ACB’s 4Q23 Analyst Meeting_Key Takeaways

ACB posted 4Q23 PATMI of VND 4.0 tn (-1% QoQ/+40% YoY). 2023 PATMI was VND16 tn (+17% YoY), completing 103% of our forecast.

Credit increased by 17.9% in 2023, mainly from corporate clients (+19% YoY), followed by consumers (+18% YoY), and SMEs (+16% YoY). 98% of ACB’s loans are secured with an average LTV of 55%. ACB disclosed that its 2024 credit growth quota is +16.1% YoY.

For the complete report, please access here: ACB_4Q23_Analyst Meeting Takeaways

Analyst: Tanh Tran, tanh.tran@yuanta.com.vn