14/11/2024 - 08:23
Bank Sector_CAMEL 3Q24 update_Positive take on Circular 06 expiration
CAMEL framework: The top 4 banks in our rankings remain VCB, TCB, ACB, and MBB. The main change is that MBB dropsed to 4th place from 3rd due to its negative asset quality trend. MBB’s NPLs jumped by +42% QoQ, its NPL ratio rose to 2.23% (+60bps QoQ/+35bps YoY), and its LLR ratio declined to 69% at 3Q24 (-33ppt QoQ/ -53ppt YoY).
CTG and STB improved to 6th and 7th places. Both CTG and STB’s PATMI expanded by +35% YoY in 3Q24, driven by strong net interest income (+19% YoY for CTG and +31% YoY for STB). Both banks increased their provisioning significantly by +25% YoY for CTG and 45% YoY for STB.
For the complete report, please access here: Bank Sector_CAMEL_3Q24_Update_A Positive Take on Circular 06 Expiration
Analyst: Tanh Tran, tanh.tran@yuanta.com.vn
