demand from borrowers. </li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

By end-1Q23, credit growth was low, at 2.1% YTD. This was the second lowest rate since that of 2015, when the domestic banking sector began to recover from the credit crunch in 2012.The biggest reason for the low credit growth was the high lending rate.In terms of the loan yield of listed banks, lending rates reached the highest level of the past ten years, curbing credit demand from borrowers. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Banking Sector - 1Q23 update and outlook - Return of dovish policies

Vietnam

Vietnam International Commercial Joint Stock Bank provides banking services. The Bank offers deposits, loans, insurance, mobile, internet, and other banking services. Vietnam International Commercial serves customers in Vietnam.

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Vietnam International Bank (VIB VN)

VIB - A Highly Differentiated Retail Bank That Will Deliver Long-Term Value

A deep retail-oriented strategy along with the competitive advantage of fast retail loan processing will enable VIB to unlock the untapped...

Rong Viet Securities

Vietnam International Bank: A Highly Differentiated Retail Bank That Will Deliver Long-Term Value

A deep retail-oriented strategy along with the competitive advantage of fast retail loan processing will enable VIB to unlock the untapped...

Rong Viet Securities

Banking Sector - 9M23 Update and Outlook - Overcoming adversity

Credit growth in 9M23 lagged significantly behind annual target set by State Bank of Vietnam (SBV): By end-3Q23, credit growth for the year stood...

Mirae Asset Securities

Banking Sector - 1H23 Update and Outlook - An Essential Deceleration

Credit growth in 1H23 slightly behind full-year target: By end-2Q23, credit growth was low, at 4.7% YTD, which is far behind the annual plan from...

Mirae Asset Securities

Banking Sector - 1Q23 update and outlook - Return of dovish policies

By end-1Q23, credit growth was low, at 2.1% YTD. This was the second lowest rate since that of 2015, when the domestic banking sector began to...

Mirae Asset Securities

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